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Sharing Some Thoughts on Weitzman's The Share Economy

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  • Russell Cooper

Abstract

This paper explores the positive and normative aspects of share contracts. In particular, the paper explores the properties of a share system as advanced by Martin Weitzman in The Share Economy.The model employed highlights a "macroeconomic externality" created in a multi-sector economy with imperfect competition. The introduction of share contracts is shown to influence the comparative static properties of the model economy and in some cases to lead to Pareto superior outcomes.

Suggested Citation

  • Russell Cooper, 1985. "Sharing Some Thoughts on Weitzman's The Share Economy," NBER Working Papers 1734, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:1734
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    References listed on IDEAS

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    1. Russell Cooper & Andrew John, 1988. "Coordinating Coordination Failures in Keynesian Models," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 103(3), pages 441-463.
    2. Oliver Hart, 1982. "A Model of Imperfect Competition with Keynesian Features," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 97(1), pages 109-138.
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    1. Martin L. Weitzman, 1986. "Macroeconomic Implications of Profit Sharing," NBER Chapters, in: NBER Macroeconomics Annual 1986, Volume 1, pages 291-354, National Bureau of Economic Research, Inc.
    2. Nordhaus, William & John, Andrew, 1986. "The share economy: A symposium," Journal of Comparative Economics, Elsevier, vol. 10(4), pages 414-415, December.

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