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| Author: | Tian, G. |
| Title: | A unique informationally efficient allocation mechanism in economies with consumption externalities |
| Journal: | International Economic Review
2004 : FEB, VOL. 45:1, p. 79-111 |
| Index terms: | Consumption Externalities Information Resource allocation |
| Language: | eng |
| Abstract: | The informational requirements of resource allocation processes in pure exchange economies with consumption externalities are investigated in this paper. It is shown that the distributive Lindahl mechanism has a minimal informational size of the message space, and thus it is informationally the most efficient allocation process that is informationally decentralized and realizes Pareto-efficient allocations over the class of economies that include nonmalevolent economies. |
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