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Positional Goods: A Diagrammatic Exposition

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  • Massimiliano Vatiero

Abstract

Positional good shares with public good the non-private characteristic of consumption: for a positional good, given the consumption choice of one party, the other(s) must consume a corresponding negative amount of what the first party chooses to consume. Therefore, we treat positional good in a diagrammatic illustration similar to the Samuelsonian criteria for the public good. The aim of this work is to introduce the implications for this in terms of Pareto efficiency

Suggested Citation

  • Massimiliano Vatiero, 2009. "Positional Goods: A Diagrammatic Exposition," Department of Economics University of Siena 575, Department of Economics, University of Siena.
    • Handle: RePEc:usi:wpaper:575
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    File URL: http://repec.deps.unisi.it/quaderni/575.pdf
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    References listed on IDEAS

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    1. Green, Jerry & Laffont, Jean-Jacques, 1977. "Characterization of Satisfactory Mechanisms for the Revelation of Preferences for Public Goods," Econometrica, Econometric Society, vol. 45(2), pages 427-438, March.
    2. Samuelson, Paul A, 1969. "Contrast between Welfare Conditions for Joint Supply and for Public Goods," The Review of Economics and Statistics, MIT Press, vol. 51(1), pages 26-30, February.
    3. Green, Jerry & Laffont, Jean-Jacques, 1977. "On the revelation of preferences for public goods," Journal of Public Economics, Elsevier, vol. 8(1), pages 79-93, August.
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    Cited by:

    1. Massimiliano Vatiero, 2010. "From W. N. Hohfeld to J. R. Commons, and Beyond? A “Law and Economics” Enquiry on Jural Relations," American Journal of Economics and Sociology, Wiley Blackwell, vol. 69(2), pages 840-866, April.

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    Keywords

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    JEL classification:

    • D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • D62 - Microeconomics - - Welfare Economics - - - Externalities

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