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This paper introduces a solution for the fair division of common property resources in production economies with multiple inputs and outputs. It is derived from complementing the Walrasian solution by welfare bounds, whose ethical justi?cation rests on commonality of ownership. We then apply...
Persistent link: https://www.econbiz.de/10013428460
which is based on a large-scale computable general equilibrium model for the world economy indicates that spillover effects …
Persistent link: https://www.econbiz.de/10013428314