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Equilibrium and the Core in Alonso's Discrete Population Model of Land Use

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  • Marcus Berliant

    (Washington University in St. Louis)

  • Thijs ten Raa

    (Tilburg University)

Abstract

Conventional wisdom tells us that with no market failure and local non- satiation of preferences, the core is at least as large as the collection of competitive equilibrium allocations. We confirm this for a standard model featuring land. Next we consider the public land ownership version of the model. If the role of land ownership and rent distribution is assumed by a government that ploughs back rent (at least in excess of its agricultural value) to its citizens, the equilibrium remains efficient, but no longer need be in the core.

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File URL: http://128.118.178.162/eps/pe/papers/0411/0411010.pdf
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Bibliographic Info

Paper provided by EconWPA in its series Public Economics with number 0411010.

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Length: 14 pages
Date of creation: 22 Nov 2004
Date of revision: 23 Jun 2005
Handle: RePEc:wpa:wuwppe:0411010

Note: Type of Document - pdf; pages: 14
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Web page: http://128.118.178.162

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Keywords: Publicly Provided Private Goods; Equilibrium; Core;

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  1. Berliant, Marcus & Fujita, Masahisa, 1992. "Alonso's Discrete Population Model of Land Use: Efficient Allocations and Competitive Equilibria," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 33(3), pages 535-66, August.
  2. Berliant, Marcus & Papageorgiou, Yorgos Y. & Wang, Ping, 1990. "On welfare theory and urban economics," Regional Science and Urban Economics, Elsevier, vol. 20(2), pages 245-261, September.
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