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Walras-Lindahl-Wicksell: What equilibrium concept for public goods provision? I - The convex case

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Abstract

Despite the large number of its references, this paper is less a survey than a systematic exposition, in an unifying framework and assuming convexity as well on the consumption side as on the production side, of the different equilibrium concepts elaborated for studying provision of public goods. As weak as possible conditions for their existence and their optimality properties are proposed. The general conclusion is that the drawbacks of the different equilibrium concepts lead to founding public economic policy either on direct Pareto improving government interventions or on state enforcement of decentralized mechanisms

Suggested Citation

  • Monique Florenzano, 2009. "Walras-Lindahl-Wicksell: What equilibrium concept for public goods provision? I - The convex case," Documents de travail du Centre d'Economie de la Sorbonne 09009, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  • Handle: RePEc:mse:cesdoc:09009
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    Cited by:

    1. Giebe, Thomas & Schweinzer, Paul, 2014. "Consuming your way to efficiency: Public goods provision through non-distortionary tax lotteries," European Journal of Political Economy, Elsevier, vol. 36(C), pages 1-12.
    2. Faias, Marta & Moreno-García, Emma & Wooders, Myrna, 2015. "On neutrality with multiple private and public goods," Mathematical Social Sciences, Elsevier, vol. 76(C), pages 103-106.

    More about this item

    Keywords

    Private provision equilibrium; Lindahl-Foley equilibrium; public competitive equilibrium; abstract economies; equilibrium existence; welfare theorems; core;

    JEL classification:

    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D60 - Microeconomics - - Welfare Economics - - - General
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods

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