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Natural and double implementation of public ownership solutions in differentiable production economies

Author

Listed:
  • Naoki Yoshihara

    () (Faculty of Economics, Hokkaido University, Kita-Ku Kita 9 Nishi 7, Sapporo, Hokkaido 060-0809, Japan)

Abstract

This paper examines the implementation of two public ownership solutions in convex production economies with differentiable production functions. The two public ownership solutions we focus on are the proportional and equal benefit solutions. Two "natural" mechanisms which doubly implement the proportional and equal benefit solutions respectively in Nash and strong Nash equilibria are proposed without assuming free disposal.

Suggested Citation

  • Naoki Yoshihara, 1999. "Natural and double implementation of public ownership solutions in differentiable production economies," Review of Economic Design, Springer;Society for Economic Design, vol. 4(2), pages 127-151.
  • Handle: RePEc:spr:reecde:v:4:y:1999:i:2:p:127-151
    Note: Received: 7 May 1996 / Accepted: 1 December 1998
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    Cited by:

    1. Tian, Guoqiang, 2009. "Implementation of Pareto efficient allocations," Journal of Mathematical Economics, Elsevier, vol. 45(1-2), pages 113-123, January.
    2. Matthew O. Jackson, 2001. "A crash course in implementation theory," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 18(4), pages 655-708.
    3. Tian, Guoqiang, 2003. "A solution to the problem of consumption externalities," Journal of Mathematical Economics, Elsevier, vol. 39(8), pages 831-847, November.
    4. Suh, Sang-Chul, 2001. "An algorithm for verifying double implementability in Nash and strong Nash equilibria," Mathematical Social Sciences, Elsevier, vol. 41(1), pages 103-110, January.
    5. Tomas Sjöström, 1994. "Implementation by demand mechanisms," Review of Economic Design, Springer;Society for Economic Design, vol. 1(1), pages 343-354, December.
    6. Tian, Guoqiang, 2000. "Incentive Mechanism Design for Production Economies with Both Private and Public Ownerships," Games and Economic Behavior, Elsevier, vol. 33(2), pages 294-320, November.

    More about this item

    Keywords

    Double implemantation; the proportional solution; the equal benefit solution; natural mechanisms;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
    • H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods

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