We integrate individual power in groups into general equilibrium models. The relationship between group formation …, resource allocation, and the power of specific individuals or particular sociological groups is investigated. We introduce, via … an illustrative example, three appealing concepts of power and show that there is no monotonic relationship between these …

This paper analyzes private precautions against crime when the value of the property to be protected is private …, suboptimal investment can occur when observable precautions communicate information about property value to potential offenders …

The birth of children often shifts the power balance within a family. If family decisions are made according to the … spouses' welfare function, this shift in power may lead to a time consistency problem. The allocation of resources after the …, families try to mitigate the ex-ante undesired shift in the power balance. This bias in fertility choices provides scope for …

distribution of political power as a mediating factor. We present a simple theoretical model showing that increased rents are … show that rents can promote political stability, but only when the political power is sufficiently concentrated. Indeed, if …

bargaining theory to predict inter-institutional agreements in the Conciliation Committee, it turns out that although …

given party ideological predispositions and power distribution determine the expected policy outcome. Our analysis applies … weighted by power. Our second result clarifies how the success of an interest group hinges on the dominance of its ideology in … effect of ideological predispositions and power on the efforts of the interest groups. -- policy formation ; political …

generations. Exit options across different political entities lead to a joint evolution of local power structures. …

We propose a formal concept of the power of voice in the context of a simple model where individuals form groups and … power of the members of a group, which constitutes an instance of the power of voice. The adopted equilibrium concept … endogenizes the outside options as well as the power of voice. In our illustrative example, there exists an equilibrium that …