dc.contributor.author | Balbuzanov, Ivan | |
dc.contributor.author | Kotowski, Maciej | |
dc.date.accessioned | 2019-11-13T09:52:33Z | |
dc.date.issued | 2019-09 | |
dc.identifier.citation | Balbuzanov, Ivan, and Maciej H. Kotowski. "Endowments, Exclusion, and Exchange." Econometrica 87, no. 5 (2019): 1663-692. | en_US |
dc.identifier.issn | 1556-5068 | en_US |
dc.identifier.issn | 0012-9682 | en_US |
dc.identifier.uri | http://nrs.harvard.edu/urn-3:HUL.InstRepos:41808543 | * |
dc.description.abstract | We propose a new solution for discrete exchange economies and resource-allocation problems, the exclusion core. The exclusion core rests upon a foundational idea in the legal understanding of property, the right to exclude others. By reinterpreting endowments as a distribution of exclusion rights, rather than as bundles of goods, our analysis extends to economies with qualified property rights, joint ownership, and social hierarchies. The exclusion core is characterized by a generalized top trading cycle algorithm in a large class of economies, including those featuring private, public, and mixed ownership. It is neither weaker nor stronger than the strong core. | en_US |
dc.language.iso | en_US | en_US |
dc.publisher | Elsevier BV | en_US |
dc.relation.isversionof | https://doi.org/10.3982/ECTA15676 | en_US |
dash.license | OAP | |
dc.title | Endowments, Exclusion, and Exchange | en_US |
dc.type | Journal Article | en_US |
dc.description.version | Accepted Manuscript | en_US |
dc.relation.journal | Econometrica | en_US |
dash.depositing.author | Kotowski, Maciej | |
dc.date.available | 2019-11-13T09:52:33Z | |
dash.affiliation.other | Harvard Kennedy School | en_US |
dc.identifier.doi | 10.2139/ssrn.2943015 | |
dc.source.journal | SSRN Journal | |
dash.contributor.affiliated | Kotowski, Maciej | |