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Lindahl's Solution and the Core of an Economy with Public Goods
Duncan K. Foley
Vol. 38, No. 1 (Jan., 1970), pp. 66-72
Published by: The Econometric Society
Stable URL: http://www.jstor.org/stable/1909241
Page Count: 7
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In an economy with an arbitrary number of consumers and an arbitrary number of commodities, some public and some private, I propose a generalization of Lindahl's equilibrium solution, and prove an existence theorem for it. A particular generalization of the "core" of an exchange equilibrium to an economy with public goods is proposed, and it is shown that a Lindahl equilibrium allocation is also a core allocation.
Econometrica © 1970 The Econometric Society