Public Characteristics of Non-public Goods

Douglas Auld and Lorraine Eden ()

Public Finance = Finances publiques, 1990, vol. 45, issue 3, 378-91

Abstract: This paper develops the theory of public and private choice using the Lancastrian characteristics approach. Private and social optima are developed along with the necessary corrective taxes-cum-subsidies. The paper then assumes the policymaker must assign a low priority to one of the private characteristics. The subsequent over- or undershooting of the social optimum together with the attainability of the policy choice are determined. Private, social, and policy optima are compared using equivalent variations.

Date: 1990
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Persistent link: https://EconPapers.repec.org/RePEc:pfi:pubfin:v:45:y:1990:i:3:p:378-91

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