Theoretical Economics Letters

Volume 4, Issue 4 (April 2014)

ISSN Print: 2162-2078   ISSN Online: 2162-2086

Google-based Impact Factor: 1.19  Citations  h5-index & Ranking

The Menu-Induced Core of an Economy with an Excludable Public Good

HTML  XML Download Download as PDF (Size: 278KB)  PP. 289-295  
DOI: 10.4236/tel.2014.44039    3,683 Downloads   5,311 Views  Citations
Author(s)

ABSTRACT

This paper introduces a core concept in an economy with an excludable public good. In the economy, we assume that each coalition is allowed to achieve an allocation via a menu, a kind of a nonlinear price. Our core concept is called the menu-induced core that is defined as the set of allocations achievable by menus that are robust against all coalitional improvements achieved via menus. We show that the menu-induced core is nonempty. We also investigate certain properties of the menu-induced core that show the difference between the menu-induced core and the core defined in a standard way.

Share and Cite:

Hirai, T. (2014) The Menu-Induced Core of an Economy with an Excludable Public Good. Theoretical Economics Letters, 4, 289-295. doi: 10.4236/tel.2014.44039.

Copyright © 2024 by authors and Scientific Research Publishing Inc.

Creative Commons License

This work and the related PDF file are licensed under a Creative Commons Attribution 4.0 International License.