Valuation equilibrium with clubs
成果类型：
Article
署名作者：
Cole, HL; Prescott, EC
署名单位：
University of Minnesota System; University of Minnesota Twin Cities; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1006/jeth.1996.2247
发表日期：
1997
页码：
19-39
关键词：
摘要：
This paper considers model worlds in which there is a continuum of individuals who form finite-sized associations to undertake joint activities. We show how, through a suitable choice of commodity space, restrictions on the composition of feasible groups can be incorporated into the specification of the consumption and production sets of the economy. We also show that if there are a finite number of types, then the classical results From the competitive analysis of convex finite-agent economies can be reinterpreted to apply. Journal of Economic Literature Classification Numbers: D51, H41. (C) 1997 Academic Press.