Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- CRES, Herve, 2000. "Majority stable production equilibria : a multivariate mean shareholders theorem," HEC Research Papers Series 706, HEC Paris.
- Hervé Crès, 2000. "Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem," Working Papers hal-00598173, HAL.
- Hervé Crès, 2000. "Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem," Working Papers hal-01064883, HAL.
References listed on IDEAS
- Alessandro Citanna & Antonio Villanacci, 2004. "Pooling and endogenous market incompleteness," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 24(3), pages 549-560, October.
- Caplin, Andrew & Nalebuff, Barry, 1991.
"Aggregation and Social Choice: A Mean Voter Theorem,"
Econometrica, Econometric Society, vol. 59(1), pages 1-23, January.
- Andrew Caplin & Barry Nalebuff, 1990. "Aggregation and Social Choice: A Mean Voter Theorem," Cowles Foundation Discussion Papers 938, Cowles Foundation for Research in Economics, Yale University.
- Cres, Herve & Tvede, Mich, 2001.
"Ordering Pareto-optima through majority voting,"
Mathematical Social Sciences, Elsevier, vol. 41(3), pages 295-325, May.
- Hervé, CRES & Mich, TVEDE, 1998. "Ordering Pareto-Optima Through Majority Voting," HEC Research Papers Series 638, HEC Paris.
- Mich Tvede & Hervé Crès, 2000. "Ordering Pareto-Optima through Majority Voting," Discussion Papers 00-15, University of Copenhagen. Department of Economics.
- Hervé Crès & Mich Tvede, 1998. "Ordering Pareto-Optima Through Majority Voting," Working Papers hal-00601583, HAL.
- Caplin, Andrew S & Nalebuff, Barry J, 1988. "On 64%-Majority Rule," Econometrica, Econometric Society, vol. 56(4), pages 787-814, July.
- Egbert Dierker & Hildegard Dierker & Birgit Grodal, 1999.
"Incomplete Markets and the Firm,"
CIE Discussion Papers
1999-05, University of Copenhagen. Department of Economics. Centre for Industrial Economics.
- Dierker, E. & Dierker, H. & Grobal, B., 1999. "Incomplete Markets and the Firm," Papers 99-03, Carleton - School of Public Administration.
- Dierker, E. & Dierker, H. & Grodal, B., 1999. "Incomplete Markets and the Firm," Papers 9902, Washington St. Louis - School of Business and Political Economy.
- Egbert Dierker & Hildegard Dierker & Birgit Grodal, 1999. "Incomplete Markets and the Firm," Vienna Economics Papers vie9902, University of Vienna, Department of Economics.
- Egbert Dierker & Hildegard Dierker & Birgit Grodal, 1999. "Incomplete Markets and the Firm," Discussion Papers 99-03, University of Copenhagen. Department of Economics.
- Grandmont, Jean-Michel, 1978. "Intermediate Preferences and the Majority Rule," Econometrica, Econometric Society, vol. 46(2), pages 317-330, March.
- Alessandro Citanna & Antonio Villanacci, 1997. "Production, pooling and endogenous market incompleteness," GSIA Working Papers 137, Carnegie Mellon University, Tepper School of Business.
- Jacques H. Drèze (ed.), 1974. "Allocation under Uncertainty: Equilibrium and Optimality," International Economic Association Series, Palgrave Macmillan, number 978-1-349-01989-2, December.
- Peter M. DeMarzo, 1993. "Majority Voting and Corporate Control: The Rule of the Dominant Shareholder," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 60(3), pages 713-734.
- Geanakoplos, J. & Magill, M. & Quinzii, M. & Dreze, J., 1990.
"Generic inefficiency of stock market equilibrium when markets are incomplete,"
Journal of Mathematical Economics, Elsevier, vol. 19(1-2), pages 113-151.
- John Geanakoplos & Michael Magill & Martine Quinzii & J. Dreze, 1988. "Generic Inefficiency of Stock Market Equilibrium When Markets Are Incomplete," Cowles Foundation Discussion Papers 863, Cowles Foundation for Research in Economics, Yale University.
