Two unpublished papers from the 1950s

Peacock, Alan; Wiseman, Jack

doi:10.1080/09672567.2010.501137

The European Journal of the History of Economic Thought

2010

DOI: 10.1080/09672567.2010.501137

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Two unpublished papers from the 1950s

Alan Peacock¹,

Jack Wiseman

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2010

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Government and the provision of public goods:from equilibrium models to mechanismdesign

Florenzano¹

2010

The European Journal of the History of Economic Thought

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This paper investigates to what extent the seminal contribution of Samuelson has been or not incorporated by the theories of general equilibrium and mechanism design in their analysis of optimal public good provision, and more generally of optimal public policy. Our conclusion is that, far from taking up the challenges raised by Samuelson's contribution, both paradigms lead to the negative conclusion of the impossibility of a fully decentralized optimal public goods provision through market or market-like institutions, without giving a key for (re)defining the role of state in market economies.General equilibrium, Lindahl-Foley equilibrium, Wicksell-Foley public competitive equilibrium, private provision equilibrium, mechanism design, free-rider problem, incentive compatibility, principal-agent models,

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Government and the provision of public goods:from equilibrium models to mechanismdesign

Florenzano¹

2010

The European Journal of the History of Economic Thought

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Two unpublished papers from the 1950s

Cited by 1 publication

References 9 publications

Government and the provision of public goods:from equilibrium models to mechanismdesign

Government and the provision of public goods:from equilibrium models to mechanismdesign

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