The Private Provision of Public Goods under Uncertainty: A Symmetric-Equilibrium Approach
AbstractVarious studies have examined whether increased uncertainty about the non-Nash response of others to an individual's voluntary contribution to a public good affects that individual's contribution so as to mitigate the free-rider problem. We extend this single-agent approach to the analysis of a symmetric equilibrium. We provide conditions on group size and endogenous relative risk aversion that imply increased equilibrium contributions in response to greater uncertainty about the productivity of each individual's contribution to the actual level of the public good. These results enable us to broaden the circumstances in which the theory predicts that increased uncertainty reduces free riding. Copyright 2006 Blackwell Publishing, Inc..
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Bibliographic InfoArticle provided by Association for Public Economic Theory in its journal Journal of Public Economic Theory.
Volume (Year): 8 (2006)
Issue (Month): 5 (December)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=1097-3923
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- Nocetti, Diego & Napp, Clotilde & Jouini, Elyès, 2012. "Economic Consequences of Nth-Degree Risk Increases and Nth-Degree Risk Attitudes," Economics Papers from University Paris Dauphine 123456789/11094, Paris Dauphine University.
- repec:ner:dauphi:urn:hdl:123456789/11094 is not listed on IDEAS
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