Status Equilibrium in Local Public Good Economies
We define a concept of status equilibrium for local public good economies. A status equilibrium specifies one status index for each agent in an economy. These indices determine agentsÂ’ cost shares in any possible jurisdiction. We provide an axiomatic charaterization of status equilibrium using consistency properties.
|Date of creation:||25 Sep 2005|
|Date of revision:||01 May 2008|
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