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Provision of a discrete public good with infinitely-many commodities

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Abstract
Suppose a group of individuals must decide whether to undertake a public project. The private commodity space, from which are also drawn the inputs for the public good, exhibits the Riesz decomposition property. We give a sufficient condition for the existence of a feasible provision of the public good that Pareto-dominates inaction. The condition is that the `net benefit' from the public project be positive. If this condition is met, by the Riesz decomposition property the cost of the project can be decomposed into a sum of individual contributions or taxes so that the project can be `financed' and every agent retains a positive surplus.
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2013
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Department of Economics
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Investment analysis, Public goods, Efficient provision, Ordered vector spaces, Riesz decomposition property
Citation
Ruscitti, Francesco. “Provision of a Discrete Public Good with Infinitely-Many Commodities.” Economics Bulletin 33 (1): 28–34. 2013.
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https://hdl.handle.net/20.500.14490/1436
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Attribution 4.0 International
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