Cost monotonic mechanisms
We 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.
(This abstract was borrowed from another version of this item.)
Volume (Year): 20 (1996)
Issue (Month): 1 (January)
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Moulin, Herve & Thomson, William, 1988. "Can everyone benefit from growth? : Two difficulties," Journal of Mathematical Economics, Elsevier, vol. 17(4), pages 339-345, September.
- Elisha A. Pazner & David Schmeidler, 1978.
"Egalitarian Equivalent Allocations: A New Concept of Economic Equity,"
The Quarterly Journal of Economics,
Oxford University Press, vol. 92(4), pages 671-687.
- Elisha A. Pazner & David Schmeidler, 1975. "Egalitarian Equivalent Allocations: A New Concept of Economic Equity," Discussion Papers 174, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Herbert E. Scarf, 1965. "The Core of an N Person Game," Cowles Foundation Discussion Papers 182R, Cowles Foundation for Research in Economics, Yale University.
- Moulin, Herve, 1992. "An Application of the Shapley Value to Fair Division with Money," Econometrica, Econometric Society, vol. 60(6), pages 1331-49, November.
- William Thomson, 2007. "Fair Allocation Rules," RCER Working Papers 539, University of Rochester - Center for Economic Research (RCER).
- Moulin, Herve, 1987. "Egalitarian-Equivalent Cost Sharing of a Public Good," Econometrica, Econometric Society, vol. 55(4), pages 963-76, July.
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