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.
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Paper provided by Osaka - Institute of Social and Economic Research in its series Papers with number
457.
Length: 28 pages Date of creation: 1998 Date of revision: Handle: RePEc:fth:osakae:457
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Find related papers by 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-Making and Implementation H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods
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