Cooperative Production and E¢ ciency
نویسندگان
چکیده
We characterize the sharing rule for which a contribution mechanism achieves e¢ ciency 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 e¢ cient allocations, the production function displays constant returns to scale, a case in which cooperation in production is useless. We thank Juan Enrique Martinez-Legaz, Hervé Moulin and Joaquim Silvestre for helpful comments. The rst author acknowledges nancial support from SEJ2005-01481/ECON and FEDER, 2005SGR00454, and the Barcelona Economics Program, CREA. The second author acknowledges nancial support from SEJ2005-06167/ECON.
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