Cost Monotonic Mecanisms
AbstractWe study the existence of cost monotonic selections of the core in economies with several public goods. Under quasilinear utilities there is a cost inonotonic core selection mechanism if and only if the agents order the bundles of public goods equally. If this is indeed the case, any such mechanism must choose an egalitarian equivalent allocation. The equal ordering property is no longer required in the case of economies with quasi-linear separable utility functions and separable costs. In this set up, there is essentially only one cost monotoiiic mechanism. Furthermore, it has to select an egalit arian equivalent allocation.
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Bibliographic InfoPaper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 1995-01.
Length: 32 pages
Date of creation: Jan 1995
Date of revision:
Publication status: Published by Ivie
Public good; cost monotonicity; core; egalit arian equivalent allocations;
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