Edgeworth and Lindahl-Foley equilibria of a general equilibrium model with private provision of pure public goods
AbstractIn this paper, we propose a definition of Edgeworth equilibrium for a private ownership production economy with possibly infinitely many private goods and a finite number of pure public goods. We show that Edgeworth equilibria exist and can be decentralized as Lindahl-Foley equilibria, whatever be the dimension of the private goods space. Existence theorems for Lindahl-Foley equilibria are a by-product of our results.
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Bibliographic InfoPaper provided by Université Panthéon-Sorbonne (Paris 1) in its series Cahiers de la Maison des Sciences Economiques with number b04082.
Length: 21 pages
Date of creation: Jul 2004
Date of revision:
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Production economy; public goods; Edgeworth equilibrium; Lindhal equilibrium; proper economy.;
Other versions of this item:
- MONIQUE FLORENZANO & ELENA L. del MERCATO, 2006. "Edgeworth and Lindahl-Foley equilibria of a General Equilibrium Model with Private Provision of Pure Public Goods," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 8(5), pages 713-740, December.
- D46 - Microeconomics - - Market Structure and Pricing - - - Value Theory
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
- H21 - Public Economics - - Taxation, Subsidies, and Revenue - - - Efficiency; Optimal Taxation
- H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-12-12 (All new papers)
- NEP-MIC-2004-12-12 (Microeconomics)
- NEP-PBE-2004-12-12 (Public Economics)
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