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- W2016028862 abstract "In two recent investigations into the economic problems of externality the authors have noted in passing that the welfare or optimality conditions in the case of a consumption externality seemed identical with the welfare conditions in the case of public goods as originally stated by Samuelson. 1 The purpose of this paper is to demonstrate that the welfare conditions for a public good are a special case of the welfare conditions for a consumption externality where a public good is defined as a good ‘which all enjoy in common in the sense that each individual's consumption of such a good leads to no subtraction from any other individual's consumption of that good’ (Samuelson [4]). Since the welfare conditions for a private good are also a special case of the welfare conditions for a consumption externality, it follows that we have a range of externality with the pure private good and the pure public good as polar cases." @default.
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- W2016028862 date "1970-02-01" @default.
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- W2016028862 title "PRIVATE GOOD, EXTERNALITY, PUBLIC GOOD" @default.
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- W2016028862 doi "https://doi.org/10.1111/j.1467-9485.1970.tb00488.x" @default.
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