A Core-equilibrium Convergence in an Economy with Public Goods
This paper deals with a core-equilibrium equivalence in an economy with public goods where preferences of consumers display warm glow effects. We demonstrate that provided that each consumer becomes satiated to other consumers provision, it holds that, for a sufficiently large economy, the set of Edgeworth allocations is non-empty. Moreover, we show that an Edgeworth allocation could be decentralized as a warm glow equilibrium.
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- Nizar Allouch, 2013.
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- Monique Florenzano & Elena Laureana Del Mercato, 2004.
"Edgeworth and Lindahl-Foley equilibria of a general equilibrium model with private provision of pure public goods,"
Cahiers de la Maison des Sciences Economiques
b04082, Université Panthéon-Sorbonne (Paris 1).
- MONIQUE FLORENZANO & ELENA L. del MERCATO, 2006. "Edgeworth and Lindahl-Foley equilibria of a General Equilibrium Model with Private Provision of Pure Public Goods," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 8(5), pages 713-740, December.
- Monique Florenzano & Elena L. Del Mercato, 2006. "Edgeworth and Lindahl-Foley equilibria of a general equilibrium model with private provision of pure public goods," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00085726, HAL.
- Milleron, Jean-Claude, 1972. "Theory of value with public goods: A survey article," Journal of Economic Theory, Elsevier, vol. 5(3), pages 419-477, December.
- Conley John P., 1994. "Convergence Theorems on the Core of a Public Goods Economy: Sufficient Conditions," Journal of Economic Theory, Elsevier, vol. 62(1), pages 161-185, February.
- Myles,Gareth D., 1995. "Public Economics," Cambridge Books, Cambridge University Press, number 9780521497695, June.
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