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A Unique Informationally Efficient Allocation Mechanism In Economies With Consumption Externalities

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Author Info
Guoqiang Tian

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Abstract

This article investigates the informational requirements of resource allocation processes in pure exchange economies with consumption externalities. It is shown that the distributive Lindahl mechanism has a minimal informational size of the message space, and thus it is informationally the most efficient allocation process that is informationally decentralized and realizes Pareto-efficient allocations over the class of economies that include nonmalevolent economies. Furthermore, it is shown that the distributive Lindahl mechanism is the unique informationally efficient decentralized mechanism that realizes Pareto-efficient and individually rational allocations over a certain class of nonmalevolent economies. Copyright 2004 by the Economics Department Of The University Of Pennsylvania And Osaka University Institute Of Social And Economic Research Association.

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Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.

Volume (Year): 45 (2004)
Issue (Month): 1 (02)
Pages: 79-111
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Handle: RePEc:ier:iecrev:v:45:y:2004:i:1:p:79-111

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  1. Ilya Segal, 2004. "The Communication Requirements of of Social Choice Rules and Supporting Budget Sets," Economics Working Papers 0039, Institute for Advanced Study, School of Social Science. [Downloadable!]
  2. E Randon & P Simmons, . "Correcting Market Failure Due to Interdependent Preferences: When Is Piecemeal Policy Possible?," Discussion Papers 05/12, Department of Economics, University of York. [Downloadable!]
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  3. Guoqiang Tian & Liyan Yang, 2009. "Theory of negative consumption externalities with applications to the economics of happiness," Economic Theory, Springer, vol. 39(3), pages 399-424, June. [Downloadable!] (restricted)
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This page was last updated on 2009-11-21.

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