search query: @author Ellickson, B. / total: 2
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| Author: | Ellickson, B. |
| Title: | Clubs and the market |
| Journal: | Econometrica
1999 : SEP, VOL. 67:5, p. 1185-1218 |
| Index terms: | MODELS PUBLIC GOODS EQUILIBRIUM THEORY |
| Language: | eng |
| Abstract: | This paper defines a general equilibrium model with exchange and club formation. Agents trade multiple private goods widely in the market, can belong to several clubs, and care about the characteristics of the other members of their clubs. The space of agents is a continuum, but clubs are finite. It is shown that (i) competitive equilibria exist, and (ii) the core coincides with the set of equilibrium states. |
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