| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP6842
|
| DP6842 How Differences in Property Taxes within Cities Affect Urban Sprawl? |
| Yves Zenou; Yan Song
|
| 发表日期 | 2008-05-30
|
| 出版年 | 2008
|
| 语种 | 英语
|
| 摘要 | We study competitive market outcomes in economies where agents have other-regarding preferences. We identify a separability condition on monotone preferences that is necessary and sufficient for one's own demand to be independent of the allocations and characteristics of other agents in the economy. Given separability, it is impossible to identify other-regarding preferences from market behaviour: agents behave as if they had classical preferences that depend only on own consumption in competitive equilibrium. If preferences, in addition, depend only on the final allocation of consumption in society, the Second Welfare Theorem holds as long as an increase in resources can be distributed such that all agents are better off. Nevertheless, the First Welfare Theorem generally does not hold. Allowing agents to care about their own consumption and the distribution of consumption possibilities in the economy, we provide a condition under which agents have no incentive to make direct transfers, and show that this condition implies that competitive equilibria are efficient given prices. |
| 主题 | Industrial Organization
|
| 关键词 | Markets
Other-regarding preferences
Self-interest
Welfare
|
| URL | https://cepr.org/publications/dp6842
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535678
|
推荐引用方式
GB/T 7714 |
Yves Zenou,Yan Song. DP6842 How Differences in Property Taxes within Cities Affect Urban Sprawl?. 2008.
|
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