Walras-Lindahl-Wicksell : What equilibrium concept for public goods provision ? I - The convex case
AbstractDespite 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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Bibliographic InfoPaper 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.
Length: 23 pages
Date of creation: Feb 2009
Date of revision:
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Private provision equilibrium; Lindahl-Foley equilibrium; public competitive equilibrium; abstract economies; equilibrium existence; welfare theorems; core.;
Other versions of this item:
- Monique Florenzano, 2009. "Walras-Lindahl-Wicksell: What equilibrium concept for public goods provision ? I - The convex case," UniversitÃ© Paris1 PanthÃ©on-Sorbonne (Post-Print and Working Papers) halshs-00367867, HAL.
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
- D60 - Microeconomics - - Welfare Economics - - - General
- H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-05-23 (All new papers)
- NEP-HPE-2009-05-23 (History & Philosophy of Economics)
- NEP-PBE-2009-05-23 (Public Economics)
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