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A Core-equilibrium Convergence in an Economy with Public Goods

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Author Info
Nizar Allouch () (Queen Mary, University of London)

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Abstract

This paper deals with a core-equilibrium equivalence in an economy with public goods where preferences of consumers display warm glow effects. We demonstrate that provided that each consumer becomes satiated to other consumers provision, it holds that, for a sufficiently large economy, the set of Edgeworth allocations is non-empty. Moreover, we show that an Edgeworth allocation could be decentralized as a warm glow equilibrium.

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Publisher Info
Paper provided by Queen Mary, University of London, Department of Economics in its series Working Papers with number 642.

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Date of creation: Apr 2009
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Handle: RePEc:qmw:qmwecw:wp642

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Related research
Keywords: Competitive equilibrium; Warm glow; Public goods; Edgeworth; Core; Decentralization;

Find related papers by JEL classification:
H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
D64 - Microeconomics - - Welfare Economics - - - Altruism

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This page was last updated on 2009-11-7.

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