Status Equilibrium for Local Public Good Economies
نویسندگان
چکیده
We define a concept of status equilibrium for local public good economies. A status equilibrium specifies one status index for each agent in an economy. These indices determine agents’ cost shares in any possible jurisdiction. We provide an axiomatic characterization of status equilibrium using consistency properties. ∗We thank James Foster, John Conley, Rick Bond, and participants of PET05 for helpful comments and suggestions. MyrnaWooders gratefully acknowledges the hospitality of the Department of Economics of the Univeristy of Oregon and Anne van den Nouweland gratefully acknowledges the hospitality of the Department of Economics of the University of Melbourne and the Department of Economics of Vanderbilt University. †Department of Economics, University of Oregon, Eugene, OR 97403-1285, USA. Email: [email protected]. ‡Department of Economics, Vanderbilt University, Nashville, TN 37235, USA, and Department of Economics, University of Warwick, Coventry, CV4 7AL, UK. E-mail: [email protected].
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