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Full Characterizations of Public Ownership Solutions

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Listed:
  • Yoshihara, N.

Abstract

This paper completely characterizes two public ownership solutions in convex production economies, known respectively as the Proportional Solution (PR), and the Equal Benefit Solution (EB), by adopting the axioms Moulin (1990a,b) discussed and introducing two other axioms, Pareto Independence (PI) and Support Price Independence (SPI).

Suggested Citation

  • Yoshihara, N., 1996. "Full Characterizations of Public Ownership Solutions," ISER Discussion Paper 0406, Institute of Social and Economic Research, Osaka University.
  • Handle: RePEc:dpr:wpaper:0406
    as

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    References listed on IDEAS

    as
    1. Hansen, Lars Peter, 1982. "Large Sample Properties of Generalized Method of Moments Estimators," Econometrica, Econometric Society, vol. 50(4), pages 1029-1054, July.
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    3. Kiyotaki, Nobuhiro & Moore, John, 1997. "Credit Cycles," Journal of Political Economy, University of Chicago Press, pages 211-248.
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    7. Takeo Hoshi & Anil Kashyap & David Scharfstein, 1990. "Bank Monitoring and Investment: Evidence from the Changing Structure of Japanese Corporate Banking Relationships," NBER Chapters,in: Asymmetric Information, Corporate Finance, and Investment, pages 105-126 National Bureau of Economic Research, Inc.
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    More about this item

    Keywords

    GAMES; GENERAL EQUILIBRIUM; COST-BENEFIT ANALYSIS; PUBLIC GOODS;

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods

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