Equilibrium and the Core in Alonso's Discrete Population Model of Land Use
Marcus Berliant () and
Thijs ten Raa ()
No 2004-118, Discussion Paper from Tilburg University, Center for Economic Research
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.
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)
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Journal Article: EQUILIBRIUM AND THE CORE IN ALONSO'S DISCRETE POPULATION MODEL OF LAND USE (2007)
Working Paper: Equilibrium and the Core in Alonso's Discrete Population Model of Land Use (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:tiu:tiucen:00e041db-9257-41d1-a5fc-764252bf1ce8
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