A Cournot-Nash model of family decision making -- Web of Science 5.0

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A Cournot-Nash model of family decision making
Chen ZQ, Wooley F
ECONOMIC JOURNAL 111 (474): 722-748 OCT 2001

Document type: Article

Language: English

Cited References: 45

Times Cited: 2

Abstract:
This paper models a two-person family. Each family member is utility maximising, yet family members are interdependent because of caring and public goods within the family. The two family members' interdependent utility maximisation problems are first solved using a noncooperative, or Cournot-Nash, game theoretic framework, The Cournot-Nash equilibrium is then used as a threat point in a bargaining game. The paper provides a rigorous derivation of the properties of household demands, a full analysis of the determinants of intra-household resource allocation, including the effect of varying household bargaining power, and consideration of policy implications.

KeyWords Plus:
HOUSEHOLD BEHAVIOR, PUBLIC-GOODS, INCOME, MARRIAGE, EXPENDITURE, ALLOCATION

Addresses:
Chen ZQ, Carleton Univ, Ottawa, ON K1S 5B6, Canada
Carleton Univ, Ottawa, ON K1S 5B6, Canada

Publisher:
BLACKWELL PUBL LTD, OXFORD

IDS Number:
483RQ

ISSN:
0013-0133

Article 1 of 13

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