Supportability, Sustainability, and Subsidy-Free Prices
Volume: Volume 16, No. 1
Issue: Spring 1985
Pages: pp. 114-126
Authors: Leonard J. Mirman, Yair Tauman and Israel Zang
Title: Supportability, Sustainability, and Subsidy-Free Prices
Abstract: This article studies the relationships among the concepts of subsidy-free prices, anonymously equitable prices, supportability, and sustainability. In particular, we set out conditions under which these concepts are not vacuous. Several new sets of conditions under which a subsidy-free price vector is sustainable are also presented. For general, nonseparable demands, we establish the existence of an Aumann-Shapley price vector that is anonymously equitable and sustainable.
JEL Classification
Microeconomics Theory of Firm and Industry under Imperfectly Competitive Market Structures (0226)
Market Structure: Industrial Organization and Corporate Strategy (6110)