Article thumbnail

Should We Expect Government Policy to Be Pareto Efficient?: The Consequences of an Arrow-Debreu Economy with Violable Property Rights

By David S. Bullock


To address the question, "Should we expect government policy to be efficient?" at its roots, I modify the well-known Arrow-Debreu private ownership economy, allowing property rights to be violable. The result is that equilibria tend to be Pareto inefficient.Pareto efficiency, property rights, Research Methods/ Statistical Methods, D72, D78,

OAI identifier:
Downloaded from

To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.

Suggested articles


  1. A Quantitative Investigation of Political Economy: The Israeli Dairy Program.”
  2. (1983). A Theory of Competition Among Pressure Groups for Political Influence,”
  3. Are Government Transfers Efficient? An Alternative Test of the Efficient Redistribution Hypothesis."
  4. (1985). Back to the Bog,” Pub.
  5. (1980). Efficient Rent-seeking,” in Toward a Theory of the Rent-seeking Society.
  6. Estimation of Price Policies in Senegal: An Empirical Test of Cooperative Game Theory.”
  7. In Search of Rational Government: What Political Preference Function Studies Measure and Assume."
  8. (2003). Judging Agricultural Policies: A Survey.” Agricultural Economics 28(May
  9. (1984). Long-run Equilibrium and Total Expenditures in Rent-seeking:
  10. (1985). Public policies, pressure groups, and deadweight costs,”
  11. (1967). Public Policy and Constitutional Prescription.”
  12. (2001). Special Interest Politics.
  13. (1999). Testing the Efficient Redistribution Hypothesis: An Application to Japanese Beef Policy.”
  14. The Incorporation and Measurement of Social Power