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Sharing a common resource with concave benefits

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Author Info
Ambec, S.

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Abstract

A group of agents enjoy concave and single-peak benefit functions from consuming a shared resource. They also value money (transfers). The resource is scarce in the sense that not everybody can consume its peak. The paper characterizes the unique (resource and money) allocation that is efficient, incentive compatible and equal-sharing individual rational. It can be implemented (i) by selling the resource or taxing extraction and redistributing the money collected equally, or (ii) by assigning property rights on equal shares in a competitive market. Next, the paper posits an allocation that is incentive compatible, individual rational and assigns to every agent no more than its peak benefit.

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File URL: http://www.grenoble.inra.fr/Docs/pub/A2006/gael2006-03.pdf
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Publisher Info
Paper provided by Grenoble Applied Economics Laboratory (GAEL) in its series Working Papers with number 200601.

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Date of creation: 2006
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Handle: RePEc:gbl:wpaper:200601

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Related research
Keywords: COMMON RESOURCE; SINGLE PEAK; INCENTIVE COMPATIBLE; NO ENVY; FAIRNESS;

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Find related papers by JEL classification:
D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Varian, Hal R., 1974. "Equity, envy, and efficiency," Journal of Economic Theory, Elsevier, vol. 9(1), pages 63-91, September. [Downloadable!] (restricted)
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  2. Schmeidler, David & Vind, Karl, 1972. "Fair Net Trades," Econometrica, Econometric Society, vol. 40(4), pages 637-42, July. [Downloadable!] (restricted)
  3. Ching, Stephen, 1992. "A simple characterization of the uniform rule," Economics Letters, Elsevier, vol. 40(1), pages 57-60, September. [Downloadable!] (restricted)
  4. Moulin, Herve, 1991. "Welfare bounds in the fair division problem," Journal of Economic Theory, Elsevier, vol. 54(2), pages 321-337, August. [Downloadable!] (restricted)
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