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Dynamic Voluntary Provision of Public Goods: A Generalization

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  • KENJI FUJIWARA
  • NORIMICHI MATSUEDA

Abstract

In this note we examine if the proposition offered by Fershtman and Nitzan (1991) and Wirl (1996) in the context of a dynamic voluntary provision model with a linear production function can be generalized to a more general CES formulation. By comparing the steady‐state stocks of a public good in open‐loop and feedback Nash equilibria with that under the cooperative solution, we demonstrate that their ranking among the steady‐state stocks is indeed preserved under the CES framework.

Suggested Citation

  • Kenji Fujiwara & Norimichi Matsueda, 2009. "Dynamic Voluntary Provision of Public Goods: A Generalization," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 11(1), pages 27-36, February.
    • Handle: RePEc:bla:jpbect:v:11:y:2009:i:1:p:27-36
    DOI: 10.1111/j.1467-9779.2008.01395.x
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    References listed on IDEAS

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    1. Wirl, Franz, 2007. "Do multiple Nash equilibria in Markov strategies mitigate the tragedy of the commons?," Journal of Economic Dynamics and Control, Elsevier, vol. 31(11), pages 3723-3740, November.
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    5. Javier Frutos & Guiomar Martín-Herrán, 2018. "Selection of a Markov Perfect Nash Equilibrium in a Class of Differential Games," Dynamic Games and Applications, Springer, vol. 8(3), pages 620-636, September.

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