Existence and Nash implementation of efficient sharing rules for a commonly owned technology
Suppose that a group of individuals owns collectively a technology which produces a consumption good by means of a (possibly heterogeneous) input. A sharing rule associates input contributions with a vector of consumptions that are technologically feasible. We show that the set of allocations obtained by any continuous sharing rule contains Pareto efficient allocations. We also present a mechanism that implements in Nash equilibrium the Pareto efficient allocations contained in an arbitrary sharing rule.
Volume (Year): 19 (2002)
Issue (Month): 2 ()
|Note:||Received: 29 June 1998/Accepted: 15 November 2000|
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