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Characterizations of the Public and Private Ownership Solutions

Listed author(s):
  • Yoshihara, N.

This paper characterizes two public ownership solutions in convex production economies with multiple inputs and multiple outputs, known respectively as the proportional and equal benefit solutions (Roemer and Silvestre (1989)), by means of axioms of upper and unanimously lower bounds of welfare respectively and an axiom of informational efficiency, Supporting Price Independence.

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Paper provided by Institute of Social and Economic Research, Osaka University in its series ISER Discussion Paper with number 0457.

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Length: 28 pages
Date of creation: 1998
Handle: RePEc:dpr:wpaper:0457
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  1. Hervé Moulin, 1990. "Joint Ownership of a Convex Technology: Comparison of Three Solutions," Review of Economic Studies, Oxford University Press, vol. 57(3), pages 439-452.
  2. Nagahisa, Ryo-ichi, 1991. "A local independence condition for characterization of Walrasian allocations rule," Journal of Economic Theory, Elsevier, vol. 54(1), pages 106-123, June.
  3. Fleurbaey, Marc & Maniquet, Francois, 1996. "Cooperative Production: A Comparison of Welfare Bounds," Games and Economic Behavior, Elsevier, vol. 17(2), pages 200-208, December.
  4. Maniquet, Francois, 1996. "Allocation Rules for a Commonly Owned Technology: The Average Cost Lower Bound," Journal of Economic Theory, Elsevier, vol. 69(2), pages 490-507, May.
  5. FrÊdÊric Gaspart, 1997. "Objective measures of well-being and the cooperative production problem," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 15(1), pages 95-112.
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