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Existence of Share Equilibrium in Symmetric Local Public Good Economies∗

Author

Listed:
  • Anne Van den nouweland

    (University of Oregon)

  • Myrna Wooders

    (Vanderbilt University)

Abstract

Share equilibrium was introduced in van den Nouweland and Wooders (2011) as an extension of ratio equilibrium to local public good economies. In that paper, we took an axiomatic approach to motivate share equilibrium. In the current paper we consider questions related to the existence of share equilibrium and we derive a necessary and sufficient condition for the existence of share equilibrium in symmetric economies. Along the way, we develop a deeper understanding of the possible variation in share equilibrium by considering when symmetric players necessarily have the same share indices in equilibrium.

Suggested Citation

  • Anne Van den nouweland & Myrna Wooders, 2016. "Existence of Share Equilibrium in Symmetric Local Public Good Economies∗," Vanderbilt University Department of Economics Working Papers 16-00008, Vanderbilt University Department of Economics.
    • Handle: RePEc:van:wpaper:vuecon-sub-16-00011
    as

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    References listed on IDEAS

    as
    1. Allouch, Nizar & Wooders, Myrna, 2008. "Price taking equilibrium in economies with multiple memberships in clubs and unbounded club sizes," Journal of Economic Theory, Elsevier, vol. 140(1), pages 246-278, May.
    2. Kaneko, Mamoru, 1977. "The Ratio Equilibria and the Core of the Voting Game G(N, W) in a Public Goods Economy," Econometrica, Econometric Society, vol. 45(7), pages 1589-1594, October.
    3. Jackson, Matthew O. & van den Nouweland, Anne, 2005. "Strongly stable networks," Games and Economic Behavior, Elsevier, vol. 51(2), pages 420-444, May.
    4. Kalyan Chatterjee & Bhaskar Dutia & Debraj Ray & Kunal Sengupta, 2013. "A Noncooperative Theory of Coalitional Bargaining," World Scientific Book Chapters, in: Bargaining in the Shadow of the Market Selected Papers on Bilateral and Multilateral Bargaining, chapter 5, pages 97-111, World Scientific Publishing Co. Pte. Ltd..
    5. Foley, Duncan K, 1970. "Lindahl's Solution and the Core of an Economy with Public Goods," Econometrica, Econometric Society, vol. 38(1), pages 66-72, January.
    6. Gerard Debreu, 1963. "On a Theorem of Scarf," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 30(3), pages 177-180.
    7. Wooders, Myrna Holtz, 1983. "The epsilon core of a large replica game," Journal of Mathematical Economics, Elsevier, vol. 11(3), pages 277-300, July.
    8. Kovalenkov, Alexander & Wooders, Myrna, 2003. "Approximate cores of games and economies with clubs," Journal of Economic Theory, Elsevier, vol. 110(1), pages 87-120, May.
    9. van den Nouweland, Anne & Wooders, Myrna, 2011. "Share equilibrium in local public good economies," Journal of Mathematical Economics, Elsevier, vol. 47(3), pages 376-381.
    10. Wooders, Myrna, 1978. "Equilibria, the core, and jurisdiction structures in economies with a local public good," Journal of Economic Theory, Elsevier, vol. 18(2), pages 328-348, August.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Share equilibrium; Local public goods; Cost shares; Core; Top convexity;
    All these keywords.

    JEL classification:

    • H4 - Public Economics - - Publicly Provided Goods
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory

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    This paper has been announced in the following NEP Reports:

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