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Equilibrium And The Core In Alonso'S Discrete Population Model Of Land Use

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  • Marcus Berliant
  • Thijs ten Raa

Abstract

Conventional wisdom tells us that with no market failure and local nonsatiation of preferences, the core is at least as large as the collection of competitive equilibrium allocations. We confirm this for a standard model featuring private ownership of 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 allocation remains efficient, but no longer need be in the core. Copyright 2007 by the Economics Department Of The University Of Pennsylvania And Osaka University Institute Of Social And Economic Research Association.

Suggested Citation

  • Marcus Berliant & Thijs ten Raa, 2007. "Equilibrium And The Core In Alonso'S Discrete Population Model Of Land Use," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 48(1), pages 235-246, February.
    • Handle: RePEc:ier:iecrev:v:48:y:2007:i:1:p:235-246
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    Cited by:

    1. Marcus Berliant & Tomoya Mori, 2017. "Beyond urban form: How Masahisa Fujita shapes us," International Journal of Economic Theory, The International Society for Economic Theory, vol. 13(1), pages 5-28, March.
    2. Courtney LaFountain, 2008. "Core equivalence for residential land use models," International Journal of Economic Theory, The International Society for Economic Theory, vol. 4(4), pages 459-481, December.

    More about this item

    JEL classification:

    • H42 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Private Goods
    • R13 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General Equilibrium and Welfare Economic Analysis of Regional Economies
    • R52 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Regional Government Analysis - - - Land Use and Other Regulations
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis

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