Share equilibrium in local public good economies
AbstractWe define a concept of share equilibrium for local public good (or club) economies where individual members of the population may have preferences over the membership of their jurisdiction. A share equilibrium specifies one share index for each individual. These indices determine each individual’s cost shares in any jurisdiction that he might join. We demonstrate that the same axioms as those that characterize the Lindahl equilibrium, as discussed in Lindahl’s 1919 paper, also characterize the share equilibrium. Share equilibrium extends the notions of ratio equilibrium and cost share equilibrium (due to Kaneko, 1977; Mas-Colell and Silvestre, 1989) to economies with a local public good and possibly multiple jurisdictions.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Journal of Mathematical Economics.
Volume (Year): 47 (2011)
Issue (Month): 3 ()
Contact details of provider:
Web page: http://www.elsevier.com/locate/jmateco
Share equilibrium; Ratio equilibrium; Axiomatization; Cost share equlilibrium; Local public good economy; Consistency; Club economy;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- DHILLON, Amrita & MERTENS, Jean-François, .
CORE Discussion Papers RP
-1398, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Maskin, Eric, 1999.
"Nash Equilibrium and Welfare Optimality,"
Review of Economic Studies,
Wiley Blackwell, vol. 66(1), pages 23-38, January.
- Eric Maskin, 1998. "Nash Equilibrium and Welfare Optimality," Harvard Institute of Economic Research Working Papers 1829, Harvard - Institute of Economic Research.
- Mas-Colell, Andreu, 1980. "Efficiency and Decentralization in the Pure Theory of Public Goods," The Quarterly Journal of Economics, MIT Press, vol. 94(4), pages 625-41, June.
- van den Nouweland, A. & Wooders, M.H., 2001.
"Axiomatization of Ratio Equilibria in Public Good Economies,"
The Warwick Economics Research Paper Series (TWERPS)
585, University of Warwick, Department of Economics.
- Anne van den Nouweland & Myrna H. Wooders & S. Tijs, 2002. "Axiomatization of ratio equilibria in public good economies," Social Choice and Welfare, Springer, vol. 19(3), pages 627-636.
- Nouweland, C.G.A.M. van den & Tijs, S.H. & Wooders, M.H., 2002. "Axiomatizations of ratio equilibria in public good economies," Open Access publications from Tilburg University urn:nbn:nl:ui:12-91323, Tilburg University.
- Allouch, Nizar & Wooders, Myrna, 2008. "Price taking equilibrium in economies with multiple memberships in clubs and unbounded club sizes," Journal of Economic Theory, Elsevier, vol. 140(1), pages 246-278, May.
- Reny, Philip J. & Holtz Wooders, Myrna, 1996. "The Partnered Core of a Game without Side Payments," Journal of Economic Theory, Elsevier, vol. 70(2), pages 298-311, August.
- Nouweland, C.G.A.M. van den & Peleg, B. & Tijs, S.H., 1994.
"Axiomatic characterizations of the Walras correspondence for generalized economies,"
1994-58, Tilburg University, Center for Economic Research.
- van den Nouweland, A. & Peleg, B. & Tijs, S., 1996. "Axiomatic characterizations of the Walras correspondence for generalized economies," Journal of Mathematical Economics, Elsevier, vol. 25(3), pages 355-372.
- Nouweland, C.G.A.M. van den & Peleg, B. & Tijs, S.H., 1996. "Axiomatic characterizations of the Walras correspondence for generalized economies," Open Access publications from Tilburg University urn:nbn:nl:ui:12-72933, Tilburg University.
- Hervé Moulin, 2000. "Priority Rules and Other Asymmetric Rationing Methods," Econometrica, Econometric Society, vol. 68(3), pages 643-684, May.
- Mas-Colell, Andreu & Silvestre, Joaquim, 1989. "Cost share equilibria: A Lindahlian approach," Journal of Economic Theory, Elsevier, vol. 47(2), pages 239-256, April.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.