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http://dspace.mediu.edu.my:8181/xmlui/handle/10261/1707| Title: | Cooperative Production and Efficiency |
| Keywords: | Cooperative production Sharing rules Efficiency |
| Description: | We characterize the sharing rule for which a contribution mechanism achieves efficiency in a cooperative production setting when agents are heterogeneous. The sharing rule bears no resemblance to those considered by the previous literature. We also show for a large class of sharing rules that if Nash equilibrium yields efficient allocations, the production function displays constant returns to scale, a case in which cooperation in production is useless. The first author acknowledges financial support from SEJ2005-01481/ECON and FEDER, 2005SGR-00454, and the Barcelona Economics Program, CREA. The second author acknowledges financial support from SEJ2005-06167/ECON. |
| URI: | http://dspace.mediu.edu.my:8181/xmlui/handle/10261/1707 |
| Other Identifiers: | http://hdl.handle.net/10261/1707 |
| Appears in Collections: | Digital Csic |
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