Abstract
This short note shows that models with an uncongestible or mildly congestible public good and a (non-atomic) continuum of consumers have an interesting but unfortunate property. Only an infinite level of public good provision in the continuum economy can be approximated by feasible public good levels in a sequence of economies with finite populations. We discuss the theoretical and practical problems this creates for familiar models that employ a continuum of consumers and a finite level of an uncongestible public good.
| Original language | English |
|---|---|
| Pages (from-to) | 388-396 |
| Number of pages | 9 |
| Journal | Journal of Urban Economics |
| Volume | 48 |
| Issue number | 3 |
| DOIs | |
| State | Published - Nov 2000 |