Characterizations of the Public and Private Ownership Solutions
AbstractThis paper characterizes two public ownership solutions in convex production economies with multiple inputs and multiple outputs, known respectively as the proportional and equal benefit solutions (Roemer and Silvestre (1989)), by means of axioms of upper and unanimously lower bounds of welfare respectively and an axiom of informational efficiency, Supporting Price Independence.
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Bibliographic InfoPaper provided by Institute of Social and Economic Research, Osaka University in its series ISER Discussion Paper with number 0457.
Length: 28 pages
Date of creation: 1998
Date of revision:
OWNERSHIP ; ECONOMIC EQUILIBRIUM;
Other versions of this item:
- Yoshihara, Naoki, 1998. "Characterizations of the public and private ownership solutions," Mathematical Social Sciences, Elsevier, vol. 35(2), pages 165-184, March.
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
- D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
- H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods
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