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Characterizations of the Public and Private Ownership Solutions

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  • Yoshihara, N.

Abstract

This 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.

Suggested Citation

  • Yoshihara, N., 1998. "Characterizations of the Public and Private Ownership Solutions," ISER Discussion Paper 0457, Institute of Social and Economic Research, Osaka University.
    • Handle: RePEc:dpr:wpaper:0457
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    References listed on IDEAS

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    1. Fleurbaey, Marc & Maniquet, Francois, 1996. "Cooperative Production: A Comparison of Welfare Bounds," Games and Economic Behavior, Elsevier, vol. 17(2), pages 200-208, December.
    2. FrÊdÊric Gaspart, 1997. "Objective measures of well-being and the cooperative production problem," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 15(1), pages 95-112.
    3. GEVERS, Louis, 1986. "Walrasian social choice: some simple axiomatic approaches," LIDAM Reprints CORE 708, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    4. Nagahisa, Ryo-ichi, 1991. "A local independence condition for characterization of Walrasian allocations rule," Journal of Economic Theory, Elsevier, vol. 54(1), pages 106-123, June.
    5. Maniquet, Francois, 1996. "Allocation Rules for a Commonly Owned Technology: The Average Cost Lower Bound," Journal of Economic Theory, Elsevier, vol. 69(2), pages 490-507, May.
    6. Hervé Moulin, 1990. "Joint Ownership of a Convex Technology: Comparison of Three Solutions," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 57(3), pages 439-452.
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    Cited by:

    1. Thomson, William, 2011. "Chapter Twenty-One - Fair Allocation Rules," Handbook of Social Choice and Welfare, in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 2, chapter 21, pages 393-506, Elsevier.
    2. Kaname Miyagishima, 2015. "Implementability and equity in production economies with unequal skills," Review of Economic Design, Springer;Society for Economic Design, vol. 19(3), pages 247-257, September.

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    More about this item

    Keywords

    OWNERSHIP ; ECONOMIC EQUILIBRIUM;

    JEL classification:

    • 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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