Existence and regularity of equilibria in a general equilibrium model with private provision of a public good

DOI10.1016/J.JMATECO.2004.12.005MaRDI QIDQ2387410zbMATH OpenOpenAlexFDO

Authors Antonio Villanacci, E. Ünal Zenginobuz

Publication date 2 September 2005

Published in Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jmateco.2004.12.005

zbMATH Keywords

ExistenceGeneral equilibrium modelGeneric regularityPrivate provision of public good

Mathematics Subject Classification ID

Minimax problems in mathematical programming (90C47) Public goods (91B18) General equilibrium theory (91B50)

Review text

The paper is devoted to the study of equilibrium in a general equilibrium model of a completely decentralized pure public good economy. The main assumptions are the following: several private goods are presented, and a nonlinear production technology is presupposed. A proof of existence is given by using simple homotopy argument. It is based mainly in linking the true model with a fictious one where the public good is considered a a private. It is shown that for any vector of utility and transformation functions and ownership shares, in an open and full measure subset of endowments, there exists a finite number of equilibria and equilibrium variables depend locally smoothly on the exogenous variables.

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Cites work

• Differential Topology
• General equilibrium
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• Matrix Analysis
• Solving systems of simultaneous equations in economics
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• Subscription equilibrium with production: non-neutrality and constrained suboptimality

Cited in

(16)

• Private ownership economies with externalities and existence of competitive equilibria: a differentiable approach
• Fundamental non-convexity and externalities: a differentiable approach
• Regular public good economies
• Equilibrium existence and uniqueness in impure public good models
• Endowment-regarding preferences
• Generic regularity of differentiated product oligopolies
• A strategic market game approach for the private provision of public goods
• General consumption constraints and regular economies
• Voluntary contributions to multiple public goods in a production economy with widespread externalities
• Subscription equilibrium with production: non-neutrality and constrained suboptimality
• Public Interest and Private Enterprize: New Developments
• On the regularity of smooth production economies with externalities: competitive equilibrium à la Nash
• Generic regularity of competitive equilibria with restricted participation
• Contributing with private bundles to public goods
• Pareto improving interventions in a general equilibrium model with private provision of public goods
• On neutrality with multiple private and public goods

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