Efficient Allocations in Club Economies
Marcus Berliant () and
John Edwards ()
Journal of Public Economic Theory, 2004, vol. 6, issue 1, 43-63
We explore the characteristics of Pareto-optimal allocations in the context of local public goods or clubs. A set of first-order conditions for Pareto optimality is provided. Classical treatments apparently neglect an important term related to migrant compensation, and thus are incorrect. A Pareto optimum is shown to exist. Copyright 2004 Blackwell Publishing Inc..
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