The Second Best Core, International Economic Review

Abstract

An economy with a single output and input is considered for the case of economies of scale in production. Equilibria are studied for a cooperative game of joint production in which goods are allocated by a price system. The paper proposes a second best core in which allocations that are feasible for a coalition must be attainable by a price system. Existence is examined and properties of second best core allocations are analysed.

Type

Article

Author(s)

Daniel Spulber

Date Published

1989

Citations

Spulber, Daniel. 1989. The Second Best Core. International Economic Review. 30(3): 623-631.

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