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Efficiency, monotonicity and rationality in public goods economies

Author

Listed:
  • Miguel Ginés Vilar

    (Universitat Jaume I)

  • Francisco Marhuenda Hurtado

    (Universidad Carlos III de Madrid)

Abstract

In economies with public goods, we provide a necessary and sufficient condition for the existence of cost monotonic selections from the set of Pareto optimal and individually rational allocations. Such selections exist if and only if the preferences of the agents satisfy what we call the equal ordering property. This requirement is very restrictive in the context oC more than one public good. However, whenever it holds any such mechanism must choose an egalitarian equivalent allocation.

Suggested Citation

  • Miguel Ginés Vilar & Francisco Marhuenda Hurtado, 1996. "Efficiency, monotonicity and rationality in public goods economies," Working Papers. Serie AD 1996-12, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    • Handle: RePEc:ivi:wpasad:1996-12
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    File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-1996-12.pdf
    File Function: Fisrt version / Primera version, 1996
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    Cited by:

    1. Thomson, William, 2011. "Chapter Twenty-One - Fair Allocation Rules," Handbook of Social Choice and Welfare, in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 2, chapter 21, pages 393-506, Elsevier.

    More about this item

    Keywords

    Public goods; technological monotonicity; egalitarian equivalent allocations;
    All these keywords.

    JEL classification:

    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods

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