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This article examines the logical foundation of the procedure of maxi-mizing an arbitrary welfare function to obtain necessary conditions for Pareto optimality. In a general set theoretic context, a sufficient condition for obtaining necessary conditions for Pareto optimality by maximizing an...
Persistent link: https://www.econbiz.de/10010687267
In this paper a property tax model is constructed in which the proceeds of the property tax are used to provide a public good. Generally speaking, it is argued that public provision of public goods will not be Pareto optimal in that public provision will result in the oversupply of public goods.
Persistent link: https://www.econbiz.de/10010781723