## The Theory of Externalities, Public Goods, and Club GoodsThis book presents a theoretical treatment of externalities (i.e. uncompensated interdependencies), public goods, and club goods. The new edition updates and expands the discussion of externalities and their implications, coverage of asymmetric information, underlying game-theoretic formulations, and intuitive and graphical presentations. Aimed at well-prepared undergraduates and graduate students making a serious foray into this branch of economics, the analysis should also interest professional economists wishing to survey recent advancements in the field. No other single source for the range of materials explored is currently available. |

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### Contents

Views on market intervention | 3 |

Equilibrium concepts in public economics | 17 |

Theory of externalities | 39 |

Externalities equilibrium and optimality | 68 |

output than under nonuniform taxes | 78 |

exchange economy | 83 |

Externalities and private information | 102 |

allocations | 125 |

Game theory and public goods | 300 |

Departures from NashCournot behavior | 327 |

linear preferences | 332 |

Homogeneous clubs and local public goods | 347 |

public goods | 363 |

Clubs in general | 370 |

Institutional forms and clubs | 394 |

Game theory and club goods | 415 |

NashCournot equilibria | 143 |

economy | 154 |

Alternative mechanisms for provision of public goods | 198 |

person economy | 207 |

Lindahls scheme | 218 |

Public goods in general | 240 |

informed monopolist | 245 |

good model | 258 |

optimal allocation | 271 |

Uncertainty and the theory of clubs | 435 |

Intergenerational clubs | 461 |

Empirical estimation and public goods | 483 |

Applications and empirics | 506 |

Conclusions and directions for future research | 536 |

553 | |

581 | |

587 | |

### Other editions - View all

The Theory of Externalities, Public Goods, and Club Goods Richard Cornes,Todd Sandler No preview available - 1996 |

The Theory of Externalities, Public Goods, and Club Goods Richard Cornes,Todd Sandler No preview available - 1996 |

The Theory of Externalities, Public Goods, and Club Goods Richard Cornes,Todd Sandler No preview available - 1996 |

### Common terms and phrases

agent allocation alternative analysis associated assumption behavior budget constraint Chapter characteristic choice choose club theory commodity comparative static congestion consider consumers consumption contribution core crowding demand functions denote economies of scope economy efficiency Emma equal equations example exogenous externalities facility Figure first-order conditions Frank game theory given high valuer homogeneous implies impure public incentive income increase indifference curves indirect utility function individual individual's intergenerational clubs involves Lindahl equilibrium low valuer marginal cost maximize mechanism mixed clubs multiproduct clubs Nash equilibrium number of clubs numeraire optimal optimum outcome parameters Pareto Pareto optimum Pareto-efficient Pareto-optimal payoffs Pigouvian taxes player population preferences problem production provision level public good model public good provision pure public quantity reaction curve requires resource responses result Sandier Scotchmer Section social welfare function strategy subgame perfect equilibrium Suppose tion toll Tschirhart unit variable visits zero