Provision of a discrete public good with infinitely-many commodities
Suppose a group of individuals must decide whether to undertake a public project. The private commodity space, from which are also drawn the inputs for the public good, exhibits the Riesz decomposition property. We give a sufficient condition for the existence of a feasible provision of the public good that Pareto-dominates inaction. The condition is that the `net benefit' from the public project be positive. If this condition is met, by the Riesz decomposition property the cost of the project can be decomposed into a sum of individual contributions or taxes so that the project can be `financed' and every agent retains a positive surplus.
Volume (Year): 33 (2013)
Issue (Month): 1 ()
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- De Simone, Anna & Graziano, Maria Gabriella, 2004. "The pure theory of public goods: the case of many commodities," Journal of Mathematical Economics, Elsevier, vol. 40(7), pages 847-868, November.
- MONIQUE FLORENZANO & ELENA L. del MERCATO, 2006.
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- Monique Florenzano & Elena L. Del Mercato, 2006. "Edgeworth and Lindahl-Foley equilibria of a general equilibrium model with private provision of pure public goods," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00085726, HAL.
- Aliprantis, Charalambos D. & Brown, Donald J., 1983. "Equilibria in markets with a Riesz space of commodities," Journal of Mathematical Economics, Elsevier, vol. 11(2), pages 189-207, April.
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- Mas-Colell, Andreu, 1986. "The Price Equilibrium Existence Problem in Topological Vector Lattice s," Econometrica, Econometric Society, vol. 54(5), pages 1039-1053, September.
- Maria Gabriella Graziano, 2007. "Economies With Public Projects: Efficiency And Decentralization," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 48(3), pages 1037-1063, 08.
- Snyder, Susan K., 1999. "Testable restrictions of Pareto optimal public good provision," Journal of Public Economics, Elsevier, vol. 71(1), pages 97-119, January. Full references (including those not matched with items on IDEAS)
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