Ex post stockholder unanimity. A Complete and Simplified Treatment

James Arvid Ohlson

doi:10.1016/0378-4266(85)90040-8

Ex post stockholder unanimity. A Complete and Simplified Treatment

James Arvid Ohlson

Research output: Journal article publication › Journal article › Academic research › peer-review

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Abstract

This paper generalizes the Ekern-Wilson (1974) analysis of ex post, non-competitive markets, stockholder unanimity. Most of the sufficient conditions are relaxed, and necessary conditions are provided as well. The precise roles of 'spanning' and 'small production change' are identified. Neither condition is necessary even though no particular restrictions are imposed on individuals preferences/beliefs. The cases of negative and positive unanimity are shown to be asymmetric. The analysis relies solely on elementary methods of revealed preference.

Original language	English
Pages (from-to)	387-399
Number of pages	13
Journal	Journal of Banking and Finance
Volume	9
Issue number	3
DOIs	https://doi.org/10.1016/0378-4266(85)90040-8
Publication status	Published - 1 Jan 1985
Externally published	Yes

ASJC Scopus subject areas

Economics and Econometrics
Finance

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10.1016/0378-4266(85)90040-8

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Ex post stockholder unanimity. A Complete and Simplified Treatment

Abstract

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