General Equilibrium with Multi-Member Households and Production
We consider firms and multi-member households operating in a competitive market environment. Households are endowed with resources (commodity bundles) and shares of firm ownership. Household members are characterized by individual preferences, possibly with intra-household consumption externalities. Household decisions adhere to the collective rationality model. Existence of general equilibrium and validity of the first welfare theorem are investigated.
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CESifo Working Paper Series
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"Club Theory and Household Formation,"
Sonderforschungsbereich 504 Publications
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"Competitive Markets, Collective Decisions and Group Formation,"
02-11, University of Copenhagen. Department of Economics.
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