Ioannis Karatzas, Department of Mathematics, Columbia University, MailCode 4438, New York, NY 10027 (firstname.lastname@example.org) and INTECH Investment Management, One Palmer Square, Suite 441, Princeton, NJ 08542 (email@example.com). Martin Shubik, Cowles Foundation for Research in Economics, Yale University, 30 Hillhouse Avenue, New Haven, CT 06520 (firstname.lastname@example.org). William D. Sudderth, School of Statistics, 313 Ford Hall, University of Minnesota, Minneapolis, MN 55455 (email@example.com).
Financial Control of a Competitive Economy with Public Goods but Without Randomness
Article first published online: 18 JUL 2011
© 2011 Wiley Periodicals, Inc.
Journal of Public Economic Theory
Volume 13, Issue 4, pages 503–537, August 2011
How to Cite
KARATZAS, I., SHUBIK, M. and SUDDERTH, W. D. (2011), Financial Control of a Competitive Economy with Public Goods but Without Randomness. Journal of Public Economic Theory, 13: 503–537. doi: 10.1111/j.1467-9779.2011.01511.x
- Issue published online: 18 JUL 2011
- Article first published online: 18 JUL 2011
- Received December 23, 2008; Accepted February 2, 2010.
The monetary and fiscal control of a simple economy without outside randomness is studied here from the microeconomic basis of a strategic market game. The government’s bureaucracy is treated as a public good that provides services at a cost. A conventional public good is also considered.