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Majority stable production equilibria : a multivariate mean shareholders theorem

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Author Info

  • CRES, Herve

Abstract

In a simple parametric general equilibrium model with S states of nature and K

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Bibliographic Info

Paper provided by HEC Paris in its series Les Cahiers de Recherche with number 706.

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Length: 39 pages
Date of creation: 01 Jun 2000
Date of revision:
Handle: RePEc:ebg:heccah:0706

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Postal: HEC Paris, 78351 Jouy-en-Josas cedex, France
Web page: http://www.hec.fr/
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Related research

Keywords: Shareholder's vote; general equilibrium; incomplete markets; super majority;

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References

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  1. Grossman, Sanford J & Hart, Oliver D, 1979. "A Theory of Competitive Equilibrium in Stock Market Economies," Econometrica, Econometric Society, vol. 47(2), pages 293-329, March.
  2. Kramer, Gerald H, 1973. "On a Class of Equilibrium Conditions for Majority Rule," Econometrica, Econometric Society, vol. 41(2), pages 285-97, March.
  3. Greenberg, Joseph, 1979. "Consistent Majority Rules over Compact Sets of Alternatives," Econometrica, Econometric Society, vol. 47(3), pages 627-36, May.
  4. Caplin, Andrew S & Nalebuff, Barry J, 1988. "On 64%-Majority Rule," Econometrica, Econometric Society, vol. 56(4), pages 787-814, July.
  5. Caplin, A. & Nalebuff, B., 1989. "Aggregation And Social Choice: A Mean Voter Theorem," Discussion Papers 1989_31, Columbia University, Department of Economics.
  6. Dierker, E. & Dierker, H. & Grobal, B., 1999. "Incomplete Markets and the Firm," Papers 99-03, Carleton - School of Public Administration.
  7. Grandmont, Jean-Michel, 1978. "Intermediate Preferences and the Majority Rule," Econometrica, Econometric Society, vol. 46(2), pages 317-30, March.
  8. Cres, Herve & Tvede, Mich, 2001. "Ordering Pareto-optima through majority voting," Mathematical Social Sciences, Elsevier, vol. 41(3), pages 295-325, May.
  9. DeMarzo, Peter M, 1993. "Majority Voting and Corporate Control: The Rule of the Dominant Shareholder," Review of Economic Studies, Wiley Blackwell, vol. 60(3), pages 713-34, July.
  10. John Geanakoplos & Michael Magill & Martine Quinzii & J. Dreze, 1988. "Generic Inefficiency of Stock Market Equilibrium When Markets Are Incomplete," Cowles Foundation Discussion Papers 863, Cowles Foundation for Research in Economics, Yale University.
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Citations

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Cited by:
  1. CRES, Herve & TVEDE, Mich, 2001. "Proxy fights in incomplete markets: when majority voting and sidepayments are equivalent," Les Cahiers de Recherche 726, HEC Paris.
  2. Beker, Pablo F, 2007. "Market Selection and Payout Policy Under Majority Rule," The Warwick Economics Research Paper Series (TWERPS) 814, University of Warwick, Department of Economics.

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