The Theory of Local Public Goods Twenty-Five Years After Tiebout: A Perspective

This paper asks, under what conditions can the Fundamental Theorem of Welfare Economics be extended to economies with local public goods? We show that there are some fairly restrictive sets of assumptions under which a competitive local public goods equilibrium (if it exists) is efficient; more

本文探讨了福利经济学基本定理（Fundamental Theorem of Welfare Economics）在何种条件下可拓展至包含地方公共物品（local public goods）的经济体中？研究表明，存在若干限制性较强的假设集合，在此假设下，若竞争性地方公共物品均衡（competitive local public goods equilibrium）存在，则该均衡具有效率；此外...