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Provision of a discrete public good with infinitely-many commodities

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  • Francesco Ruscitti

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    (John Cabot University, Department of Political and Social Sciences)

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    Abstract

    Suppose a group of individuals must decide whether to undertake a public project. The private commodity space, from which are also drawn the inputs for the public good, exhibits the Riesz decomposition property. We give a sufficient condition for the existence of a feasible provision of the public good that Pareto-dominates inaction. The condition is that the `net benefit' from the public project be positive. If this condition is met, by the Riesz decomposition property the cost of the project can be decomposed into a sum of individual contributions or taxes so that the project can be `financed' and every agent retains a positive surplus.

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    File URL: http://www.accessecon.com/Pubs/EB/2013/Volume33/EB-13-V33-I1-P3.pdf
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    Bibliographic Info

    Article provided by AccessEcon in its journal Economics Bulletin.

    Volume (Year): 33 (2013)
    Issue (Month): 1 ()
    Pages: 28-34

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    Handle: RePEc:ebl:ecbull:eb-12-00624

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    Related research

    Keywords: Public goods; efficient provision; reservation price; ordered vector spaces; Riesz decomposition property.;

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    1. Snyder, Susan K., 1999. "Testable restrictions of Pareto optimal public good provision," Journal of Public Economics, Elsevier, vol. 71(1), pages 97-119, January.
    2. Monique Florenzano & Elena Laureana Del Mercato, 2004. "Edgeworth and Lindahl-Foley equilibria of a general equilibrium model with private provision of pure public goods," Cahiers de la Maison des Sciences Economiques b04082, Université Panthéon-Sorbonne (Paris 1).
    3. Aliprantis, Charalambos D. & Brown, Donald J., 1983. "Equilibria in markets with a Riesz space of commodities," Journal of Mathematical Economics, Elsevier, vol. 11(2), pages 189-207, April.
    4. De Simone, Anna & Graziano, Maria Gabriella, 2004. "The pure theory of public goods: the case of many commodities," Journal of Mathematical Economics, Elsevier, vol. 40(7), pages 847-868, November.
    5. Mas-Colell, Andreu, 1986. "The Price Equilibrium Existence Problem in Topological Vector Lattice s," Econometrica, Econometric Society, vol. 54(5), pages 1039-53, September.
    6. Maria Gabriella Graziano, 2007. "Economies With Public Projects: Efficiency And Decentralization," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 48(3), pages 1037-1063, 08.
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