On the Edgeworth conjecture for production economies with public goods: A contract-based approach

Valeriy Marakulin ()

Journal of Mathematical Economics, 2013, vol. 49, issue 3, 189-200

Abstract: The paper applies and elaborates a contractual approach to study economies with a production of public goods. The barter contractual approach was developed in Marakulin (2003, 2011) for exchange economies; it is now modified and extended to the production economy. This includes hereby the introduction of a production contract and the adoption of known earlier notions: a web of contracts, coalitional domination for webs, a partial breaking of contracts, and so on. Thus specific notions of properly contractual and fuzzy contractual allocations for an economy with public goods are introduced and their equivalence with Lindahl equilibria is stated. These theorems can be interpreted as a new way of perfect competition presentation.

Keywords: Public goods; Contract; Walrasian and Lindahl equilibria; Foley core (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0304406813000062
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:49:y:2013:i:3:p:189-200

DOI: 10.1016/j.jmateco.2013.01.004

Access Statistics for this article

Journal of Mathematical Economics is currently edited by Atsushi (A.) Kajii

More articles in Journal of Mathematical Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().