Shared Consumption: A Technological Analysis
James Buchanan (Economica, 1966) has argued that Alfred Marshall's theory of jointly-supplied goods can be extended to analyze the allocation of impure public goods. This article introduces a way of modelling sharing technologies for jointly-supplied goods that captures the essential features of Buchanan's proposal. Public and private goods are special cases of shared goods obtained by appropriately specifying the sharing technology. Necessary conditions for an allocation in a shared goods economy to be Pareto optimal are identified and related to the optimality conditions for public and private goods.
|Date of creation:||Feb 2003|
|Date of revision:||Jul 2003|
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- Oakland, William H., 1987. "Theory of public goods," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 2, chapter 9, pages 485-535 Elsevier.
- Holtermann, S E, 1972. "Externalities and Public Goods," Economica, London School of Economics and Political Science, vol. 39(153), pages 78-87, February.
- Sandmo, Agnar, 1973. "Public Goods and the Technology of Consumption," Review of Economic Studies, Wiley Blackwell, vol. 40(4), pages 517-28, October.
- Cornes,Richard & Sandler,Todd, 1996. "The Theory of Externalities, Public Goods, and Club Goods," Cambridge Books, Cambridge University Press, number 9780521477185.
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