Decentralization of Pareto optima in economies with public projects, nonessential private goods and convex costs

Autor:	Suzanne Scotchmer, Robert P. Gilles, Dimitrios Diamantaras
Rok vydání:	1996
Předmět:	Private good Common-pool resource Microeconomics Economics and Econometrics Goods and services Economy Mixed economy Public goods game Economics Public good Decentralization Public finance
Zdroj:	Economic Theory. 8:555-564
ISSN:	1432-0479 0938-2259
Popis:	In the theory of economies with public goods one usually considers the case in which private goods are essential, i.e., each agent receives a fixed minimum level of utility if he consumes no private goods, irrespective of the public goods consumed. This paper develops the second welfare theorem for economies with public projects and possibly inessential private goods. As a corollary we also derive conditions under which valuation equilibria exist.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::1a6bb8eb7613405560933dd7a8d7de09 https://doi.org/10.1007/bf01213509 Zobrazit plný text záznamu Full text from SpringerLink