Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica: Jul, 1982, Volume 50, Issue 4

The Determination of Marginal Cost Prices under a Set of Axioms<895:TDOMCP>2.0.CO;2-3
p. 895-910

Dov Samet, Yair Tauman

This paper presents a set of axioms which characterize a family of price mechanisms for consumption goods, including marginal cost prices and Aumann-Shapley prices. By strengthening one of the axioms, marginal cost prices are characterized and by requiring that cost is shared the Aumann-Shapley prices are characterized. A discussion of the economic interpretation of the axioms is also provided.

Log In To View Full Content