Public goods and joint supply

An example is presented which illustrates how analysis of the core of an economy can be used to clarify the debate between Demsetz and Samuelson on the relationship between public goods and joint supply. The core converges to the competitive allocation in an economy with joint supply but the core of...

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Bibliographic Details
Published in:Journal of public economics 1978-01, Vol.9 (3), p.373-382
Main Author: Ellickson, Bryan
Format: Article
Language:English
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Summary:An example is presented which illustrates how analysis of the core of an economy can be used to clarify the debate between Demsetz and Samuelson on the relationship between public goods and joint supply. The core converges to the competitive allocation in an economy with joint supply but the core of a public goods economy does not converge to the Lindahl allocation. The example should prove useful as a pedagogic device, serving as a simple introduction to the technical literature on the core of an economy with public goods.
ISSN:0047-2727
1879-2316
DOI:10.1016/0047-2727(78)90017-8