Efficiency, monotonicity and rationality in public goods economies

B-Tier
Journal: Economic Theory
Year: 1998
Volume: 12
Issue: 2
Pages: 423-432

Authors (2)

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

In economies with public goods, we identify a necessary and sufficient condition for the existence of cost monotonic, Pareto optimal and individually rational mechanisms. These exist if and only if the preferences of the agents satisfy what we call the equal ordering property. We also show that when this condition holds the egalitarian equivalent correspondence is the only cost monotonic selection from the core of the economy. Furthermore, it is unambiguous in the sense that the agents are indifferent among all the allocations in it.

Technical Details

RePEc Handle
repec:spr:joecth:v:12:y:1998:i:2:p:423-432
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25