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.
|Date of creation:||2011|
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- 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.
- Hans Gersbach & Hans Haller, 2009.
"Club Theory and Household Formation,"
CER-ETH Economics working paper series
09/110, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
- Hans Gersbach & Hans Haller, 2002.
"Competitive Markets, Collective Decisions and Group Formation,"
02-11, University of Copenhagen. Department of Economics.
- Hans Gersbach & Hans Haller, 2003. "Competitive Markets, Collective Decisions and Group Formation," CESifo Working Paper Series 953, CESifo Group Munich.
- Hans Gersbach & Hans Haller, 2005.
"Bargaining Power and Equilibrium Consumption,"
CESifo Working Paper Series
1448, CESifo Group Munich.
- Xiong, Siyang & Zheng, Charles Zhoucheng, 2007.
"Core Equivalence Theorem with Production,"
Staff General Research Papers
12697, Iowa State University, Department of Economics.
- Donald A. Walker (ed.), 2000. "Equilibrium," Books, Edward Elgar Publishing, volume 0, number 1585, April.
- Hans Gersbach & Hans Haller, 2001. "Collective Decisions and Competitive Markets," Review of Economic Studies, Oxford University Press, vol. 68(2), pages 347-368.
- Apps,Patricia & Rees,Ray, 2009.
"Public Economics and the Household,"
Cambridge University Press, number 9780521716284, November.
- 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.
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