Fundamental Nonconvexities in Arrovian Markets and a Coasian Solution to the Problem of Externalities
指出外部性导致阿罗市场失败的根本非凸性源于市场结构而非外部性本身，通过扩展公共品一般均衡模型并明确产权，证明非凸性并非根本，并定义了科斯均衡，证明了第一、第二福利定理，其中第一福利定理是科斯定理的一种形式。
D. Starrett [J. Econ. Theory4(1972), 180–199] argues that the presence of externalities implies fundamental nonconvexities which cause Arrow markets to fail. While this is true, we argue this failure is due to the structure of the Arrovian markets that Starrett uses, and not to the presence of externalities as such. We provide an extension of a general equilibrium public goods model in which property rights are explicitly treated. Nonconvexities are not fundamental in this framework. We define a notion of Coasian equilibrium for this economy, and show first and second welfare theorems. In this context, the first welfare theorem is a type of Coase theorem.Journal of Economic LiteratureClassification Numbers: D62, H41.