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On a Notion of Similarity with Endowments in Public Economics

Author

Listed:
  • Kleinberg Norman L.

    (Baruch College - City University of New York)

  • Ma Barry

    (Baruch College - City University of New York)

  • Weiss Jeffrey

    (Baruch College - City University of New York)

Abstract

We establish that a novel notion of similarity with endowments by Shitovitz and Spiegel (1998) amounts to severe functional form restrictions, and these restrictions on utility functions can be determined by functional equation methods. The resulting functional forms are related to the familiar Cobb-Douglas and quasi-linear forms, as well as the classical result of Bergstrom and Cornes (1983) on the independence of allocative efficiency from distribution in the theory of public goods.

Suggested Citation

  • Kleinberg Norman L. & Ma Barry & Weiss Jeffrey, 2012. "On a Notion of Similarity with Endowments in Public Economics," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 12(1), pages 1-12, July.
    • Handle: RePEc:bpj:bejtec:v:12:y:2012:i:1:n:26
    DOI: 10.1515/1935-1704.1887
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    References listed on IDEAS

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    1. Gordon Tullock, 1967. "The General Irrelevance of the General Impossibility Theorem," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 81(2), pages 256-270.
    2. Caplin, Andrew & Nalebuff, Barry, 1991. "Aggregation and Social Choice: A Mean Voter Theorem," Econometrica, Econometric Society, vol. 59(1), pages 1-23, January.
    3. Peter A. Diamond & James A. Mirrlees, 1973. "Aggregate Production with Consumption Externalities," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 87(1), pages 1-24.
    4. Grandmont, Jean-Michel, 1978. "Intermediate Preferences and the Majority Rule," Econometrica, Econometric Society, vol. 46(2), pages 317-330, March.
    5. Ma, Barry K. & Weiss, Jeffrey H., 1993. "On some generalizations of a mean voter theorem," Economics Letters, Elsevier, vol. 42(2-3), pages 185-188.
    6. Bergstrom, Theodore C & Cornes, Richard C, 1983. "Independence of Allocative Efficiency from Distribution in the Theory of Public Goods," Econometrica, Econometric Society, vol. 51(6), pages 1753-1765, November.
    7. Kleinberg, Norman L. & Ma, Barry K. & Weiss, Jeffrey H., 2012. "On strong independence of allocative efficiency from distribution in the theory of public goods," Economics Letters, Elsevier, vol. 116(3), pages 343-345.
    8. Shitovitz, Benyamin & Spiegel, Menahem, 1998. "Cournot-Nash and Lindahl Equilibria in Pure Public Good Economies," Journal of Economic Theory, Elsevier, vol. 83(1), pages 1-18, November.
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