- Geanakoplos, J. & Magill, M. & Quinzii, M. & Dreze, J., 1990. "Generic inefficiency of stock market equilibrium when markets are incomplete," LIDAM Reprints CORE 916, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Kramer, Gerald H, 1973. "On a Class of Equilibrium Conditions for Majority Rule," Econometrica, Econometric Society, vol. 41(2), pages 285-297, March.
- Greenberg, Joseph, 1979. "Consistent Majority Rules over Compact Sets of Alternatives," Econometrica, Econometric Society, vol. 47(3), pages 627-636, May.
- Grossman, Sanford J & Hart, Oliver D, 1979.
"A Theory of Competitive Equilibrium in Stock Market Economies,"
Econometrica, Econometric Society, vol. 47(2), pages 293-329, March.
- Sanford Grossman & Oliver Hart, 1978. "A theory of competitive equilibrium in stock market economies," Special Studies Papers 115, Board of Governors of the Federal Reserve System (U.S.).
- Jacques H. Drèze, 1974.
"Investment Under Private Ownership: Optimality, Equilibrium and Stability,"
International Economic Association Series, in: Jacques H. Drèze (ed.), Allocation under Uncertainty: Equilibrium and Optimality, chapter 9, pages 129-166,
Palgrave Macmillan.
- DREZE, Jacques H., 1974. "Investment under private ownership: Optimality, equilibrium and stability," LIDAM Reprints CORE 197, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Mich Tvede & Hervé Crés, 2005.
"Voting in assemblies of shareholders and incomplete markets,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 26(4), pages 887-906, November.
- Hervé Crès & Mich Tvede, 2001. "Voting in Assemblies of Shareholders and Incomplete Markets," Working Papers hal-00597193, HAL.
- Mich Tvede & Hervé Crès, 2001. "Voting in Assemblies of shareholders and Incomplete Markets," Working Papers hal-01064884, HAL.
- Mich Tvede & Hervé Crès, 2004. "Voting in Assemblies of Shareholders and Incomplete Markets," Discussion Papers 04-09, University of Copenhagen. Department of Economics.
- CRES, Herve & TVEDE, Mich, 2001. "Voting in assemblies of shareholders and incomplete markets," HEC Research Papers Series 722, HEC Paris.
- Mich Tvede & Hervé Crès, 2001. "Voting in Assemblies of shareholders and Incomplete Markets," Sciences Po publications 722/2001, Sciences Po.
- Hervé Crès & Mich Tvede, 2001.
"Proxy fights in incomplete markets: when majority voting and sidepayments are equivalent,"
Sciences Po publications
726/2001, Sciences Po.
- Hervé Crès & Mich Tvede, 2001. "Proxy fights in incomplete markets: when majority voting and sidepayments are equivalent," Working Papers hal-01065004, HAL.
- CRES, Herve & TVEDE, Mich, 2001. "Proxy fights in incomplete markets: when majority voting and sidepayments are equivalent," HEC Research Papers Series 726, HEC Paris.
- Hervé Crès & Mich Tvede, 2001. "Proxy fights in incomplete markets: when majority voting and sidepayments are equivalent," Working Papers hal-00597200, HAL.
- Beker, Pablo F., 2007.
"Market Selection And Payout Policy Under Majority Rule,"
Economic Research Papers
269763, University of Warwick - Department of Economics.
- Beker, Pablo F, 2007. "Market Selection and Payout Policy Under Majority Rule," The Warwick Economics Research Paper Series (TWERPS) 814, University of Warwick, Department of Economics.
- repec:hal:spmain:info:hdl:2441/10282 is not listed on IDEAS
- repec:hal:spmain:info:hdl:2441/10283 is not listed on IDEAS
- Hervé Crès & Mich Tvede, 2001. "Proxy fights in incomplete markets: when majority voting and sidepayments are equivalent," SciencePo Working papers hal-01065004, HAL.
