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The ratio equilibrium and a voting game in a public goods economy
Authors:Mamoru Kaneko
Institution:Institute of Socio-Economic Planning, University of Tsukuba, Sakura-mura, Niihari-gun, Ibaraki-ken 300-31, Japan
Abstract:An economic model of the allocation process with public goods is presented. We define a concept of equilibrium and prove the existence. Next we present a voting game in which a level of the public goods to be produced is decided. We prove that the core of the voting game and the equilibria exist simultaneously, and that they coincide.
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