Ekern, Steinar; Wilson, Robert - In: Bell Journal of Economics 5 (1974) 1, pp. 171-180
This article establishes conditions sufficient to ensure that a decision of a firm is judged to be desirable by any one shareholder (e.g., the firm's manager) if and only if every shareholder judges it to be desirable. One such condition is that the decision would not alter the set of...