Dynamic Voluntary Contribution to a Public Project

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Dynamic Voluntary Contribution to a Public Project

Author Info

Marx, Leslie M
Matthews, Steven A

Additional information is available for the following registered author(s):

Steven A. Matthews

Abstract

We consider the dynamic private provision of funds to projects that generate public benefits. Participants have complete information about the environment, but imperfect information about individual actions: each period they observe only the aggregate contribution. Each player may contribute any amount in any period before the contributing horizon is reached. All Nash equilibrium outcomes are characterized. In many cases they are all also perfect Bayesian equilibrium outcomes. If the horizon is long, if the players' preferences are similar, and if they are patient or the period length is short, perfect Bayesian equilibria exist that essentially complete the project. In some of them the completion time shrinks to zero with the period length--efficiency is achieved in the limit. Copyright 2000 by The Review of Economic Studies Limited

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Article provided by Blackwell Publishing in its journal Review of Economic Studies.

Volume (Year): 67 (2000)
Issue (Month): 2 (April)
Pages: 327-58
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Handle: RePEc:bla:restud:v:67:y:2000:i:2:p:327-58

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Paper
- Leslie M. Marx & Steven A. Matthews, . ""Dynamic Voluntary Contribution to a Public Project''," CARESS Working Papres 99-01, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences. [Downloadable!]
- Leslie M. Marx & Steven A. Matthews, 1997. "Dynamic Voluntary Contribution to a Public Project," Discussion Papers 1188, Northwestern University, Center for Mathematical Studies in Economics and Management Science. [Downloadable!]
- Leslie M. Marx & Steven A. Matthews, . "Dynamic Voluntary Contribution to a Public Project," Penn CARESS Working Papers 6f8dbf67d492ff8a10975496b, Penn Economics Department. [Downloadable!]

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

Fudenberg, Drew & Tirole, Jean, 1991. "Perfect Bayesian equilibrium and sequential equilibrium," Journal of Economic Theory, Elsevier, vol. 53(2), pages 236-260, April. [Downloadable!] (restricted)
Palfrey, Thomas R. & Rosenthal, Howard, 1984. "Participation and the provision of discrete public goods: a strategic analysis," Journal of Public Economics, Elsevier, vol. 24(2), pages 171-193, July. [Downloadable!] (restricted)
McMillan, John, 1979. "Individual incentives in the supply of public inputs," Journal of Public Economics, Elsevier, vol. 12(1), pages 87-98, August. [Downloadable!] (restricted)
Bernheim, B Douglas, 1986. "On the Voluntary and Involuntary Provision of Public Goods," American Economic Review, American Economic Association, vol. 76(4), pages 789-93, September. [Downloadable!] (restricted)
Hal R. Varian, 1994. "Sequential Provision of Public Goods," Public Economics 9401003, EconWPA. [Downloadable!]
Other versions:
- Varian, H.R., 1991. "Sequential Provision of Public Goods," Papers 14, Michigan - Center for Research on Economic & Social Theory.
- Varian, H.R., 1989. "Sequential Provision Of Public Goods," Papers 89-17, Michigan - Center for Research on Economic & Social Theory.
- Varian, H.R., 1990. "Sequential Provision Of Public Goods," Papers 90-02, Michigan - Center for Research on Economic & Social Theory.
Bliss, Christopher & Nalebuff, Barry, 1984. "Dragon-slaying and ballroom dancing: The private supply of a public good," Journal of Public Economics, Elsevier, vol. 25(1-2), pages 1-12, November. [Downloadable!] (restricted)
Wirl, Franz, 1996. "Dynamic voluntary provision of public goods: Extension to nonlinear strategies," European Journal of Political Economy, Elsevier, vol. 12(3), pages 555-560, November. [Downloadable!] (restricted)
Andreoni, James, 1988. "Privately provided public goods in a large economy: The limits of altruism," Journal of Public Economics, Elsevier, vol. 35(1), pages 57-73, February. [Downloadable!] (restricted)
Dorsey, Robert E, 1992. " The Voluntary Contributions Mechanism with Real Time Revisions," Public Choice, Springer, vol. 73(3), pages 261-82, April.
Gradstein, Mark, 1992. "Time Dynamics and Incomplete Information in the Private Provision of Public Goods," Journal of Political Economy, University of Chicago Press, vol. 100(3), pages 581-97, June. [Downloadable!] (restricted)
Bagnoli, Mark & Lipman, Barton L, 1989. "Provision of Public Goods: Fully Implementing the Core through Private Contributions," Review of Economic Studies, Blackwell Publishing, vol. 56(4), pages 583-601, October. [Downloadable!] (restricted)
Bergstrom, Theodore & Blume, Lawrence & Varian, Hal, 1986. "On the private provision of public goods," Journal of Public Economics, Elsevier, vol. 29(1), pages 25-49, February. [Downloadable!] (restricted)
Other versions:
- Ted Bergstrom & Larry Blume & Hal Varian, 1986. "On the Private Provision of Public Goods," University of California at Santa Barbara, Economics Working Paper Series 1986B, Department of Economics, UC Santa Barbara. [Downloadable!]
Admati, Anat R & Perry, Motty, 1991. "Joint Projects without Commitment," Review of Economic Studies, Blackwell Publishing, vol. 58(2), pages 259-76, April. [Downloadable!] (restricted)
Fershtman, Chaim & Nitzan, Shmuel, 1991. "Dynamic voluntary provision of public goods," European Economic Review, Elsevier, vol. 35(5), pages 1057-1067, July. [Downloadable!] (restricted)
Other versions:
- Fershtman, C. & Nitzan, S., 1988. "Dynamic Voluntary Provision Of Public Goods," Papers 21-88, Tel Aviv.

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