Edgeworth and Lindahl-Foley equilibria of a General Equilibrium Model with Private Provision of Pure Public Goods
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 whatever be the dimension of the private goods space and can be decentralized, in the finite and infinite dimensional cases, as Lindahl-Foley equilibria. Existence theorems for Lindahl-Foley equilibria are a by-product of our results. Copyright 2006 Blackwell Publishing, Inc..
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Volume (Year): 8 (2006)
Issue (Month): 5 (December)
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