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Three Methods to Share Joint Costs or Surplus

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  • Eric Friedman
  • Moulin, Herve

Abstract

We study cost sharing methods with variable demands of heterogeneous goods, additive in the cost function and meeting the Dummy axiom. We consider four axioms: Scale Invariance (SI); Demand Monotonicity (DM); Upper Bound for Homogeneous Goods (UBH) placing a natural cap on cost shares when goods are homogeneous; Average Cost Pricing for Homogeneous Goods (ACPH). The random order values based on Stand Alone costs are characterized by SI and DM. Serial costsharing, by DM and UB; the Aumann-Shapley pricing method, by SI and ACPH. No other combination of the four axioms is compatible with Additivity and Dummy.

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Bibliographic Info

Paper provided by Duke University, Department of Economics in its series Working Papers with number 95-38.

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Date of creation: 1995
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Publication status: Published in JOURNAL OF ECONOMIC THEORY, Vol. 87, 1999, pages 275-331
Handle: RePEc:duk:dukeec:95-38

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Postal: Department of Economics Duke University 213 Social Sciences Building Box 90097 Durham, NC 27708-0097
Phone: (919) 660-1800
Fax: (919) 684-8974
Web page: http://econ.duke.edu/

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