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We introduce von Neumann-Morgenstern solution concepts in market models involving the choice of a public project. We show that vN-M stable sets, suitably defined in connection to public goods provision, are consistent with results from bargaining via cartels. We find as necessary the assumption...
Persistent link: https://www.econbiz.de/10008727949
We consider pure exchange economies with finitely many private goods involving the choice of a public project. We discuss core-equivalence results in the general framework of non-Euclidean representation of the collective goods. We define a contribution scheme to capture the fraction of the...
Persistent link: https://www.econbiz.de/10008541583