Some comments on majority rule equilibria in local public good economies (Q1112707): Difference between revisions
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Revision as of 21:27, 19 March 2024
scientific article
| Language | Label | Description | Also known as |
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| English | Some comments on majority rule equilibria in local public good economies |
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Some comments on majority rule equilibria in local public good economies (English)
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1989
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This paper examines some of the main assumptions and results of the literature on majority rule equilibrium in local public good economies. It is shown that the usual assumption that the ordering of agents' MRSs between the private and public good is a continuous, monotone function of income and independent of the other economic variables is not necessary for an MRE to exist. In addition, it is shown that in economies with ``home ownership'', stratification of agents by income or preferences need not occur in equilibrium.
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majority rule equilibrium
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local public good economies
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