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| Tekijä: | Diamantaras, D. Wilkie, S. |
| Otsikko: | On the set of Pareto efficient allocations in economies with public goods |
| Lehti: | Economic Theory
1996 : VOL. 7:2, p. 371-379 |
| Asiasana: | ALLOCATION ECONOMIC CONDITIONS PUBLIC GOODS |
| Kieli: | eng |
| Tiivistelmä: | The authors examine the set of Pareto-efficient allocations in economies with public goods. They show that even if preferences are continuous and strongly monotonic, it need not coincide with the set of weakly efficient allocations. they then study topological properties of the pareto set. The authors show that it is neither connected nor closed in allocation space. Furthermore, if the public goods are local, the image of the Pareto set in utility space need not be closed or connected. The authors provide two independent sufficient conditions for the closedness of the Pareto set. |
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