Fundamental nonconvexities in Arrovian markets and a Coasian solution to the problem of externalities
Article Abstract:
Arrow externality markets fail because of the structures of such markets, which have unbounded endowments of property rights, and not because of the nonconvexities D. Starrett attributes to the markets. This is an extension of the Samuelson public goods model to solve the problem of why Arrovian markets fail.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1997
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Tiebout economies with differential genetic types and endogenously chosen crowding characteristics
Article Abstract:
Research investigating a Tiebout economy with differential public projects and crowding characteristics is presented. Particular attention is given to agents differing in respect of their genetic endowments and tastes. Jurisdictions which are homogenous from the taste point of view are found.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 2001
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A note on the optimal structure of production
Article Abstract:
The structure of industries in terms of levels of centralization is examined in detail in a context where there are several production stages. The problem of informational diseconomies is discussed.
Publication Name: Journal of Economic Theory
Subject: Economics
ISSN: 0022-0531
Year: 1999
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