An Axiomatic Approach to Cost Allocation for Public Investment

A previously presented charge scheme for public investments is derived here from a set of axioms. It is argued that these axioms embody a definition of equity in allocating the costs of a public facility and could serve as a constitution which would be agreed on by users of a public facility. Consideration is also given to optimality properties of the charge scheme in encouraging the formation of coalitions to undertake joint investments.

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Year of publication:	1974
Authors:	Loehman, E. ; Whinston, A.
Published in:	Public Finance Review. - Vol. 2.1974, 2, p. 236-250

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010686392