Equilibrium and the core in Alonso's discrete population model of land use

Marcus Berliant () and M.H. ten Raa
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M.H. ten Raa: Tilburg University, Center for Economic Research

No 118, Discussion Paper from Tilburg University, Center for Economic Research

Abstract: Conventional wisdom tells us that with no market failure and local non-satiation of preferences, the core is at least as large as the collection of competitive equilibrium allocations. We con.rm this for a standard model featuring land. Next we consider the public land ownership version of the model. If the role of land ownership and rent distribution is assumed by a government that ploughs back rent (at least in excess of its agricultural value) to its citizens, the equilibrium remains efficient, but no longer need be in the core.

JEL-codes: H42 R13 R52 D51 D61 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-geo, nep-gth and nep-ure
Date: Written
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Related works:
Working Paper: Equilibrium and the Core in Alonso's Discrete Population Model of Land Use (2005)
Journal Article: EQUILIBRIUM AND THE CORE IN ALONSO'S DISCRETE POPULATION MODEL OF LAND USE (2007)
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Persistent link: http://EconPapers.repec.org/RePEc:dgr:kubcen:2004118

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