Document Type

Technical Report


This paper is devoted to the study of nonconvex models of welfare economics with public goods and infinite-dimensional commodity spaces. Our main attention is paid to new extensions of the fundamental second welfare theorem to the models under consideration. Based on advanced tools of variational analysis and generalized differentiation, we establish appropriate approximate and exact versions of the extended second welfare theorem for Pareto, weak Pareto, and strong Pareto optimal allocations in both marginal price and decentralized price forms.

Number in Series



Applied Mathematics | Mathematics

AMS Subject Classification

90A14, 49J52


This research was partly supported by the US National Science Foundation under grant DMS-0603846 and by Australian Research Council under grant DP-12092508