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Cooperative Production and Effciency

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  • Carmen Bevià
  • Luis C. Corchón

Abstract

We characterize the sharing rule for which a contribution mechanism achieves efficiency in a cooperative production setting when agents are heterogeneous. The sharing rule bears no resemblance to those considered by the previous literature. We also show for a large class of sharing rules that if Nash equilibrium yields efficient allocations, the production function displays constant returns to scale, a case in which cooperation in production is useless.

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Bibliographic Info

Paper provided by Barcelona Graduate School of Economics in its series Working Papers with number 305.

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Date of creation: Apr 2007
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Handle: RePEc:bge:wpaper:305

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  1. Theodore Groves & Martin Loeb, 1974. "Incentives and Public Inputs," Discussion Papers 29, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  2. Roemer John E. & Silvestre Joaquim, 1993. "The Proportional Solution for Economies with Both Private and Public Ownership," Journal of Economic Theory, Elsevier, vol. 59(2), pages 426-444, April.
  3. Shigehiro Serizawa, 1996. "Strategy-proof and individually rational social choice functions for public good economies (*)," Economic Theory, Springer, vol. 7(3), pages 501-512.
  4. Fabella, Raul V., 1988. "Natural team sharing and team productivity," Economics Letters, Elsevier, vol. 27(2), pages 105-110.
  5. Rajat Deb & Shinji Ohseto, 1999. "Strategy-proof and individually rational social choice functions for public good economies: A note," Economic Theory, Springer, vol. 14(3), pages 685-689.
  6. Leroux, Justin, 2008. "Profit sharing in unique Nash equilibrium: Characterization in the two-agent case," Games and Economic Behavior, Elsevier, vol. 62(2), pages 558-572, March.
  7. Luis C. Corchón & M. Socorro Puy, 2002. "Existence and Nash implementation of efficient sharing rules for a commonly owned technology," Social Choice and Welfare, Springer, vol. 19(2), pages 369-379, April.
  8. Liqun Liu & Guoqiang Tian, 1999. "A characterization of the existenceof optimal dominant strategy mechanisms," Review of Economic Design, Springer, vol. 4(3), pages 205-218.
  9. Pfingsten, Andreas, 1991. "Surplus-sharing methods," Mathematical Social Sciences, Elsevier, vol. 21(3), pages 287-301, June.
  10. Shasikanta Nandeibam, 2003. "Implementation in teams," Economic Theory, Springer, vol. 22(3), pages 569-581, October.
  11. Moulin, Herve, 1994. "Serial Cost-Sharing of Excludable Public Goods," Review of Economic Studies, Wiley Blackwell, vol. 61(2), pages 305-25, April.
  12. François Maniquet & Yves Sprumont, 1999. "Efficient strategy-proof allocation functions in linear production economies," Economic Theory, Springer, vol. 14(3), pages 583-595.
  13. Leroux, Jistin, 2004. "Strategy-Proofness and Efficiency Are Incompatible in Production Economies," Working Papers 2004-07, Rice University, Department of Economics.
  14. Browning, M J, 1983. "Efficient Decentralisation with a Transferable Good," Review of Economic Studies, Wiley Blackwell, vol. 50(2), pages 375-81, April.
  15. Leroux, Justin, 2004. "Strategy-proofness and efficiency are incompatible in production economies," Economics Letters, Elsevier, vol. 85(3), pages 335-340, December.
  16. Shigehiro Serizawa, 1999. "Strategy-Proof and Symmetric Social Choice Functions for Public Good Economies," Econometrica, Econometric Society, vol. 67(1), pages 121-146, January.
  17. Ohseto, Shinji, 1997. "Strategy-proof mechanisms in public good economies," Mathematical Social Sciences, Elsevier, vol. 33(2), pages 157-183, April.
  18. Leroux, Justin, 2005. "Strategyproof Profit Sharing: A Two-Agent Characterization," Working Papers 2005-04, Rice University, Department of Economics.
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