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Edgeworth and Lindahl-Foley equilibria of a general equilibrium model with private provision of pure public goods

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Author Info
Monique Florenzano () (CERMSEM)
Elena Laureana Del Mercato () (Università degli Studi di Salerno)

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Abstract

In 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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Publisher Info
Paper provided by Université Panthéon-Sorbonne (Paris 1) in its series Cahiers de la Maison des Sciences Economiques with number b04082.

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Length: 21 pages
Date of creation: Jul 2004
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Handle: RePEc:mse:wpsorb:b04082

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Related research
Keywords: Production economy; public goods; Edgeworth equilibrium; Lindhal equilibrium; proper economy.;

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Find related papers by JEL classification:
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

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References listed on IDEAS
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.:
  1. Florenzano Monique, 1988. "Edgeworth equilibria, fuzzy core and equilibria of a production economy without ordered preferences," CEPREMAP Working Papers (Couverture Orange) 8822, CEPREMAP.
  2. Mas-Colell, Andreu & Silvestre, Joaquim, 1989. "Cost share equilibria: A Lindahlian approach," Journal of Economic Theory, Elsevier, vol. 47(2), pages 239-256, April. [Downloadable!] (restricted)
  3. Allouch, N. & Florenzano, M., 2000. "Edgeworth and Walras Equilibria of an Arbitrage-Free Exchange Economy," Papiers d'Economie Mathématique et Applications 2000.119, Université Panthéon-Sorbonne (Paris 1).
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  4. Vasil'ev, Valery & Weber, Shlomo & Wiesmeth, Hans, 1995. "Core Equivalence with Congested Public Goods," Economic Theory, Springer, vol. 6(3), pages 373-87, November.
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  5. Tourky, Rabee, 1998. "A New Approach to the Limit Theorem on the Core of an Economy in Vector Lattices," Journal of Economic Theory, Elsevier, vol. 78(2), pages 321-328, February. [Downloadable!] (restricted)
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  6. Weber, Shlomo & Wiesmeth, Hans, 1991. "The equivalence of core and cost share equilibria in an economy with a public good," Journal of Economic Theory, Elsevier, vol. 54(1), pages 180-197, June. [Downloadable!] (restricted)
  7. Antonio Villanacci & Unal Zenginobuz, 2001. "Private Provision of a Public Good in a General Equilibrium Model," Working Papers 2001/05, Bogazici University, Department of Economics. [Downloadable!]
  8. Mas-Colell, Andreu & Richard, Scott F., 1991. "A new approach to the existence of equilibria in vector lattices," Journal of Economic Theory, Elsevier, vol. 53(1), pages 1-11, February. [Downloadable!] (restricted)
  9. Conley John P., 1994. "Convergence Theorems on the Core of a Public Goods Economy: Sufficient Conditions," Journal of Economic Theory, Elsevier, vol. 62(1), pages 161-185, February. [Downloadable!] (restricted)
  10. Villanacci, Antonio & Zenginobuz, E.Unal, 2005. "Existence and regularity of equilibria in a general equilibrium model with private provision of a public good," Journal of Mathematical Economics, Elsevier, vol. 41(4-5), pages 617-636, August. [Downloadable!] (restricted)
  11. Herbert E. Scarf, 1965. "The Core of an N Person Game," Cowles Foundation Discussion Papers 182R, Cowles Foundation, Yale University. [Downloadable!]
  12. Monique Florenzano, 2008. "General equilibrium," Documents de travail du Centre d'Economie de la Sorbonne b08005, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne. [Downloadable!]
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  13. Milleron, Jean-Claude, 1972. "Theory of value with public goods: A survey article," Journal of Economic Theory, Elsevier, vol. 5(3), pages 419-477, December. [Downloadable!] (restricted)
  14. Aliprantis, Charalambos D. & Brown, Donald J. & Burkinshaw, Owen, 1987. "Edgeworth equilibria in production economies," Journal of Economic Theory, Elsevier, vol. 43(2), pages 252-291, December. [Downloadable!] (restricted)
  15. Dimitrios Diamantaras & Robert P. Gilles, 1994. "The Pure Theory of Public Goods: Efficiency, Decentralization, and the Core," Public Economics 9403001, EconWPA. [Downloadable!]
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  16. Mas-Colell, Andreu, 1980. "Efficiency and Decentralization in the Pure Theory of Public Goods," The Quarterly Journal of Economics, MIT Press, vol. 94(4), pages 625-41, June. [Downloadable!] (restricted)
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Cited by:
(explanations, 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.)

  1. Bejan, Camelia & Bidian, Florin, 2009. "Ownership Structure and Efficiency in Large Economies," MPRA Paper 17677, University Library of Munich, Germany. [Downloadable!]
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