Publication: Double implementation the ratio correspondence by a market mechanism
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1996
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Springer
Abstract
To overcome deficits of the Lindahl solution concept when the economy does not exibit constant returns to scale, Kaneko(1977a) introduced the concept of ratio equilibrium. The ratio correspondence selects for each economy its set of ratio equilibrium allocations. In this paper we provide a simple market game that doble implements the ratio correspondence in Nash and strong equilibria
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Keywords
Ratio equilibrium, Public goods, Nash implementation
Bibliographic citation
Review Economic Design. 1996, vol 2, nº 1, p. 325-337