Three Solutions to a Simple Commons Problem

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Three Solutions to a Simple Commons Problem

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Moulin, Herve (Rice U)

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Herve Moulin

Abstract

We compare the equity and incentive properties of three efficient solutions to a simple problem of cooperative production with binary demands for a homogeneous service, when marginal cost is either monotonically increasing or monotonically decreasing. The solutions are the familiar competitive equilibrium with equal incomes. The Shapley value of the stand alone cooperative game, and the virtual price solution, applying the egalitarian equivalence idea to this particular model.

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Paper provided by Rice University, Department of Economics in its series Working Papers with number 2001-05.

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Date of creation: Oct 2001
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Handle: RePEc:ecl:riceco:2001-05

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References listed on IDEAS
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Moulin, Herve & Shenker, Scott, 1992. "Serial Cost Sharing," Econometrica, Econometric Society, vol. 60(5), pages 1009-37, September. [Downloadable!] (restricted)
Moulin, Herve & Shenker, Scott, 1996. "Strategyproof Sharing of Submodular Access Costs: Budget Balance versus Efficiency," Working Papers 96-31, Duke University, Department of Economics. [Downloadable!]
Moulin, Herve & Cres, Herve, 2000. "Commons with Increasing Marginal Costs: Random Priority versus Average Cost," Working Papers 2000-04, Rice University, Department of Economics. [Downloadable!]
Other versions:
- HervÈ CrËs & HervÈ Moulin, 2003. "Commons with increasing marginal costs: random priority versus average cost," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 44(3), pages 1097-1115, 08. [Downloadable!] (restricted)
Laffont, J. J. & Moulin, H., 1982. "Introduction," Journal of Mathematical Economics, Elsevier, vol. 10(1), pages 1-3, June. [Downloadable!] (restricted)

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