- Hervé Crès & Mich Tvede, 2001. "Proxy fights in incomplete markets: when majority voting and sidepayments are equivalent," SciencePo Working papers Main hal-01065004, HAL.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- repec:hal:spmain:info:hdl:2441/10284 is not listed on IDEAS
- Hervé Crès & Mich Tvede, 2001.
"Proxy fights in incomplete markets: when majority voting and sidepayments are equivalent,"
Sciences Po publications
726/2001, Sciences Po.
- CRES, Herve & TVEDE, Mich, 2001. "Proxy fights in incomplete markets: when majority voting and sidepayments are equivalent," HEC Research Papers Series 726, HEC Paris.
- Hervé Crès & Mich Tvede, 2001. "Proxy fights in incomplete markets: when majority voting and sidepayments are equivalent," Working Papers hal-00597200, HAL.
- Hervé Crès & Mich Tvede, 2001. "Proxy fights in incomplete markets: when majority voting and sidepayments are equivalent," Working Papers hal-01065004, HAL.
- repec:hal:spmain:info:hdl:2441/10282 is not listed on IDEAS
- repec:spo:wpecon:info:hdl:2441/10284 is not listed on IDEAS
- repec:hal:wpspec:info:hdl:2441/10284 is not listed on IDEAS
- Hervé Crès, 2000. "Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem," SciencePo Working papers Main hal-01064883, HAL.
- Hervé Crès, 2000. "Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem," SciencePo Working papers hal-01064883, HAL.
- repec:hal:spmain:info:hdl:2441/10283 is not listed on IDEAS
- Mich Tvede & Hervé Crés, 2005.
"Voting in assemblies of shareholders and incomplete markets,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 26(4), pages 887-906, November.
- Hervé Crès & Mich Tvede, 2001. "Voting in Assemblies of Shareholders and Incomplete Markets," Working Papers hal-00597193, HAL.
- CRES, Herve & TVEDE, Mich, 2001. "Voting in assemblies of shareholders and incomplete markets," HEC Research Papers Series 722, HEC Paris.
- Mich Tvede & Hervé Crès, 2004. "Voting in Assemblies of Shareholders and Incomplete Markets," Discussion Papers 04-09, University of Copenhagen. Department of Economics.
- Mich Tvede & Hervé Crès, 2001. "Voting in Assemblies of shareholders and Incomplete Markets," Working Papers hal-01064884, HAL.
- Mich Tvede & Hervé Crès, 2001. "Voting in Assemblies of shareholders and Incomplete Markets," Sciences Po publications 722/2001, Sciences Po.
- repec:spo:wpecon:info:hdl:2441/10282 is not listed on IDEAS
- repec:hal:wpspec:info:hdl:2441/10282 is not listed on IDEAS
- Hervé Crès & Mich Tvede, 2005.
"Portfolio Diversification and Internalization of Production Externalities through Majority Voting,"
Working Papers
hal-00587205, HAL.
- Hervé Crès & Mich Tvede, 2005. "Portfolio Diversification and Internalization of Production Externalities through Majority Voting," Working Papers hal-01065579, HAL.
- Crès, Hervé & Tvede, Mich, 2006. "Portfolio diversification and internalization of production externalities through majority voting," HEC Research Papers Series 816, HEC Paris.
- Hervé Crès & Mich Tvede, 2005. "Portfolio Diversification and Internalization of Production Externalities through Majority Voting," Sciences Po publications 816/2005, Sciences Po.
- repec:spo:wpecon:info:hdl:2441/10281 is not listed on IDEAS
- Hervé Crès & Mich Tvede, 2001. "Proxy fights in incomplete markets: when majority voting and sidepayments are equivalent," SciencePo Working papers Main hal-01065004, HAL.
- Hervé Crès & Mich Tvede, 2001. "Proxy fights in incomplete markets: when majority voting and sidepayments are equivalent," SciencePo Working papers hal-01065004, HAL.
- repec:hal:spmain:info:hdl:2441/10281 is not listed on IDEAS
- repec:hal:wpspec:info:hdl:2441/10281 is not listed on IDEAS
- Hervé Crès & Mich Tvede, 2013.
"Production externalities: internalization by voting,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 53(2), pages 403-424, June.
