An Axiomatic Approach to Cost Allocation for Public Investment.
Abstract
The authors developed a cost allocation scheme for collective investments which had such properties as total costs being covered and insensitivity to ordering of simulataneous demands. In this paper one will derive the same scheme from a set of axioms. These axioms may be viewed as a constitution which participants in a collective investment agree to as being a fair way of allocating costs. The cost allocation principle is to be agreed to prior to agreement on the amount of investment; the amount of investment is then determined by collective bargaining. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Feb 01, 1971
- Accession Number
- AD0721295
Entities
People
- A. Whinston
- E. Loehman