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Efficient Decentralisation with a Transferable Good

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  • M. J. Browning

Abstract

There are many situations where agents supply input factors and produce a transferable good (money). This paper examines the conditions on technology under which agents can specify reward schedules which lead to an efficient outcome even if inputs are chosen non-cooperatively and preferences are private information. The characterisation of the class of technologies that allows this involves a generalization of additivity known as (n − 1)-additivity.

Suggested Citation

  • M. J. Browning, 1983. "Efficient Decentralisation with a Transferable Good," Review of Economic Studies, Oxford University Press, vol. 50(2), pages 375-381.
  • Handle: RePEc:oup:restud:v:50:y:1983:i:2:p:375-381.
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    File URL: http://hdl.handle.net/10.2307/2297423
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    Cited by:

    1. Beviá, Carmen & Corchón, Luis C., 2009. "Cooperative production and efficiency," Mathematical Social Sciences, Elsevier, vol. 57(2), pages 143-154, March.
    2. Vellore Arthi & James Fenske, 2013. "Labour and Health in Colonial Nigeria," Oxford University Economic and Social History Series _114, Economics Group, Nuffield College, University of Oxford.
    3. Vellore Arthi & James Fenske, 2013. "Labour and Health in Colonial Nigeria," Oxford University Economic and Social History Series _114, Economics Group, Nuffield College, University of Oxford.
    4. Arthi, Vellore & Fenske, James, 2016. "Intra-household labor allocation in colonial Nigeria," Explorations in Economic History, Elsevier, vol. 60(C), pages 69-92.

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