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Walras-Lindahl-Wicksell : What equilibrium concept for public goods provision ? I - The convex case

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Author Info
Monique Florenzano () (Centre d'Economie de la Sorbonne)
Abstract

Despite the large number of its references, this paper is less a survey than a systematic exposition, in an unifying framework and 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 economic policy either on direct Pareto improving government interventions or on state enforcement of decentralized mechanisms.

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File URL: ftp://mse.univ-paris1.fr/pub/mse/CES2009/09009.pdf
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Publisher Info
Paper provided by Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne in its series Documents de travail du Centre d'Economie de la Sorbonne with number 09009.

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Length: 23 pages
Date of creation: Feb 2009
Date of revision:
Handle: RePEc:mse:cesdoc:09009

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Web page: http://ces.univ-paris1.fr/
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Related research
Keywords: Private provision equilibrium; Lindahl-Foley equilibrium; public competitive equilibrium; abstract economies; equilibrium existence; welfare theorems; core.;

Find related papers by JEL classification:
D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
D60 - Microeconomics - - Welfare Economics - - - General
H41 - Public Economics - - Publicly Provided Goods - - - Public Goods

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This page was last updated on 2009-11-23.


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