LESON7A

LESON7A - Public provision of private goods. 0 price tends...

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Econ 275 - Public Finance - Fall 1992 - 9/22/92 - Lesson #7 - leson7a.275-- Page -- Stiglitz Ch 6 - Public Choice. Get comments about Political Science Median Voter Theory quite powerful. Develop an example around Stiglitz p 156 on the predictions for tax reform. Use of efficiency conditions for public goods serves as a benchmark. I need to do some introduction on utility and indifference curves. I probably ought to spend two lectures on this topic and skip chapter 7. Admin Put up outline ODE announcements Library said the study guide book is available. Paper due Thursday. Test a week from Thursday, Oct 1. Finish Ch 5 (Public goods) Efficiency conditions for public goods. Private goods sum horizontal: Get example Public good sum vertical: Get example Efficiency is the intersection of the aggregate demand and the supply curve
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Unformatted text preview: Public provision of private goods. 0 price tends to lead to overconsumption; it costs more to produce a good than the value consumers place on it. Ex: Medical care. Start Ch 6 (Public choice) Issues How do democracies work. Can we examine them analytically. How will the mechanism work as compared to the market mechanism? Individual preferences between public and private goods. Different from Stiglitz presentation. Do with indifference curves Budget constraint, tax price Indifference curves Econ 275 - Public Finance - Fall 1992 - 9/22/92 - Lesson #7 - leson7a.275-- Page --Demand curves Differences between rich and poor--Higher incomes tend to lead to higher demand for public goods. Set up need for voting mechanisms. What will be the result from voting. Median Voter Theorem. The voting paradox...
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This note was uploaded on 07/08/2010 for the course ECON 275 taught by Professor Mcintyre during the Winter '05 term at BYU.

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LESON7A - Public provision of private goods. 0 price tends...

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