Equilibrium And The Core In Alonso'S Discrete Population Model Of Land Use
AbstractConventional wisdom tells us that with no market failure and local nonsatiation of preferences, the core is at least as large as the collection of competitive equilibrium allocations. We confirm this for a standard model featuring private ownership of land. Next we consider the public land ownership version of the model. If the role of land ownership and rent distribution is assumed by a government that ploughs back rent (at least in excess of its agricultural value) to its citizens, the equilibrium allocation remains efficient, but no longer need be in the core. Copyright 2007 by the Economics Department Of The University Of Pennsylvania And Osaka University Institute Of Social And Economic Research Association.
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Bibliographic InfoArticle 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): 48 (2007)
Issue (Month): 1 (02)
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Other versions of this item:
- Berliant, M. & Raa, T. ten, 2004. "Equilibrium and the Core in Alonso's Discrete Population Model of Land Use," Discussion Paper 2004-118, Tilburg University, Center for Economic Research.
- Marcus Berliant & Thijs ten Raa, 2004. "Equilibrium and the Core in Alonso's Discrete Population Model of Land Use," Public Economics 0411010, EconWPA, revised 23 Jun 2005.
- H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods
- R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies
- R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
- D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
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.:
- Berliant, Marcus & Papageorgiou, Yorgos Y. & Wang, Ping, 1990. "On welfare theory and urban economics," Regional Science and Urban Economics, Elsevier, vol. 20(2), pages 245-261, September.
- Berliant, M. & Fujita, M., 1990.
"Alonso'S Discrete Population Model Of Land Use: Efficient Allocations And Competitive Equilibria,"
RCER Working Papers
217, University of Rochester - Center for Economic Research (RCER).
- Berliant, Marcus & Fujita, Masahisa, 1992. "Alonso's Discrete Population Model of Land Use: Efficient Allocations and Competitive Equilibria," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 33(3), pages 535-66, August.
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