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Equivalence of Lindahl equilibrium with participation prices and the core (*)

Author

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  • Myrna Holtz Wooders

    (Department of Economics, University of Toronto, M5S 1A1, CANADA)

Abstract

In a model of an economy with multiple public goods and differentiated crowding, it is shown that asymptotically the core has the equal treatment property and coincides with the equilibrium outcomes. It follows that all individuals of the same type in the same jurisdiction must pay the same Lindahl taxes and, with strict convexity of preferences, the same Lindahl prices. With only one private good, for sufficiently large economies we show (a) the equivalence of the core and the set of equilibrium outcomes and (b) the nonemptiness of approximate cores and their equivalence to the set of approximate equilibrium outcomes.

Suggested Citation

  • Myrna Holtz Wooders, 1996. "Equivalence of Lindahl equilibrium with participation prices and the core (*)," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 9(1), pages 115-127.
    • Handle: RePEc:spr:joecth:v:9:y:1996:i:1:p:115-127
    Note: Received: December 13, 1993; revised version August 31, 1995
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    Citations

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    Cited by:

    1. Gersbach, Hans & Haller, Hans, 2006. "Clubs and Households," CEPR Discussion Papers 5687, C.E.P.R. Discussion Papers.
    2. Anne van den Nouweland & Myrna H. Wooders, 2005. "Status Equilibrium in Local Public Good Economies," University of Oregon Economics Department Working Papers 2005-14, University of Oregon Economics Department, revised 01 May 2008.
    3. Kovalenkov, A. & Holtz Wooders, M., 1997. "Epsilon Cores of Games and Economies With Limited Side Payments," UFAE and IAE Working Papers 392.97, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    4. Allouch, Nizar & Wooders, Myrna, 2002. "Competitive Pricing In Socially Networked Economies," The Warwick Economics Research Paper Series (TWERPS) 639, University of Warwick, Department of Economics.
    5. John P. Conley & Myrna Wooders, 1998. "Anonymous Lindahl Pricing in a Tiebout Economy with Crowding Types," Canadian Journal of Economics, Canadian Economics Association, vol. 31(4), pages 952-974, November.
    6. Nizar Allouch & Myrna Wooders, 2004. "Price Taking Equilibrium in Club Economies with Multiple Memberships and Unbounded Club Sizes," Working Papers 513, Queen Mary University of London, School of Economics and Finance.
    7. Conley, John P. & Wooders, Myrna H., 1997. "Equivalence of the Core and Competitive Equilibrium in a Tiebout Economy with Crowding Types," Journal of Urban Economics, Elsevier, vol. 41(3), pages 421-440, May.
    8. Edward Cartwright & Myrna Wooders, 2005. "The Law od Demand in Tiebout Economies," Vanderbilt University Department of Economics Working Papers 0527, Vanderbilt University Department of Economics.
    9. John P. Conley & Myrna Holtz Wooders, 1998. "The Tiebout Hypothesis: On the Existence of Pareto Efficient Competitive Equilibrium," Working Papers mwooders-98-06, University of Toronto, Department of Economics.
    10. Anne van den Nouweland & Myrna H. Wooders, 2005. "Status Equilibrium for Local Public Good Economies," Vanderbilt University Department of Economics Working Papers 0523, Vanderbilt University Department of Economics.

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