- Mich Tvede & Hervé Crès, 2011. "Production externalities: internalization by voting," Sciences Po publications info:hdl:2441/eu4vqp9ompq, Sciences Po.
- Hervé Crès & Mich Tvede, 2011. "Production externalities: internalization by voting," Working Papers hal-00972983, HAL.
- CRES, Hervé & TVEDE, Mich, 2004.
"The Dreze and Grossman-Hart criteria for production in incomplete markets: Voting foundations and compared political stability,"
HEC Research Papers Series
794, HEC Paris.
- Hervé Crès & Mich Tvede, 2004. "The Drèze and Grossman-Hart criteria for production in incomplete markets: Voting foundations and compared political stability," Working Papers hal-00591676, HAL.
- repec:hal:wpspec:info:hdl:2441/eu4vqp9ompqllr09ieq060086 is not listed on IDEAS
- repec:hal:spmain:info:hdl:2441/eu4vqp9ompqllr09ieq060086 is not listed on IDEAS
- Hervé Crès & Mich Tvede, 2005. "Portfolio Diversification and Internalization of Production Externalities through Majority Voting," SciencePo Working papers hal-01065579, HAL.
- repec:hal:wpspec:info:hdl:2441/10283 is not listed on IDEAS
- repec:spo:wpecon:info:hdl:2441/eu4vqp9ompqllr09ieq060086 is not listed on IDEAS
- repec:spo:wpecon:info:hdl:2441/10283 is not listed on IDEAS
- Hervé Crès & Mich Tvede, 2005. "Portfolio Diversification and Internalization of Production Externalities through Majority Voting," SciencePo Working papers Main hal-01065579, HAL.
- Mich Tvede & Hervé Crès, 2001. "Voting in Assemblies of shareholders and Incomplete Markets," SciencePo Working papers hal-01064884, HAL.
- repec:hal:spmain:info:hdl:2441/eu4vqp9ompqllr09iepsg269m is not listed on IDEAS
- Caplin, Andrew & Nalebuff, Barry, 1991.
"Aggregation and Imperfect Competition: On the Existence of Equilibrium,"
Econometrica, Econometric Society, vol. 59(1), pages 25-59, January.
- Andrew Caplin & Barry Nalebuff, 1990. "Aggregation and Imperfect Competition: On the Existence of Equilibrium," Cowles Foundation Discussion Papers 937, Cowles Foundation for Research in Economics, Yale University.
- Caplin, Andrew & Nalebuff, Barry, 1991.
"Aggregation and Social Choice: A Mean Voter Theorem,"
Econometrica, Econometric Society, vol. 59(1), pages 1-23, January.
- Andrew Caplin & Barry Nalebuff, 1990. "Aggregation and Social Choice: A Mean Voter Theorem," Cowles Foundation Discussion Papers 938, Cowles Foundation for Research in Economics, Yale University.
- Crès, Hervé & Tvede, Mich, 2009.
"Production in incomplete markets: Expectations matter for political stability,"
Journal of Mathematical Economics, Elsevier, vol. 45(3-4), pages 212-222, March.
- Hervé Crès & Mich Tvede, 2009. "Production in incomplete markets: Expectations matter for political stability," Post-Print hal-01022731, HAL.
- Hervé Crès & Mich Tvede, 2009. "Production in incomplete markets: Expectations matter for political stability," Sciences Po publications info:hdl:2441/10267, Sciences Po.
- Hervé Crès & Mich Tvede, 2009. "Production in Incomplete Markets: Expectations Matter for Political Stability," Discussion Papers 09-01, University of Copenhagen. Department of Economics.
- Nicolas Caramp & Julian Kozlowski & Keisuke Teeple, 2022. "Liquidity and Investment in General Equilibrium," Working Papers 2022-022, Federal Reserve Bank of St. Louis, revised 22 May 2023.
- repec:hal:spmain:info:hdl:2441/10277 is not listed on IDEAS
- Hervé Crès & M. Utku Ünver, 2010.
