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• W3122141886 abstract "Planning procedures for guiding and financing the production of public goods have been proposed by Dreze, de la Vallee Poussin [4] and Malinvaud [8]. Planning procedures are of particular interest in such a case since, as it is well known, the pure non-cooperative competitive mechanism generally leads to inefficient situations in the presence of public goods. Although the solutions proposed by these two procedures to the problem of production and exchange of private goods are very different, they both adopt the same rules for the revision of the public goods quantities. Therefore in the model with only one private good which is considered throughout this paper the two procedures coincide and we shall call it the MDP procedure. The MDP procedure enjoys two properties which justify its study. During the procedure a social surplus appears which can be redistributed among consumers so as to permit an increase in all utility levels-i.e. the procedure is monotonic. Moreover, under usual convexity assumptions the procedure converges to an efficient (or Pareto optimal) situation -i.e. it is stable. Knowing that an efficient situation will obtain if the MDP procedure is implemented, a further question arises. What efficient situations can be reached in such a way? This paper gives conditions under which the following answer holds. Every efficient situation which is preferred or equivalent to the initial situation can be reached by the use of the MDP procedure with a suitable choice of the distribution of the social surplus appearing during the procedure. This choice can be made before the beginning of the procedure and can be kept constant along the procedure. Therefore any negotiation taking place before the beginning of the procedure can legitimately be concentrated upon the choice of a distribution of this surplus. Nobody can object to the rules followed in the revision of the public goods quantities since these rules do not have by themselves any distributive implications. We can say that they are neutral . The model and the MDP procedure are described in Section 2. A precise definition of neutrality and the main results of the paper are presented and discussed in Section 3. Finally, the proofs are given in Section 4." @default.
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• W3122141886 date "1976-01-01" @default.
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• W3122141886 title "Neutrality of planning procedures in an economy with public goods" @default.
• W3122141886 hasPublicationYear "1976" @default.
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