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On the Edgeworth conjecture for production economies with public goods: A contract-based approach

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Abstract

The paper applies and elaborates a contractual approach to study economies with a production of public goods. The barter contractual approach was developed in Marakulin (2003, 2011) for exchange economies; it is now modified and extended to the production economy. This includes hereby the introduction of a production contract and the adoption of known earlier notions: a web of contracts, coalitional domination for webs, a partial breaking of contracts, and so on. Thus specific notions of properly contractual and fuzzy contractual allocations for an economy with public goods are introduced and their equivalence with Lindahl equilibria is stated. These theorems can be interpreted as a new way of perfect competition presentation.

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  • Marakulin, V.M., 2013. "On the Edgeworth conjecture for production economies with public goods: A contract-based approach," Journal of Mathematical Economics, Elsevier, vol. 49(3), pages 189-200.
  • Handle: RePEc:eee:mateco:v:49:y:2013:i:3:p:189-200
    DOI: 10.1016/j.jmateco.2013.01.004
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    References listed on IDEAS

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    1. Hans Wiesmeth & Valery Vasil'ev & Shlomo Weber, 1995. "Core equivalence with congested public goods," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 6(3), pages 373-387.
    2. Roberts, Donald John, 1974. "A note on returns to group size and the core with public goods," Journal of Economic Theory, Elsevier, vol. 9(3), pages 350-356, November.
    3. Wolfgang Buchholz & Wolfgang Peters, 2007. "The Edgeworth Conjecture in a Public Goods Economy: An Elementary Example," Economics Bulletin, AccessEcon, vol. 8(6), pages 1-4.
    4. repec:ebl:ecbull:v:8:y:2007:i:6:p:1-4 is not listed on IDEAS
    5. MONIQUE FLORENZANO & ELENA L. del MERCATO, 2006. "Edgeworth and Lindahl-Foley equilibria of a General Equilibrium Model with Private Provision of Pure Public Goods," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 8(5), pages 713-740, December.
    6. Marakulin Valery, 2003. "Contracts and domination in incomplete markets," EERC Working Paper Series 02-04e, EERC Research Network, Russia and CIS.
    7. Milleron, Jean-Claude, 1972. "Theory of value with public goods: A survey article," Journal of Economic Theory, Elsevier, vol. 5(3), pages 419-477, December.
    8. Foley, Duncan K, 1970. "Lindahl's Solution and the Core of an Economy with Public Goods," Econometrica, Econometric Society, vol. 38(1), pages 66-72, January.
    9. Monique Florenzano, 2009. "Walras-Lindahl-Wicksell: What equilibrium concept for public goods provision," Working Papers halshs-00531434, HAL.
    10. Marakulin, V., 2011. "Contracts and Domination in Competitive Economies," Journal of the New Economic Association, New Economic Association, issue 9, pages 10-32.
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    Cited by:

    1. He, Wei & Yannelis, Nicholas C., 2015. "Equilibrium theory under ambiguity," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 86-95.
    2. Маракулин В.М., 2014. "О Договорном Подходе В Моделях Экономики Типа Эрроу-Дебре-Маккензи," Журнал Экономика и математические методы (ЭММ), Центральный Экономико-Математический Институт (ЦЭМИ), vol. 50(1), pages 61-79, январь.
    3. Valeriy M. Marakulin, 2017. "Contracts and domination in incomplete markets: what is a true core?," Economic Theory Bulletin, Springer;Society for the Advancement of Economic Theory (SAET), vol. 5(1), pages 81-108, April.

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