IDEAS home Printed from https://ideas.repec.org/a/rje/randje/v18y1987iautumnp397-407.html
   My bibliography  Save this article

A Core Selection for Regulating a Single-Output Monopoly

Author

Listed:
  • Herve J. Moulin

Abstract

We consider a single-output production economy in which all coalitions of agents have access to the technology. Under increasing returns to scale, the corresponding cooperative game (without side payments) is convex, and hence has a large core. We propose a core selection that is obtained by considering the lowest price of output relative to input such that the corresponding vector of indirect utilities is feasible. The constant returns equivalent allocation is feasible and achieves this utility vector. It satisfied the property of technological monotonicity: when the production possibility set expands, no agent faces a utility loss. Technological monotonicity and the core property together characterize the constant returns equivalent solution.

Suggested Citation

  • 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.
    • Handle: RePEc:rje:randje:v:18:y:1987:i:autumn:p:397-407
    as

    Download full text from publisher

    File URL: http://links.jstor.org/sici?sici=0741-6261%28198723%2918%3A3%3C397%3AACSFRA%3E2.0.CO%3B2-0&origin=repec
    File Function: full text
    Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Xu, Yongsheng & Yoshihara, Naoki, 2019. "Does dynamic market competition with technological innovation leave no one behind?," Discussion Paper Series 699, Institute of Economic Research, Hitotsubashi University.
    2. Youngsheng Xu & Naoki Yoshihara, 2019. "Efficiency invites Divide and Coercion in the Age of Increasing Returns to Scale," Working Papers SDES-2019-12, Kochi University of Technology, School of Economics and Management, revised Nov 2019.
    3. Thomson, William, 1997. "The Replacement Principle in Economies with Single-Peaked Preferences," Journal of Economic Theory, Elsevier, vol. 76(1), pages 145-168, September.
    4. Chambers, Christopher P. & Hayashi, Takashi, 2020. "Can everyone benefit from innovation?," Journal of Mathematical Economics, Elsevier, vol. 88(C), pages 187-191.
    5. Bag, Parimal Kanti & Winter, Eyal, 1999. "Simple Subscription Mechanisms for Excludable Public Goods," Journal of Economic Theory, Elsevier, vol. 87(1), pages 72-94, July.
    6. Arguedas, Carmen & Kranich, Laurence, 2006. "The linear cost equivalent rule: A solution procedure for heterogeneous joint production problems," Mathematical Social Sciences, Elsevier, vol. 51(1), pages 70-80, January.
    7. Arguedas, Carmen & Kranich, Laurence, 1997. "Allocating environmental costs among heterogeneous sources: The linear damage equivalent mechanism," UC3M Working papers. Economics 6042, Universidad Carlos III de Madrid. Departamento de Economía.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rje:randje:v:18:y:1987:i:autumn:p:397-407. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://www.rje.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.