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General Equilibrium with Multi-Member Households and Production


  • Hans Gersbach
  • Hans Haller


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.

Suggested Citation

  • Hans Gersbach & Hans Haller, 2011. "General Equilibrium with Multi-Member Households and Production," CESifo Working Paper Series 3659, CESifo Group Munich.
  • Handle: RePEc:ces:ceswps:_3659

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    References listed on IDEAS

    1. Xiong, Siyang & Zheng, Charles Zhoucheng, 2007. "Core equivalence theorem with production," Journal of Economic Theory, Elsevier, vol. 137(1), pages 246-270, November.
    2. Apps,Patricia & Rees,Ray, 2009. "Public Economics and the Household," Cambridge Books, Cambridge University Press, number 9780521716284, May.
    3. Gersbach, Hans & Haller, Hans, 2010. "Club theory and household formation," Journal of Mathematical Economics, Elsevier, vol. 46(5), pages 715-724, September.
    4. Hans Gersbach & Hans Haller, 2001. "Collective Decisions and Competitive Markets," Review of Economic Studies, Oxford University Press, vol. 68(2), pages 347-368.
    5. Hans Gersbach & Hans Haller, 2009. "Bargaining power and equilibrium consumption," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 33(4), pages 665-690, November.
    6. Michele Gori, 2010. "Endogenous household formation and inefficiency in a general equilibrium model," Working Papers - Mathematical Economics 2010-09, Universita' degli Studi di Firenze, Dipartimento di Scienze per l'Economia e l'Impresa, revised Oct 2010.
    7. Michele Gori & Antonio Villanacci, 2011. "A bargaining model in general equilibrium," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 46(3), pages 327-375, April.
    8. Hans Gersbach & Hans Haller, 2002. "Competitive Markets, Collective Decisions and Group Formation," Discussion Papers 02-11, University of Copenhagen. Department of Economics.
    9. Donald A. Walker (ed.), 2000. "Equilibrium," Books, Edward Elgar Publishing, volume 0, number 1585.
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    More about this item


    household behavior; general equilibrium; production;

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D62 - Microeconomics - - Welfare Economics - - - Externalities
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General


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