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Competitive Markets, Collective Decisions and Group Formation

  • Hans Gersbach
  • Hans Haller

We consider a general equilibrium model where groups operating in a competitive market environment can have several members and make efficient collective consumption decisions. Individuals have the option to leave the group and make it on their own or join another group. We study the effect of these outside options on group formation, group stability, equilibrium existence, and equilibrium efficiency.

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Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 953.

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Date of creation: 2003
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Handle: RePEc:ces:ceswps:_953
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  1. Gersbach, Hans & Haller, Hans, 2001. "Collective Decisions and Competitive Markets," Review of Economic Studies, Wiley Blackwell, vol. 68(2), pages 347-68, April.
  2. Alkan, Ahmet, 1988. "Nonexistence of stable threesome matchings," Mathematical Social Sciences, Elsevier, vol. 16(2), pages 207-209, October.
  3. Pierre-Andre Chiappori & Bernard Fortin & Guy Lacroix, 2002. "Marriage Market, Divorce Legislation, and Household Labor Supply," Journal of Political Economy, University of Chicago Press, vol. 110(1), pages 37-72, February.
  4. Bennett, Elaine, 1988. "Consistent bargaining conjectures in marriage and matching," Journal of Economic Theory, Elsevier, vol. 45(2), pages 392-407, August.
  5. Bryan Ellickson & Birgit Grodal & Suzanne Scotchmer & William Zame, 1997. "Clubs and the Market: Large Finite Economies," UCLA Economics Working Papers 766, UCLA Department of Economics.
  6. Martine Quinzii, 1982. "Core and Competitive Equilibria with Indivisibilities," Cowles Foundation Discussion Papers 644, Cowles Foundation for Research in Economics, Yale University.
  7. Chiappori, P.A., 1989. "Collective Labour Supply and Welfare," DELTA Working Papers 89-07, DELTA (Ecole normale supérieure).
  8. Bryan Ellickson & Birgit Grodal & Suzanne Scotchmer & William R. Zame, 1999. "Clubs and the Market," Discussion Papers 99-04, University of Copenhagen. Department of Economics.
    • Bryan Ellickson & Birgit Grodal & Suzanne Scotchmer & William R. Zame, 1999. "Clubs and the Market," Econometrica, Econometric Society, vol. 67(5), pages 1185-1218, September.
  9. Bogomolnaia, Anna & Jackson, Matthew O., 2002. "The Stability of Hedonic Coalition Structures," Games and Economic Behavior, Elsevier, vol. 38(2), pages 201-230, February.
  10. Crawford, Vincent P & Rochford, Sharon C, 1986. "Bargaining and Competition in Matching Markets," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 27(2), pages 329-48, June.
  11. Alkan, Ahmet & Gale, David, 1990. "The core of the matching game," Games and Economic Behavior, Elsevier, vol. 2(3), pages 203-212, September.
  12. Rochford, Sharon C., 1984. "Symmetrically pairwise-bargained allocations in an assignment market," Journal of Economic Theory, Elsevier, vol. 34(2), pages 262-281, December.
  13. 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.
  14. Gersbach, Hans & Haller, Hans, 2003. "When Inefficiency Begets Efficiency," Economics Series 128, Institute for Advanced Studies.
  15. Chiappori, Pierre-Andre, 1988. "Rational Household Labor Supply," Econometrica, Econometric Society, vol. 56(1), pages 63-90, January.
  16. Tayfun Sönmez & Suryapratim Banerjee & Hideo Konishi, 2001. "Core in a simple coalition formation game," Social Choice and Welfare, Springer, vol. 18(1), pages 135-153.
  17. Jehiel, Philippe & Scotchmer, Suzanne, 2001. "Constitutional Rules of Exclusion in Jurisdiction Formation," Review of Economic Studies, Wiley Blackwell, vol. 68(2), pages 393-413, April.
  18. Dreze, J H & Greenberg, J, 1980. "Hedonic Coalitions: Optimality and Stability," Econometrica, Econometric Society, vol. 48(4), pages 987-1003, May.
  19. Bennett, Elaine, 1997. "Multilateral Bargaining Problems," Games and Economic Behavior, Elsevier, vol. 19(2), pages 151-179, May.
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