Showing 1 - 4 of 4
For at least fifty years economists have argued that vertically-aggregated marginal willingness to pay, when set equal to marginal provision cost, will result in optimal public good provision levels. This methodological approach would be expected to yield an exact analog, in terms of optimal...
Persistent link: https://www.econbiz.de/10008493588
Persistent link: https://www.econbiz.de/10005530593
Space matters not only because of the transportation costs it imposes on the economy but also because it can serve as an effective instrument to control pollution damages. Previous models of pollution either disregard space altogether or presume a predetermined separation between polluters and...
Persistent link: https://www.econbiz.de/10010676633
Conventional analysis of public goods provision aggregates individual willinness to pay while treating income as exogenous, ignoring the fact that we generate income to allow us to purchase utility-generating goods. We explore the implications of endogenizing the laborl/leisure decision by...
Persistent link: https://www.econbiz.de/10008567671