Share equilibrium in local public good economies
We define a concept of share equilibrium for local public good (or club) economies where individual members of the population may have preferences over the membership of their jurisdiction. A share equilibrium specifies one share index for each individual. These indices determine each individual’s cost shares in any jurisdiction that he might join. We demonstrate that the same axioms as those that characterize the Lindahl equilibrium, as discussed in Lindahl’s 1919 paper, also characterize the share equilibrium. Share equilibrium extends the notions of ratio equilibrium and cost share equilibrium (due to Kaneko, 1977; Mas-Colell and Silvestre, 1989) to economies with a local public good and possibly multiple jurisdictions.
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Other publications TiSEM
2dd640c5-a714-4c22-b7dd-5, Tilburg University, School of Economics and Management.
- Anne van den Nouweland & Myrna H. Wooders & S. Tijs, 2002. "Axiomatization of ratio equilibria in public good economies," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 19(3), pages 627-636.
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1398, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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"Axiomatic characterizations of the Walras correspondence for generalized economies,"
1994-58, Tilburg University, Center for Economic Research.
- van den Nouweland, A. & Peleg, B. & Tijs, S., 1996. "Axiomatic characterizations of the Walras correspondence for generalized economies," Journal of Mathematical Economics, Elsevier, vol. 25(3), pages 355-372.
- van den Nouweland, C.G.A.M. & Peleg, B. & Tijs, S.H., 1996. "Axiomatic characterizations of the Walras correspondence for generalized economies," Other publications TiSEM 6ac8c569-8178-4176-9ecf-0, Tilburg University, School of Economics and Management.
- Hervé Moulin, 2000. "Priority Rules and Other Asymmetric Rationing Methods," Econometrica, Econometric Society, vol. 68(3), pages 643-684, May.
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- Mas-Colell, Andreu & Silvestre, Joaquim, 1989. "Cost share equilibria: A Lindahlian approach," Journal of Economic Theory, Elsevier, vol. 47(2), pages 239-256, April.
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