The Provision of Collective Goods Through a Social Division of Labour
This paper develops a general equilibrium framework of a continuum economy in which (non-Samuelsonian) collective goods are provided by specialised professionals as part of an endogenously emerging social division of labour. This model merges the notion of valuation equilibrium in an economy with collective goods with the model of a market economy with an endogenously emerging social division of labour. This allows for the implementation of Adam Smith’s principle of increasing returns to specialisation into the foundations for the economy’s ability to deliver collective goods. We introduce the appropriate generalised notion of valuation equilibrium in this setting and prove the first and second welfare theorems for this notion, enhancing the standard framework of an economy with (non-Samuelsonian) collective goods and multiple private goods. We conclude with an application of the theory we develop to the issue of green energy and pollution abatement, exploiting the flexibility and generality our framework offers.
|Date of creation:||28 Mar 2017|
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- Dimitrios Diamantaras & Robert P. Gilles, 1997. "Linear cost sharing in economies with non-Samuelsonian public goods: Core equivalence," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 15(1), pages 121-139.
- Xiaokai Yang & Jeff Borland, 2005.
"A Microeconomic Mechanism For Economic Growth,"
World Scientific Book Chapters,in: An Inframarginal Approach To Trade Theory, chapter 18, pages 409-436
World Scientific Publishing Co. Pte. Ltd..
- Yang, Xiaokai & Borland, Jeff, 1991. "A Microeconomic Mechanism for Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 99(3), pages 460-482, June.
- Achille Basile & Maria Gabriella Graziano & Marialaura Pesce, 2016. "Oligopoly And Cost Sharing In Economies With Public Goods," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 57, pages 487-506, May.
- Maria Graziano & Maria Romaniello, 2012. "Linear cost share equilibria and the veto power of the grand coalition," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 38(2), pages 269-303, February.
- Maria Gabriella Graziano & Maria Romaniello, 2010. "Linear Cost Share Equilibria and the Veto Power of the Grand Coalition," CSEF Working Papers 248, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Diamantaras, Dimitrios & Gilles, Robert P, 1996. "The Pure Theory of Public Goods: Efficiency, Dencentralization, and the Core," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 37(4), pages 851-860, November.
- Dimitrios Diamantaras & Robert P. Gilles, 1994. "The Pure Theory of Public Goods: Efficiency, Decentralization, and the Core," Public Economics 9403001, EconWPA.
- Maria Gabriella Graziano, 2007. "Economies With Public Projects: Efficiency And Decentralization," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 48(3), pages 1037-1063, August. Full references (including those not matched with items on IDEAS)
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