Shared Consumption: A Technological Analysis
AbstractJames Buchanan (Economica, 1966) has argued that Alfred Marshall's theory of jointly-supplied goods can be extended to analyze the allocation of impure public goods. This article introduces a way of modelling sharing technologies for jointly-supplied goods that captures the essential features of Buchanan's proposal. Public and private goods are special cases of shared goods obtained by appropriately specifying the sharing technology. Necessary conditions for an allocation in a shared goods economy to be Pareto optimal are identified and related to the optimality conditions for public and private goods.
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Bibliographic InfoPaper provided by Vanderbilt University Department of Economics in its series Vanderbilt University Department of Economics Working Papers with number 0301.
Date of creation: Feb 2003
Date of revision: Jul 2003
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Web page: http://www.vanderbilt.edu/econ/wparchive/index.html
Impure public goods; shared goods; Pareto optimality;
Other versions of this item:
- H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
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- Oakland, William H., 1987. "Theory of public goods," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 2, chapter 9, pages 485-535 Elsevier.
- Holtermann, S E, 1972. "Externalities and Public Goods," Economica, London School of Economics and Political Science, vol. 39(153), pages 78-87, February.
- Sandmo, Agnar, 1973. "Public Goods and the Technology of Consumption," Review of Economic Studies, Wiley Blackwell, vol. 40(4), pages 517-28, October.
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