Testing pareto efficiency and competitive equilibrium in economies with public goods

dc.contributorEscolas::EPGE
dc.contributorFGV
dc.creatorEscobar, Andrés
dc.creatorSong, Xinxi
dc.date.accessioned2018-10-25T18:23:25Z
dc.date.accessioned2022-11-03T20:15:37Z
dc.date.available2018-10-25T18:23:25Z
dc.date.available2022-11-03T20:15:37Z
dc.date.created2018-10-25T18:23:25Z
dc.date.issued2018
dc.identifier0304-4068
dc.identifierhttp://hdl.handle.net/10438/25206
dc.identifier10.1016/j.jmateco.2017.11.001
dc.identifier2-s2.0-85044676008
dc.identifier.urihttps://repositorioslatinoamericanos.uchile.cl/handle/2250/5034798
dc.description.abstractWe characterize the nonparametric testable implications of Pareto efficiency and competitive equilibrium in economies with public goods, with and without warm-glow preferences, using mixed integer programming (MIP). Compared with tests based on the Tarski–Seidenberg algorithm, our tests are linear with respect to real and integer variables, and therefore operational, i.e., applicable to real data with multiple individuals and multiple observations. Monte Carlo simulation shows our tests can be implemented within reasonable time and have reasonable power when individual consumption can be (partially) observed. © 2017 Elsevier B.V.
dc.languageeng
dc.publisherElsevier B.V.
dc.relationJournal of Mathematical Economics
dc.rightsopenAccess
dc.sourceScopus
dc.subjectNash–Walras equilibrium
dc.subjectPareto efficiency
dc.subjectPublic goods
dc.subjectWarm-glow
dc.titleTesting pareto efficiency and competitive equilibrium in economies with public goods
dc.typeArticle (Journal/Review)


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