Equilibrium concepts in the large-household model

• 成果类型: Article
• 署名作者: Zhu, Tao
• 署名单位: Cornell University; University of Glasgow
• 刊物名称: THEORETICAL ECONOMICS
• ISSN/ISSBN: 1555-7561
• 发表日期: 2008-06-01
• 页码: 257-281
• 关键词: search; large household; equilibrium concept; team

摘要

This paper formulates equilibrium concepts in the large (nonatomic) household model under the team notion, characterizes a class of equilibrium allocations, explores whether an equilibrium allocation in the large-household model is a limit of equilibrium allocations in the finite-household model, and establishes existence of equilibrium allocations generated by generalized Nash bargaining.