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Equilibrium concepts in the large-household model

By Tao Zhu


This paper formulates equilibrium concepts in the large (non atomic) 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.Search, large household, equilibrium concept, team

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