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Cost monotonic mechanisms

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Author Info

  • Miguel Gines

    (Universidad de Alicante)

  • Francisco Marhuenda

    (Universidad de Alicante)

Abstract

We study the existence of cost monotonic selections of the core in economies with several public goods. Under quasilinear utilities there is a cost inonotonic core selection mechanism if and only if the agents order the bundles of public goods equally. If this is indeed the case, any such mechanism must choose an egalitarian equivalent allocation. The equal ordering property is no longer required in the case of economies with quasi-linear separable utility functions and separable costs. In this set up, there is essentially only one cost monotoiiic mechanism. Furthermore, it has to select an egalit arian equivalent allocation.

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Bibliographic Info

Article provided by Fundación SEPI in its journal Investigaciones Economicas.

Volume (Year): 20 (1996)
Issue (Month): 1 (January)
Pages: 89-103

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Handle: RePEc:iec:inveco:v:20:y:1996:i:1:p:89-103

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  1. Moulin, Herve & Thomson, William, 1988. "Can everyone benefit from growth? : Two difficulties," Journal of Mathematical Economics, Elsevier, vol. 17(4), pages 339-345, September.
  2. Pazner, Elisha A & Schmeidler, David, 1978. "Egalitarian Equivalent Allocations: A New Concept of Economic Equity," The Quarterly Journal of Economics, MIT Press, vol. 92(4), pages 671-87, November.
  3. Herbert E. Scarf, 1965. "The Core of an N Person Game," Cowles Foundation Discussion Papers 182R, Cowles Foundation for Research in Economics, Yale University.
  4. Herve J. Moulin, 1987. "A Core Selection for Regulating a Single-Output Monopoly," RAND Journal of Economics, The RAND Corporation, vol. 18(3), pages 397-407, Autumn.
  5. William Thomson, 2007. "Fair Allocation Rules," RCER Working Papers 539, University of Rochester - Center for Economic Research (RCER).
  6. Moulin, Herve, 1992. "An Application of the Shapley Value to Fair Division with Money," Econometrica, Econometric Society, vol. 60(6), pages 1331-49, November.
  7. Moulin, Herve, 1987. "Egalitarian-Equivalent Cost Sharing of a Public Good," Econometrica, Econometric Society, vol. 55(4), pages 963-76, July.
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Cited by:
  1. Corchón, Luis C. & Beviá, Carmen & Wilkie, Simon, . "Implementation of the Walrasian Correspondence by Market Games," Open Access publications from Universidad Carlos III de Madrid info:hdl:10016/3799, Universidad Carlos III de Madrid.
  2. José Alcalde, 1995. "Exchange-Proofness or Divorce-Proofness? Stability in One-Sided Matching Markets," Working Papers. Serie AD 1995-04, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  3. María Dolores Guilló, 1995. "Terms-Of-Trade And The Current Account: A Two-Country/Two-Sector Growth Model," Working Papers. Serie AD 1995-03, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  4. Luis Corchón & Andreu Mas-Colell, 1995. "A Note On Stability Of Best Reply And Gradient Systems With Applications To Imperfectly Competitive Models," Working Papers. Serie AD 1995-18, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).

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