Walras-Lindahl-Wicksell: What equilibrium concept for public goods provision
AbstractDespite the large number of its references, this paper is less a survey than a systematic exposition, in an unifying framework ans assuming convexity as well on the consumption side as on the production side, of the different equilibrium concepts elaborated for studying provision of public goods. As weak as possible conditions for their existence and their optimality properties are proposed. The general conclusion is that the drawbacks of the different equilibrium concepts lead to founding public economy policy either on direct Pareto improving government interventions or on state enforcement of decentralized mechanisms.
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Date of creation: 26 Feb 2009
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private provision equilibrium; Lindahl-Foley equilibrium; public competitive equilibrium; abstract economies; equilibrium existence; welfare theorems; core;
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- Mas-Colell, Andreu & Silvestre, Joaquim, 1989. "Cost share equilibria: A Lindahlian approach," Journal of Economic Theory, Elsevier, vol. 47(2), pages 239-256, April.
- 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.
- Bonnisseau, Jean-Marc, 1991. "Existence of Lindahl equilibria in economies with nonconvex production sets," Journal of Economic Theory, Elsevier, vol. 54(2), pages 409-416, August.
- repec:van:wpaper:1201 is not listed on IDEAS
- Faias, Marta & Moreno, Emma & Wooders, Myrna, 2009.
"A Strategic market game approach for the private provision of public goods,"
37777, University Library of Munich, Germany, revised 08 Mar 2012.
- Marta Faias & Emma Moreno-garcÃa & Myrna Wooders, 2012. "A strategic market game approach for the private provision of public goods," Vanderbilt University Department of Economics Working Papers vuecon-12-00001, Vanderbilt University Department of Economics.
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