The Average Cost Share Equilibrium in an Economy with Information Goods Production
- 주제(키워드) Average Cost Share Equilibrium , Information Goods , Indivisible Goods , Increasing Returns to Scale , Heterogeneity , 평균비용균형 , 정보재 , 불가분성 , 규모수익체증
- 발행기관 고려대학교 대학원
- 지도교수 주병기
- 발행년도 2008
- 제출일 2008-07-08
- 학위수여년월 2008. 8
- 학위명 석사
- 학과 일반대학원 경제학과
- 세부전공 이론경제학전공
- 원문페이지 39 p
- 본문언어 영어
초록/요약
We first consider an economy with a single information good with one input, money. Since production exhibits increasing returns to scale, the average cost share equilibrium is used as an alternative equilibrium concept. It is shown that the fair allocation in this model coincides with the average cost share equilibrium. When multiple equilibria exist, the equilibrium with the most user agent is Pareto dominant to all others. However, the condition for efficiency and core stability implies that the Pareto dominant equilibrium does not necessarily satisfy core stability or efficiency. In our extended model of two types of information goods, we give the condition for the no-envy allocation to coincide with the average cost share equilibrium. We also show that the condition for both efficiency and core stability is very similar to that of the basic model.
more목차
1. Introduction 2
2. The Model and Basic Concepts 6
2.1 The Basic Model and Axioms 6
2.2 The Average Cost Share Equilibrium 9
3. Single Information Goods Development 11
4. Heterogeneous Information Goods Development 20
5. Conclusion 32
6. Reference 34