"Ideology and Existence of 50%-Majority Equilibria in Multidimensional Spatial Voting Models,"
Journal of Theoretical Politics, , vol. 22(4), pages 431-444, October.
- Hervé Crès & Utku Ünver, 2005. "Ideology and existence of 50%-majority equilibria in multidimensional spatial voting models," Post-Print halshs-00006729, HAL.
- Hervé Crès & Utku Unver, 2010. "Ideology and existence of 50% majority equilibria in Multidimensional spatial voting Models," SciencePo Working papers Main hal-01023800, HAL.
- Hervé Crès & Utku Unver, 2010. "Ideology and existence of 50% majority equilibria in Multidimensional spatial voting Models," Post-Print hal-01023800, HAL.
- Hervé Crès & Utku Unver, 2010. "Ideology and existence of 50% majority equilibria in Multidimensional spatial voting Models," Sciences Po publications info:hdl:2441/eu4vqp9ompq, Sciences Po.
- Hervé Crès & M. Utku Ünver, 2008. "Ideology and Existence of 50%-Majority Equilibria in Multidimensional Spatial Voting Models," Boston College Working Papers in Economics 716, Boston College Department of Economics.
- Hervé Crès & Utku Unver, 2005. "Ideology and existence of 50% : Majority equilibria in multidimensional spatial voting models," Sciences Po publications 818/2005, Sciences Po.
- Hervé Crès & Utku Unver, 2005. "Ideology and existence of 50% : Majority equilibria in multidimensional spatial voting models," SciencePo Working papers Main hal-01065582, HAL.
- Crès, Hervé & Ünver, Utku, 2006. "Ideology and existence of 50%-majority equilibria in multidimensional spatial voting models," HEC Research Papers Series 818, HEC Paris.
- Hervé Crès & Utku Unver, 2005. "Ideology and existence of 50% : Majority equilibria in multidimensional spatial voting models," Working Papers hal-01065582, HAL.
- Herve Cres & M. Utku Unver, 2005. "Ideology and existence of 50%-majority equilibria in multidimensional spatial voting models," Microeconomics 0506007, University Library of Munich, Germany.
- Alberto Bisin & Gian Luca Clementi & Piero Gottardi, 2014.
"Capital Structure and Hedging Demand with Incomplete Markets,"
NBER Working Papers
20345, National Bureau of Economic Research, Inc.
- Gottardi, Piero & Bisin, Alberto & Clementi, Gian Luca, 2022. "Capital Structure and Hedging Demand with Incomplete Markets," CEPR Discussion Papers 16968, C.E.P.R. Discussion Papers.
- repec:spo:wpecon:info:hdl:2441/10277 is not listed on IDEAS
- repec:hal:wpspec:info:hdl:2441/10277 is not listed on IDEAS
- Guido Ruta & Piero Gottardi, 2009.
"Equilibrium corporate finance,"
2009 Meeting Papers
149, Society for Economic Dynamics.
- Alberto Bisin & Piero Gottardi & Guido Ruta, 2010. "Equilibrium Corporate Finance," Economics Working Papers ECO2010/01, European University Institute.
- Egbert Dierker & Hildegard Dierker & Birgit Grodal, 2002.
"Nonexistence of Constrained Efficient Equilibria When Markets are Incomplete,"
Econometrica, Econometric Society, vol. 70(3), pages 1245-1251, May.
- Egbert Dierker & Hildegard Dierker & Birgit Grodal, 2000. "Nonexistence of Constrained Efficient Equilibria when Markets are Incomplete," CIE Discussion Papers 2000-07, University of Copenhagen. Department of Economics. Centre for Industrial Economics.
- Egbert Dierker & Hildegard Dierker & Birgit Grodal, 2001. "Nonexistence of constrained Efficient Equilibria when Markets are Incomplete," Vienna Economics Papers 0111, University of Vienna, Department of Economics.
More about this item
JEL classification:
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
- G39 - Financial Economics - - Corporate Finance and Governance - - - Other
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spo:wpmain:info:hdl:2441/10284. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Spire @ Sciences Po Library (email available below). General contact details of provider: https://edirc.repec.org/data/ecspofr.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.