The Edgeworth Conjecture in a Public Goods Economy: An Elementary Example
AbstractWe show by a simple example that in a public goods economy consisting of identical individuals with symmetric Cobb-Douglas preferences the core of the economy does not con-verge to the Lindahl solution when the number of agents goes to infinity. This confirms in an elementary way that the Edgeworth conjecture does not necessarily hold in an economy with a public good.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 8 (2007)
Issue (Month): 6 ()
Contact details of provider:
Find related papers by JEL classification:
- H4 - Public Economics - - Publicly Provided Goods
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Moulin, Herve, 1987. "Egalitarian-Equivalent Cost Sharing of a Public Good," Econometrica, Econometric Society, vol. 55(4), pages 963-76, July.
- Valery Vasil'ev & Shlomo Weber & Hans Wiesmeth, 1991.
"The Equivalence of Core and Lindahl Equilibria in an Economy with Semi-Public Goods,"
Discussion Paper Serie B
200, University of Bonn, Germany.
- Vasilev, V. & Weber, S. & Wiesmeth, H., 1991. "The Equivalence of Core and Lindahl Equilibria in an Economy with Semi- Public Goods," Papers 91-13, York (Canada) - Department of Economics.
- D. K. Foley, 1967.
"Lindahl's Solution and the Core of an Economy with Public Goods,"
3, Massachusetts Institute of Technology (MIT), Department of Economics.
- Foley, Duncan K, 1970. "Lindahl's Solution and the Core of an Economy with Public Goods," Econometrica, Econometric Society, vol. 38(1), pages 66-72, January.
- Milleron, Jean-Claude, 1972. "Theory of value with public goods: A survey article," Journal of Economic Theory, Elsevier, vol. 5(3), pages 419-477, December.
- Ellickson, Bryan, 1978. "Public goods and joint supply," Journal of Public Economics, Elsevier, vol. 9(3), pages 373-382, June.
- Weber, Shlomo & Wiesmeth, Hans, 1991. "The equivalence of core and cost share equilibria in an economy with a public good," Journal of Economic Theory, Elsevier, vol. 54(1), pages 180-197, June.
- Conley John P., 1994. "Convergence Theorems on the Core of a Public Goods Economy: Sufficient Conditions," Journal of Economic Theory, Elsevier, vol. 62(1), pages 161-185, February.
- Marakulin, V.M., 2013. "On the Edgeworth conjecture for production economies with public goods: A contract-based approach," Journal of Mathematical Economics, Elsevier, vol. 49(3), pages 189-200.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (John P. Conley).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.