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. doi:10.1016/j.jet.2007.07.006

Research output not available from this repository, contact author.

Request Changes to record.

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
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
Official Date:	May 2008
Dates:	Date Event May 2008 Published
Volume:	Vol.140
Number:	No.1
Number of Pages:	33
Page Range:	pp. 246-278
DOI:	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:	Related item in WRAP

Data sourced from Thomson Reuters' Web of Knowledge

Request changes or add full text files to a record

Repository staff actions (login required)

View Item