Decentralization in Replicated Club Economies with Multiple Private Goods
نویسندگان
چکیده
منابع مشابه
Price taking equilibrium in club economies with multiple memberships and unbounded club sizes
This paper develops a model of an economy with clubs where individuals may belong to multiple clubs and where there may be ever increasing returns to club size. Clubs may be large, as large as the total agent set. The main condition required is that sufficient wealth can compensate for memberships in larger and larger clubs. Notions of price-taking equilibrium and the core, both with communicat...
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متن کاملPrice taking equilibrium in economies with multiple memberships in clubs and unbounded club sizes
This paper develops a model of an economy with clubs where individuals may belong to multiple clubs and where there may be ever increasing returns to club size. A club is a group of individuals who have formed an organization for the benefit of the group members. Clubs may be large, as large as the total agent set. The main condition required is that sufficient wealth can compensate for members...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 1997
ISSN: 0022-0531
DOI: 10.1006/jeth.1996.2221