A Test for Allocative Efficiency in the Local Public Sector
نویسنده
چکیده
This paper develops a test for Pareto-elliciency in the local public sector using the analytical result that aggregate property value is maximized at the public output level which satisfies the Samuelson condition for efficiency. By using cross-section data, it is possible to deduce whether a representative community provides its public goods in a property-value-maximizing (and hence efficient) fashion. The empirical results show no systematic tendency to either underor overprovide public goods in a sample of Massachusetts communities.
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