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• The Economic Theory of Clubs

  64-85

  Nora Ilona Elek

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  Defining club goods allows an analysis of goods that possess neither pure public goods nor pure private goods characteristics. This is the main significance of the economic theory of clubs. The present paper categorises club good among goods in general on the basis of the relevant literature, and specifies the core elements of a definition of clubs and club goods. Then, by summarizing the most important articles on the subject, this paper delineates fundamental questions and models of club theory. Finally, supporting the relevant practical issues of club theory, this study describes economic fields where the theory has been applied.

  Journal of Economic Literature (JEL) classification: H41, H49