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Subscription equilibria with public production: Existence and regularity

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  • Villanacci, Antonio
  • Zenginobuz, Unal

Abstract

We revisit the analysis of subscription equilibria in a full fledged general equilibrium model with public goods. We study the case of a nonprofit, or public, firm that produces the public good using private goods as inputs, which are to be financed by voluntary contributions (subscriptions) of households. We prove existence and generic regularity of subscription equilibria.

Suggested Citation

  • Villanacci, Antonio & Zenginobuz, Unal, 2005. "Subscription equilibria with public production: Existence and regularity," MPRA Paper 132, University Library of Munich, Germany, revised 21 Sep 2006.
    • Handle: RePEc:pra:mprapa:132
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    File URL: https://mpra.ub.uni-muenchen.de/132/1/MPRA_paper_132.pdf
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    References listed on IDEAS

    as
    1. Antonio Villanacci & Ünal Zenginobuz, 2007. "On the Neutrality of Redistribution in a General Equilibrium Model with Public Goods," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 9(2), pages 183-200, April.
    2. Richard Cornes & Roger Hartley & Todd Sandler, 1999. "Equilibrium Existence and Uniqueness in Public Good Models: An Elementary Proof via Contraction," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 1(4), pages 499-509, October.
    3. Myles,Gareth D., 1995. "Public Economics," Cambridge Books, Cambridge University Press, number 9780521497695.
    4. Antonio Villanacci & Ünal Zenginobuz, 2006. "Pareto improving interventions in a general equilibrium model with private provision of public goods," Review of Economic Design, Springer;Society for Economic Design, vol. 10(3), pages 249-271, December.
    5. Villanacci, Antonio & Zenginobuz, E.Unal, 2005. "Existence and regularity of equilibria in a general equilibrium model with private provision of a public good," Journal of Mathematical Economics, Elsevier, vol. 41(4-5), pages 617-636, August.
    6. repec:bla:econom:v:52:y:1985:i:205:p:103-16 is not listed on IDEAS
    7. Shafer, Wayne & Sonnenschein, Hugo, 1975. "Some theorems on the existence of competitive equilibrium," Journal of Economic Theory, Elsevier, vol. 11(1), pages 83-93, August.
    8. 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.
    9. Unal Zenginobuz & Antonio Villanacci, 2009. "Subscription Equilibrium with Production: Neutrality and Constrained Suboptimality of Equilibria," Working Papers 2009/03, Bogazici University, Department of Economics.
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    Cited by:

    1. Antonio Villanacci & Ünal Zenginobuz, 2007. "On the Neutrality of Redistribution in a General Equilibrium Model with Public Goods," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 9(2), pages 183-200, April.
    2. Antonio Villanacci & Ünal Zenginobuz, 2006. "Pareto improving interventions in a general equilibrium model with private provision of public goods," Review of Economic Design, Springer;Society for Economic Design, vol. 10(3), pages 249-271, December.
    3. Villanacci, Antonio & Zenginobuz, E.Unal, 2005. "Existence and regularity of equilibria in a general equilibrium model with private provision of a public good," Journal of Mathematical Economics, Elsevier, vol. 41(4-5), pages 617-636, August.
    4. Unal Zenginobuz & Antonio Villanacci, 2009. "Subscription Equilibrium with Production: Neutrality and Constrained Suboptimality of Equilibria," Working Papers 2009/03, Bogazici University, Department of Economics.
    5. Villanacci, Antonio & Zenginobuz, Ünal, 2012. "Subscription equilibrium with production: Non-neutrality and constrained suboptimality," Journal of Economic Theory, Elsevier, vol. 147(2), pages 407-425.
    6. Kung, Fan-chin, 2008. "Voluntary contributions to multiple public goods in a production economy with widespread externalities," Journal of Mathematical Economics, Elsevier, vol. 44(12), pages 1364-1378, December.

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    More about this item

    Keywords

    general equilibrium; public goods; subscription equilibrium; existence; generic regularity;
    All these keywords.

    JEL classification:

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

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