Efficiency, monotonicity and rationality in public goods economies
In economies with public goods, we provide a necessary and sufficient condition for the existence of cost monotonic selections from the set of Pareto optimal and individually rational allocations. Such selections exist if and only if the preferences of the agents satisfy what we call the equal ordering property. This requirement is very restrictive in the context oC more than one public good. However, whenever it holds any such mechanism must choose an egalitarian equivalent allocation.
|Date of creation:||Jul 1996|
|Date of revision:|
|Publication status:||Published by Ivie|
|Contact details of provider:|| Postal: |
Phone: +34 96 319 00 50
Fax: +34 96 319 00 55
Web page: http://www.ivie.es/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:ivi:wpasad:1996-12. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Departamento de Edición)
If references are entirely missing, you can add them using this form.