On the impossibility of a generalization of the libertarian resolution of the liberal paradox (Q910314)
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scientific article; zbMATH DE number 4139431
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| English | On the impossibility of a generalization of the libertarian resolution of the liberal paradox |
scientific article; zbMATH DE number 4139431 |
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On the impossibility of a generalization of the libertarian resolution of the liberal paradox (English)
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1990
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This paper studies the possibility of extending the result due to \textit{A. Harel} and \textit{S. Nitzan} [J. Economics 47, 337-352 (1987; Zbl 0642.90004)] to non-binary rights systems. The main result of the paper is that only under very restrictive conditions does the Harel-Nitzan mechanism of exchangeable rights continue to function optimally when the rights system is non-binary. Indeed, as few as three nonexchangeable social states suffice to prevent such a system from working.
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liberal paradox
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non-binary rights systems
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0.8569017052650452
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0.8109971284866333
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0.8093694448471069
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0.789607048034668
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0.7896067500114441
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