Core Size, Pricing, and Cost Structure

Author

William K. Edwards, Old Dominion University

Date of Award

Spring 5-1979

Document Type

Thesis

Degree Name

Master of Arts (MA)

Department

Economics

Committee Director

Wayne K. Talley

Committee Member

Gary French

Committee Member

Ann Schwarz-Miller

Call Number for Print

Special Collections LD4331.E26E3

Abstract

This thesis presents a proof of an inverse limit theorem of the core of an economy. The implication of the theorem is that a larger core can be obtained by the formation of coalitions. A large core contains multiple Pareto optimal allocations from which society may select in order to maximize its welfare. Furthermore, this paper places an emphasis on pricing schemes that guarantee a core allocation under increasing returns to scale. Two pricing models are introduced that guarantee a non-empty core under increasing returns to scale.

Rights

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DOI

10.25776/qs9y-f859

Recommended Citation

Edwards, William K.. "Core Size, Pricing, and Cost Structure" (1979). Master of Arts (MA), Thesis, Economics, Old Dominion University, DOI: 10.25776/qs9y-f859
https://digitalcommons.odu.edu/economics_etds/15