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Status Equilibrium for Local Public Good Economies

Author

Listed:
  • Anne van den Nouweland

    (Department of Economics, University of Oregon)

  • Myrna H. Wooders

    (Department of Economics, Vanderbilt University)

Abstract

We introduce a concept of status equilibrium for local public good economies. A status equilibrium specifies one status index for each agent in an economy. These indices determine agents' cost shares in any possible jurisdiction to which the agent might belong. We provide an axiomatic charaterization of status equilibrium using consistency properties.

Suggested Citation

  • Anne van den Nouweland & Myrna H. Wooders, 2005. "Status Equilibrium for Local Public Good Economies," Vanderbilt University Department of Economics Working Papers 0523, Vanderbilt University Department of Economics.
    • Handle: RePEc:van:wpaper:0523
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    References listed on IDEAS

    as
    1. Conley, John P. & Wooders, Myrna H., 2001. "Tiebout Economies with Differential Genetic Types and Endogenously Chosen Crowding Characteristics," Journal of Economic Theory, Elsevier, vol. 98(2), pages 261-294, June.
    2. Kaneko, Mamoru, 1977. "The Ratio Equilibria and the Core of the Voting Game G(N, W) in a Public Goods Economy," Econometrica, Econometric Society, vol. 45(7), pages 1589-1594, October.
    3. Hervé Moulin, 2000. "Priority Rules and Other Asymmetric Rationing Methods," Econometrica, Econometric Society, vol. 68(3), pages 643-684, May.
    4. Eric Maskin, 1999. "Nash Equilibrium and Welfare Optimality," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 66(1), pages 23-38.
    5. Foley, Duncan K, 1970. "Lindahl's Solution and the Core of an Economy with Public Goods," Econometrica, Econometric Society, vol. 38(1), pages 66-72, January.
    6. Mas-Colell, Andreu & Silvestre, Joaquim, 1989. "Cost share equilibria: A Lindahlian approach," Journal of Economic Theory, Elsevier, vol. 47(2), pages 239-256, April.
    7. Anne van den Nouweland & Myrna H. Wooders & S. Tijs, 2002. "Axiomatization of ratio equilibria in public good economies," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 19(3), pages 627-636.
    8. Mas-Colell, Andreu & Silvestre, Joaquim, 1991. "A note on cost-share equilibrium and owner-consumers," Journal of Economic Theory, Elsevier, vol. 54(1), pages 204-214, June.
    9. Kaneko, Mamoru, 1977. "The ratio equilibrium and a voting game in a public goods economy," Journal of Economic Theory, Elsevier, vol. 16(2), pages 123-136, December.
    10. Myrna Holtz Wooders, 1996. "Equivalence of Lindahl equilibrium with participation prices and the core (*)," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 9(1), pages 115-127.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Local public goods; status equilibrium; axiomatic characterization;
    All these keywords.

    JEL classification:

    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies

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