Sharing Some Thoughts on Weitzman's The Share Economy
AbstractThis 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.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 1734.
Date of creation: Oct 1985
Date of revision:
Publication status: published as "Will Share Contracts Increase Economic Welfare? From The American Economic Review, Vol. 78, No. 1, (March 1988).
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Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Web page: http://www.nber.org
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- Hart, Oliver, 1982. "A Model of Imperfect Competition with Keynesian Features," The Quarterly Journal of Economics, MIT Press, vol. 97(1), pages 109-38, February.
- Russell Cooper & John Andrew, 1985. "Coordinating Coordination Failures in Keynesian Models," Cowles Foundation Discussion Papers 745R, Cowles Foundation for Research in Economics, Yale University, revised Jul 1985.
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