On the impossibility of a generalization of the libertarian resolution of the liberal paradox (Q910314)
From MaRDI portal
 | This is the item page for this Wikibase entity, intended for internal use and editing purposes. Please use this page instead for the normal view: On the impossibility of a generalization of the libertarian resolution of the liberal paradox |
scientific article; zbMATH DE number 4139431
| Language | Label | Description | Also known as |
|---|---|---|---|
| English | On the impossibility of a generalization of the libertarian resolution of the liberal paradox |
scientific article; zbMATH DE number 4139431 |
Statements
On the impossibility of a generalization of the libertarian resolution of the liberal paradox (English)
0 references
1990
0 references
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.
0 references
liberal paradox
0 references
non-binary rights systems
0 references
