Equilibrium and the Core in Alonso's Discrete Population Model of Land Use
Marcus Berliant () and
Thijs ten Raa ()
Public Economics from University Library of Munich, Germany
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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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 (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwppe:0411010
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