The provision of public goods via advertising. Existence of equilibria and welfare analysis

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Abstract

This paper considers an economy where a public good is provided via advertising. The consumers' preferences are represented using the 'characteristics' approach', and the advertising has a potentially enhancing effect on the characteristics' content of a given commodity. We define competitive equilibria and show they exist. The welfare properties of the resulting allocations are analyzed, and conditions for over- and under-production of the public good are provided.

Original languageEnglish
Pages (from-to)309-321
Number of pages13
JournalJournal of Public Economics
Volume54
Issue number2
DOIs
StatePublished - 1 Jan 1994

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