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Optimality And Equilibrium In A Single-Product Economic Model With Collective Good (Computer Experiments)

  • Yuriy N. Gavrilets
  • Irina V. Tarakanova
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    This paper considers some of the simplest models of the economy with the collective good. Used computer simulations illustrate the relationship between equilibrium and the optimum. We propose a heuristic method for finding the economic equilibrium with the collective goods, which is a variant of the tatonnement process.

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    Article provided by Economic Laboratory for Transition Research (ELIT) in its journal Montenegrin Journal of Economics.

    Volume (Year): 9 (2013)
    Issue (Month): 4 ()
    Pages: 7-20

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    Handle: RePEc:mje:mjejnl:v:9:y:2013:i:4:p:7-20
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    1. Dreze, Jacques H & de la Vallee Poussin, D, 1971. "A Tatonnement Process for Public Goods," Review of Economic Studies, Wiley Blackwell, vol. 38(114), pages 133-50, April.
    2. 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.
    3. Nitzan, Shmuel & Romano, Richard E., 1990. "Private provision of a discrete public good with uncertain cost," Journal of Public Economics, Elsevier, vol. 42(3), pages 357-370, August.
    4. Pirttila, Jukka & Tuomala, Matti, 2002. " Publicly Provided Private Goods and Redistribution: A General Equilibrium Analysis," Scandinavian Journal of Economics, Wiley Blackwell, vol. 104(1), pages 173-88.
    5. Pierre Michel & Claude Fourgeaud & Bernard Lenclud, 1983. "Taux d'actualisation et prix de l'énergie," Revue Économique, Programme National Persée, vol. 34(2), pages 253-276.
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