Abstract.
Mirman and Tauman (1982) show that axioms of cost sharing, additivity, rescaling invariance, monotonicity, and consistency uniquely determine a price rule on the class of continuously differentiable cost problems as the Aumann-Shapley price mechanism. Here we prove that standard versions of these axioms determine uniquely the marginal cost price rule on the class of homogeneous and convex cost functions, which are, in addition, continuously differentiable. This result persists even if the cost functons are not required to be convex.
This is a preview of subscription content, log in via an institution to check access.
Similar content being viewed by others
Author information
Authors and Affiliations
Additional information
Received: August 2001
Rights and permissions
About this article
Cite this article
Haimanko, O. Marginal cost price rule for homogeneous cost functions. Game Theory 31, 19–28 (2002). https://doi.org/10.1007/s001820200104
Issue Date:
DOI: https://doi.org/10.1007/s001820200104