\input basic
\chcode'175←2
\chpar10←5000
%\def\}{\~}
\def\eqalignn#1{\lineskip 6pt \eqalign{#1}}
\font e=cmr6 \font k=cmi6 \font o=cms7 \font r=cmb7 \font y=cmsy6
\def\pprime{{\prime\prime}}
\def\Nsum{\sum↓{i=1}↑N}
\def\Twosum{\sum↓{i=1}↑2}
\def\msum{\sum↓{i=1}↑m}
\def\qed{\par \rjustline{\it q.\ e.\ d.} \yyskip \yyskip}
\def\forall{\mathopen{\char'470}}
\def\texist{\mathopen{\char'471}}
\def\le{\mathrel{\char'424}}
\def\ge{\mathrel{\char'425}}
\def\trequal{\hbox{\char'36}}
\def\implies{\mathrel{\char'451}} 
\def\reals{\char'474}
\def\yskip{\penalty-50\vskip 2pt plus 1pt minus 1pt}
\def\yyskip{\penalty-100\vskip 3pt plus 3pt minus 2pt}
\def\th{\hbox{\:d th}}
\def\ith{$i↑{\th}$ }
\def\I{\hbox{\:d I}}
\def\dbyd#1#2{{{\partial #1} \over {\partial #2}}}
\def\neq{\mathrel{\not =}}
\def\Minit{\mathop{\char'115\char'151\char'156}}
\def\Maxit{\mathop{\char'115\char'141\char'170}}
\def\Df#1{\par\yyskip\noindent{\bf DEFINITION #1:}\quad}
\def\thrm#1{\par \yyskip \noindent {\bf THEOREM #1:}\quad}
\def\prf{\par \yyskip \noindent {\bf PROOF:}\quad}
\def\lem#1{\par \yyskip \noindent {\bf LEMMA #1:}\quad}
\def\sevenpoint{\baselineskip 7pt\dispskip 7pt plus 2.5pt minus 5.5pt
 \dispaskip 1pt plus 2.1pt \dispbskip 3.5pt plus 2.1pt minus 1.8pt
 \def\rm{\:d} \def\sl{\:o} \def\bf{\:r} \def\it{\:j}
 \mathrm def \mathit jkl \mathsy xyz \rm}
\def\ftdisp#1{\lbreak\vbox{\hbox{}\vskip 3.5pt\hbox to size{\hss $\dispstyle
                     #1$ \hss}\vskip 3.5pt\hbox{}}}
\def\footnote#1{{\sevenpoint$\null↑{\count2}$\botinsert{
        \if 1\ftnum{\vskip2pt \hrule width 10pc \vskip3pt}
        \else{\vskip1pt}
        \hbox par size{\hbox to 20pt{} $\null↑{\count2}$#1}
                                          \gdef\ftnum{2}\advcount2}}}
\def\cor#1{\par \yyskip \noindent {\bf COROLLARY #1:}}
\def\po{Pareto-optimal}
\def\ps{Pareto-syndicate}
\def\rsa{risk-sharing arrangement}
\def\sr{sharing rule}
\def\ie{{\it i.\ e.}}
\def\eg{{\it e.\ g.}}
\def\wrt{\hbox{w.\ r.\ t.}} 
\def\Uz{U↓i(z↓i(\omega (s,a),s))}
\def\Upz{\lambda↓i U↓i↑\prime(z↓i(\omega (s,a),s))f↓i(s)}
\def\Uzx{U↓i(z↓i(x,s))}
\def\Upzx{\lambda↓i U↓i↑\prime (z↓i(x,s))f↓i(s)}
\def\argmax{\mathop{\char'141\char'162\char'147\char'155\char'141\char'170}}
\def\pthm#1#2{\par\yskip\noindent\hangindent 3.57cm\hbox to 3.5cm{\hss #1. }#2\par}
\def\equiv{\mathrel{\char'454}}
\def\cdt{\, \cdot \,}
\def\hfull{\hskip0pt plus 1000cm minus 1000cm}
\def\lbreak{\hskip 1000cm minus 1000000cm \linebreak}
\def\top#1{\hbox{#1}\vfill}
\setcount0 0 
\setcount1 1
\setcount2 1
\def\ftnum{1}
\def\tpage{T}
\output{\vbox to 22.86cm{\baselineskip0pt\lineskip0pt
	      \if T\tpage{\vskip 1.96cm\gdef\fstpage{T}}
          \else{\if F\fstpage{\vskip .96cm \hbox to 16.61cm{\hfill
            \ifeven1{\hbox to 14.56cm{\hfill {\sl THEORY OF SYNDICATES}
                                             \hfill \count0} \gdef\tpage{F}}
            \else{\hbox to 14.56cm{\count0 \hfill {\sl A. H. Amershi &
                                          J. H. Stoeckenius} \hfill}} \hfill}
         \vskip 1.00cm}\else{\vskip 1.46cm}}
        \hbox to 16.61cm{\hfill \page \hfill}
        \if F\tpage{\if T\fstpage{\vskip .8cm \hbox to 16.61cm
                                  {\hfill 1 \hfill} \gdef\fstpage{F}}
         \else{}} \else{\gdef\tpage{F}}\vfill}
                       \gdef\ftnum{1} \advcount1 \advcount0}
\hsize 14.56cm
\vsize 20.25 cm