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Club theory and household formation

  • Gersbach, Hans
  • Haller, Hans

The relationship between our general equilibrium model with multi-member households and club models with multiple private goods is investigated. The main distinction in the definitions consists in the equilibrium concepts. As a rule, competitive equilibria among households where no group of consumers can benefit from forming a new household and valuation equilibria prove equivalent in the absence of consumption externalities, but not in their presence.

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Article provided by Elsevier in its journal Journal of Mathematical Economics.

Volume (Year): 46 (2010)
Issue (Month): 5 (September)
Pages: 715-724

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Handle: RePEc:eee:mateco:v:46:y:2010:i:5:p:715-724
Contact details of provider: Web page: http://www.elsevier.com/locate/jmateco

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  1. Wooders, Myrna Holtz, 1988. "Stability of jurisdiction structures in economies with local public goods," Mathematical Social Sciences, Elsevier, vol. 15(1), pages 29-49, February.
  2. Chiappori, Pierre-Andre, 1988. "Rational Household Labor Supply," Econometrica, Econometric Society, vol. 56(1), pages 63-90, January.
  3. Allouch, Nizar & Wooders, Myrna, 2008. "Price taking equilibrium in economies with multiple memberships in clubs and unbounded club sizes," Journal of Economic Theory, Elsevier, vol. 140(1), pages 246-278, May.
  4. Gersbach, Hans & Haller, Hans, 2001. "Collective Decisions and Competitive Markets," Review of Economic Studies, Wiley Blackwell, vol. 68(2), pages 347-68, April.
  5. Ellickson, Bryan & Grodal, Birgit & Scotchmer, Suzanne & Zame, William R., 2001. "Clubs and the Market: Large Finite Economies," Journal of Economic Theory, Elsevier, vol. 101(1), pages 40-77, November.
  6. Roth,Alvin E. & Sotomayor,Marilda A. Oliveira, 1992. "Two-Sided Matching," Cambridge Books, Cambridge University Press, number 9780521437882.
  7. Mas-Colell, Andreu, 1980. "Efficiency and Decentralization in the Pure Theory of Public Goods," The Quarterly Journal of Economics, MIT Press, vol. 94(4), pages 625-41, June.
  8. Gilles, Robert P. & Scotchmer, Suzanne, 1997. "Decentralization in Replicated Club Economies with Multiple Private Goods," Journal of Economic Theory, Elsevier, vol. 72(2), pages 363-387, February.
  9. Cole, Harold L. & Prescott, Edward C., 1997. "Valuation Equilibrium with Clubs," Journal of Economic Theory, Elsevier, vol. 74(1), pages 19-39, May.
  10. Bryan Ellickson & Birgit Grodal & Suzanne Scotchmer & William R. Zame, 1999. "Clubs and the Market," Econometrica, Econometric Society, vol. 67(5), pages 1185-1218, September.
  11. Hideo Konishi, 2010. "Efficient Mixed Clubs: Nonlinear-Pricing Equilibria With Entrepreneurial Managers," The Japanese Economic Review, Japanese Economic Association, vol. 61(1), pages 35-63.
  12. Wooders, Myrna Holtz, 1989. "A Tiebout theorem," Mathematical Social Sciences, Elsevier, vol. 18(1), pages 33-55, August.
  13. Chiappori, Pierre-Andre, 1992. "Collective Labor Supply and Welfare," Journal of Political Economy, University of Chicago Press, vol. 100(3), pages 437-67, June.
  14. Hans Gersbach & Hans Haller, 2003. "When Inefficiency Begets Efficiency," Discussion Papers 03-11, University of Copenhagen. Department of Economics.
  15. Suzanne Scotchmer, 2005. "Consumption externalities, rental markets and purchase clubs," Economic Theory, Springer, vol. 25(1), pages 235-253, 01.
  16. Hans Gersbach & Hans Haller, 2009. "Bargaining power and equilibrium consumption," Social Choice and Welfare, Springer, vol. 33(4), pages 665-690, November.
  17. Dreze, J H & Greenberg, J, 1980. "Hedonic Coalitions: Optimality and Stability," Econometrica, Econometric Society, vol. 48(4), pages 987-1003, May.
  18. Haller, Hans, 2000. "Household Decisions and Equilibrium Efficiency," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 41(4), pages 835-47, November.
  19. Hans Gersbach & Hans Haller, 2009. "The affectionate society: does competition for partners promote friendliness?," Economic Theory, Springer, vol. 40(3), pages 389-403, September.
  20. Berglas, Eitan, 1976. "On the Theory of Clubs," American Economic Review, American Economic Association, vol. 66(2), pages 116-21, May.
  21. Hans Gersbach & Hans Haller, 2002. "Competitive Markets, Collective Decisions and Group Formation," Discussion Papers 02-11, University of Copenhagen. Department of Economics.
  22. Donald A. Walker (ed.), 2000. "Equilibrium," Books, Edward Elgar, volume 0, number 1585, March.
  23. Ellickson, Bryan, 1979. "Competitive equilibrium with local public goods," Journal of Economic Theory, Elsevier, vol. 21(1), pages 46-61, August.
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