Equilibrium and the Core in Alonso's Discrete Population Model of Land Use

Marcus Berliant () and Thijs ten Raa ()

Public Economics from EconWPA

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 confirm 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.

Keywords: Publicly Provided Private Goods; Equilibrium; Core (search for similar items in EconPapers)
JEL-codes: H42 R13 R52 D51 D61 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ure
Date: 2004-11-22, Revised 2005-06-23
Note: Type of Document - pdf; pages: 14
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http://129.3.20.41/eps/pe/papers/0411/0411010.pdf (application/pdf)

Related works:
Working Paper: Equilibrium and the core in Alonso's discrete population model of land use (2004)
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:wpa:wuwppe:0411010

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