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Valuation Equilibrium with Clubs
Journal of Economic Theory, no. 1 (1997): 19-39
EI
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 ...更多
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