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### Price taking equilibrium in economies with multiple memberships in clubs and unbounded club sizes

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Allouch, Nizar and Wooders, Myrna Holtz.
(2008)
*Price taking equilibrium in economies with multiple memberships in clubs and unbounded club sizes.*
Journal of Economic Theory, Vol.140
(No.1).
pp. 246-278.
ISSN 0022-0531

**Full text not available from this repository.**

Official URL: http://dx.doi.org/10.1016/j.jet.2007.07.006

## Abstract

We model an economy with clubs (or jurisdictions) where individuals may belong to multiple clubs and where clubs sizes are arbitrary-clubs may be restricted to consist of only one or two persons, or as large as the entire economy, or anything in-between. Notions of price-taking equilibrium and the core, both with communication costs, are introduced. These notions take into account that there is a small communication cost of deviating from a given outcome. We demonstrate that, given communication costs, for all sufficiently large economies the core is nonempty and the set of price-taking equilibrium outcomes is equivalent to the core. (c) 2007 Elsevier Inc. All rights reserved.

Item Type: | Journal Article |
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Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HF Commerce |

Divisions: | Faculty of Social Sciences > Economics Faculty of Social Sciences > Centre for the Study of Globalisation and Regionalisation |

Library of Congress Subject Headings (LCSH): | Pricing, Equilibrium (Economics) -- Mathematical models, Social networks, Edgeworth expansions, Clubs -- Accounting, Public goods -- Pricing -- Mathematical models |

Journal or Publication Title: | Journal of Economic Theory |

Publisher: | Academic Press |

ISSN: | 0022-0531 |

Date: | May 2008 |

Volume: | Vol.140 |

Number: | No.1 |

Number of Pages: | 33 |

Page Range: | pp. 246-278 |

Identification Number: | 10.1016/j.jet.2007.07.006 |

Status: | Peer Reviewed |

Publication Status: | Published |

Access rights to Published version: | Restricted or Subscription Access |

Description: | This paper originally appeared as University of Warwick Department of Economics Working Paper #639 (2002). The paper was presented at the Athens General Equilibrium Conference, May 2002; PET 2002, June 2002; Social Choice and Welfare, July 2002; ESEM August, 2002, the Illinois Economic Theory Workshop, April 2003, the University of Chicago in 2005 and Oxford in 2006. |

Version or Related Resource: | Allouch, N. and Wooders, M.H. (2002). Competitive pricing in socially networked economies. [Coventry] : University of Warwick, Economics Department. (Warwick economic research papers, no.639). http://wrap.warwick.ac.uk/id/eprint/1551 |

Related URLs: | |

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URI: | http://wrap.warwick.ac.uk/id/eprint/29904 |

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