Axiomatization of ratio equilibria in public good economies
Nouweland, Anne van den, Tijs, Stef and Wooders, Myrna Holtz (2001) Axiomatization of ratio equilibria in public good economies. Working Paper. Coventry: University of Warwick, Department of Economics. Warwick economic research papers (No.585).
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Using consistency properties, we characterize the cost-sharing scheme arising from the ratio equilibrium concept for economies with public goods. The characterization turns out to be surprisingly simple and direct. In contrast to most axiomatic characterizations based on reduced games and consistency properties, our characterization requires that in the reduced game, the players take as given the proportions of the costs paid by the members of the complementary player set, rather than their utility levels.
|Item Type:||Working or Discussion Paper (Working Paper)|
|Subjects:||H Social Sciences > HB Economic Theory|
|Divisions:||Faculty of Social Sciences > Economics|
|Library of Congress Subject Headings (LCSH):||Consistency requirements (Accounting), Equilibrium (Economics), Axiomatic set theory, Public goods, Welfare economics|
|Series Name:||Warwick economic research papers|
|Publisher:||University of Warwick, Department of Economics|
|Place of Publication:||Coventry|
|Official Date:||26 February 2001|
|Number of Pages:||19|
|Status:||Not Peer Reviewed|
|Access rights to Published version:||Open Access|
|Funder:||Social Sciences and Humanities Research Council of Canada (SSHRC)|
 Aumann, R.J. and Maschler, M. (1985) Game theoretic analysis of a bankruptcy problem from the Talmud. Journal of Economic Theory 36, 195-213.
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