We integrate individual power in groups into general equilibrium models with endogenous group formation. We distinguish … between formal power (the say in group decisions) and real power (utility gain from being in groups). Their values will be … determined as part of the equilibrium. We find that higher formal power does not necessarily translate into higher equilibrium …

We integrate individual power in groups into general equilibrium models with endogenous group formation. We distinguish … between formal power (the say in group decisions) and real power (utility gain from being in groups). Their values will be … determined as part of the equilibrium. We find that higher formal power does not necessarily translate into higher equilibrium …

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 …