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Subscription equilibria with public production: Existence and regularity

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  • Villanacci, Antonio
  • Zenginobuz, E. Unal

Abstract

We revisit the analysis of subscription equilibria in a full fledged general equilibrium model with public goods. We study the case of a nonprofit, or public, firm that produces the public good using private goods as inputs, which are to be financed by voluntary contributions (subscriptions) of households. We prove existence and generic regularity of subscription equilibria.
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Suggested Citation

  • Villanacci, Antonio & Zenginobuz, E. Unal, 2006. "Subscription equilibria with public production: Existence and regularity," Research in Economics, Elsevier, vol. 60(4), pages 199-215, December.
  • Handle: RePEc:eee:reecon:v:60:y:2006:i:4:p:199-215
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    References listed on IDEAS

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    1. Unal Zenginobuz & Antonio Villanacci, 2009. "Subscription Equilibrium with Production: Neutrality and Constrained Suboptimality of Equilibria," Working Papers 2009/03, Bogazici University, Department of Economics.
    2. Cornes, Richard & Hartley, Roger & Sandler, Todd, 1999. " Equilibrium Existence and Uniqueness in Public Good Models: An Elementary Proof via Contraction," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 1(4), pages 499-509.
    3. Shafer, Wayne & Sonnenschein, Hugo, 1975. "Some theorems on the existence of competitive equilibrium," Journal of Economic Theory, Elsevier, vol. 11(1), pages 83-93, August.
    4. Antonio Villanacci & Ünal Zenginobuz, 2007. "On the Neutrality of Redistribution in a General Equilibrium Model with Public Goods," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 9(2), pages 183-200, April.
    5. Villanacci, Antonio & Zenginobuz, E.Unal, 2005. "Existence and regularity of equilibria in a general equilibrium model with private provision of a public good," Journal of Mathematical Economics, Elsevier, vol. 41(4-5), pages 617-636, August.
    6. Bergstrom, Theodore & Blume, Lawrence & Varian, Hal, 1986. "On the private provision of public goods," Journal of Public Economics, Elsevier, vol. 29(1), pages 25-49, February.
    7. Cornes, Richard & Sandler, Todd, 1985. "The Simple Analytics of Pure Public Good Provision," Economica, London School of Economics and Political Science, vol. 52(205), pages 103-116, February.
    8. Myles,Gareth D., 1995. "Public Economics," Cambridge Books, Cambridge University Press, number 9780521497695, April.
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    Cited by:

    1. Villanacci, Antonio & Zenginobuz, E.Unal, 2005. "Existence and regularity of equilibria in a general equilibrium model with private provision of a public good," Journal of Mathematical Economics, Elsevier, vol. 41(4-5), pages 617-636, August.
    2. Antonio Villanacci & Ünal Zenginobuz, 2007. "On the Neutrality of Redistribution in a General Equilibrium Model with Public Goods," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 9(2), pages 183-200, April.
    3. Antonio Villanacci & Ünal Zenginobuz, 2006. "Pareto improving interventions in a general equilibrium model with private provision of public goods," Review of Economic Design, Springer;Society for Economic Design, vol. 10(3), pages 249-271, December.
    4. Unal Zenginobuz & Antonio Villanacci, 2009. "Subscription Equilibrium with Production: Neutrality and Constrained Suboptimality of Equilibria," Working Papers 2009/03, Bogazici University, Department of Economics.
    5. Villanacci, Antonio & Zenginobuz, Ünal, 2012. "Subscription equilibrium with production: Non-neutrality and constrained suboptimality," Journal of Economic Theory, Elsevier, vol. 147(2), pages 407-425.
    6. Kung, Fan-chin, 2008. "Voluntary contributions to multiple public goods in a production economy with widespread externalities," Journal of Mathematical Economics, Elsevier, vol. 44(12), pages 1364-1378, December.

    More about this item

    JEL classification:

    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods

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