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On the Set of Pareto Efficient Allocations in Economies with Public Goods

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  • Diamantaras, Dimitrios
  • Wilkie, Simon

Abstract

We examine the set of Pareto-efficient allocations in economies with public goods. We show that even if preferences are continuous and strongly monotonic, it need not coincide with the set of weakly efficient allocations. We then study topological properties of the Pareto set. We show that it is neither connected nor closed in allocation space. Furthermore, if the public goods are local, the image of the Pareto set in utility space need not be closed or connected. We provide two independent sufficient conditions for the closedness of the Pareto set. The results are directly applicable to private goods economies with joint production. Our results should be of interest for general equilibrium and mechanism design theory; where for example, the properties of the efficient set are important for proving the existence of an equilibrium and for the study of the properties of monotone-path social choice correspondences.

Suggested Citation

  • Diamantaras, Dimitrios & Wilkie, Simon, 1996. "On the Set of Pareto Efficient Allocations in Economies with Public Goods," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 7(2), pages 371-379, February.
    • Handle: RePEc:spr:joecth:v:7:y:1996:i:2:p:371-79
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    Cited by:

    1. Yoshihara, Naoki, 2003. "Characterizations of bargaining solutions in production economies with unequal skills," Journal of Economic Theory, Elsevier, vol. 108(2), pages 256-285, February.
    2. Crettez, Bertrand & Nessah, Rabia & Tazdaït, Tarik, 2022. "On the strong hybrid solution of an n-person game," Mathematical Social Sciences, Elsevier, vol. 117(C), pages 61-68.
    3. Thomson, William, 2011. "Chapter Twenty-One - Fair Allocation Rules," Handbook of Social Choice and Welfare, in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 2, chapter 21, pages 393-506, Elsevier.
    4. Bade, Sophie & Segal-Halevi, Erel, 2023. "Fairness for multi-self agents," Games and Economic Behavior, Elsevier, vol. 141(C), pages 321-336.
    5. Erel Segal-Halevi & Shmuel Nitzan, 2019. "Fair cake-cutting among families," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 53(4), pages 709-740, December.
    6. Sophie Bade & Erel Segal-Halevi, 2018. "Fairness for Multi-Self Agents," Papers 1811.06684, arXiv.org, revised Apr 2022.
    7. Julian Manning, 1994. "Efficiency in Economies with Jurisdictions and Public Projects," Public Economics 9406004, University Library of Munich, Germany.

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