A note on Thomson's characterizations of the uniform rule
Article Abstract:
The uniform rule without continuity is still unique even in an environment with a finite number of potential players. A model that considers single value and envy-freeness indicates that bilateral consistency can only represent allocations of different economies. This is in contrast with a previous study by Thomson which indicate that continuity, as well as bilateral consistency, can be satisfied by the uniform rule. The approach used cannot be applied to multi-valued settings with infinite number of potential agents.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1996
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Efficiency and equality in a simple model of efficient unemployment insurance
Article Abstract:
Full insurance is hindered in a labor market characterized by employment risks and moral hazard problems. However, such a market can be improved through an efficient allocation of consumption and laborer distribution. The establishment of a lower bound on expected discounted utility generates an efficient unemployment insurance program where individual entitlements to utility are evenly distributed.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1995
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The proportional solution for economies with both private and public ownership
Article Abstract:
A proportional solution for economies which assume both private and public ownership properties is presented and analyzed. The analysis focuses on the development of a proposal called the Proposed Solution which assumes Pareto optimal conditions for final allocation and equal returns for privately owned inputs. It is shown that proportional solutions in general convex economies can be developed.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1993
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