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ralph lauren polo

Anne Van den nouweland and Myrna Wooders
''Existence of Share Equilibrium in Symmetric Local Public Good Economies∗''
Share equilibrium was introduced in van den Nouweland and Wooders (2011) as an extension of ratio equilibrium to local public good economies. In that paper, we took an axiomatic approach to motivate share equilibrium. In the current paper we consider questions related to the existence of share equilibrium and we derive a necessary and sufficient condition for the existence of share equilibrium in symmetric economies. Along the way, we develop a deeper understanding of the possible variation in share equilibrium by considering when symmetric players necessarily have the same share indices in equilibrium.
Keywords: Share equilibrium, Local public goods, Cost shares, Core, Top convexity
JEL: H4 - Publicly Provided Goods: General
C7 - Game Theory and Bargaining Theory: General
Manuscript Received : Mar 12 2016 Manuscript Accepted : Mar 13 2016

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