Journal Article

Collective Decisions and Competitive Markets

Hans Gersbach and Hans Haller

in The Review of Economic Studies

Published on behalf of Review of Economic Studies Ltd

Volume 68, issue 2, pages 347-368
Published in print April 2001 | ISSN: 0034-6527
Published online April 2001 | e-ISSN: 1467-937X | DOI: http://dx.doi.org/10.1111/1467-937X.00172
Collective Decisions and Competitive Markets

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In a general equilibrium model, we allow for households with several, typically heterogeneous, members; households that make (efficient) collective consumption decisions where different households may use different collective decision mechanisms; yet households that operate within a competitive market environment. The interaction of two allocation mechanisms, collective decisions and competitive markets, is investigated, with a focus on the efficiency properties and decentralization possibilities of the dual allocation mechanism.

Journal Article.  0 words. 

Subjects: Economics

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