LESON9A

LESON9A - Econ 275 Public Finance Fall 1992 Lesson#9...

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Econ 275 - Public Finance - Fall 1992 - 9/29/92 - Lesson #9 - leson9a.275-- Page -- Admin: Ask for questions for Gov. Andrus. Test on Thursday Typo on page 221, should be Pigouvian Taxes (pigouvian is missing). Handout review sheet Review Wed 9/30 4-5 pm 486 TNRB Ch 6 Finish Median Voter Theorem. Product differentiation--the boardwalk model. Stiglitz ties this to the median voter since in equilibrium both parties will be in the middle--at the median voter's preferences. Arrow's Impossibility Theorem Lindahl equilibrium--Auctioneer who asks for everyone's tax price for given levels of public goods. What bureaucrats maximize. Ch 8 (Externalities) Definition Positive and Negative Consumption and Production Consequences Overproduction (consumption) of goods with negative externalities. Vice versa for goods with positive externalities Example: Overfishing of common fishing ground Private Solutions: Coase theorem. Financial incentive to account for (production) externality Social Sanctions--golden rule
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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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LESON9A - Econ 275 Public Finance Fall 1992 Lesson#9...

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