Econometrica: May 1983, Volume 51, Issue 3
Efficient Exchange with a Variable Number of Consumers
https://doi.org/0012-9682(198305)51:3<575:EEWAVN>2.0.CO;2-5
p.
575-584
Urs Schweizer
The notion of a club efficient allocation, introduced in this paper, is shown to allow for a unifying treatment of rather disparate matters. The main result deals with the dual characterization of such allocations. The fundamental theorems of welfare economics, the limit theorem on the core, and a general version of a Henry George Theorem on the relationship between aggregate land rent and local public expenditures, all can be recovered as special cases of this paper's main result.Log In To View Full Content