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Efficient mechanisms for multiple public goods

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  • Mutuswami, Suresh
  • Winter, Eyal

Abstract

We propose two sequential mechanisms for efficient production of public goods. Our analysis differs from the existing literature in allowing for the presence of multiple public goods and in also being “simple.” While both mechanisms ensure efficiency, the payoffs in the first mechanism are asymmetric, being sensitive to the order in which agents move. The second mechanism corrects for this through a two-stage game where the order of moves in the second stage are randomly determined. The payoffs from the second mechanism correspond to the Shapley value of a well-defined game which summarizes the production opportunities available to coalitions in the economy.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Public Economics.

Volume (Year): 88 (2004)
Issue (Month): 3-4 (March)
Pages: 629-644

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Handle: RePEc:eee:pubeco:v:88:y:2004:i:3-4:p:629-644

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Web page: http://www.elsevier.com/locate/inca/505578

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References

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  1. Mas-Colell, Andreu, 1980. "Efficiency and Decentralization in the Pure Theory of Public Goods," The Quarterly Journal of Economics, MIT Press, vol. 94(4), pages 625-41, June.
  2. Chander, P. & Tulkens, H., . "The core of an economy with multilateral environmental externalities," CORE Discussion Papers RP -1276, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Carraro, Carlo & Siniscalco, Domenico, 1993. "Strategies for the international protection of the environment," Journal of Public Economics, Elsevier, vol. 52(3), pages 309-328, October.
  4. Moore, John & Repullo, Rafael, 1988. "Subgame Perfect Implementation," Econometrica, Econometric Society, vol. 56(5), pages 1191-1220, September.
  5. Bag, Parimal Kanti & Winter, Eyal, 1999. "Simple Subscription Mechanisms for Excludable Public Goods," Journal of Economic Theory, Elsevier, vol. 87(1), pages 72-94, July.
  6. Bagnoli, Mark & Lipman, Barton L, 1989. "Provision of Public Goods: Fully Implementing the Core through Private Contributions," Review of Economic Studies, Wiley Blackwell, vol. 56(4), pages 583-601, October.
  7. Abreu, Dilip & Sen, Arunava, 1990. "Subgame perfect implementation: A necessary and almost sufficient condition," Journal of Economic Theory, Elsevier, vol. 50(2), pages 285-299, April.
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Cited by:
  1. Mealem, Yosef, 2010. "Efficient provision of a public project (almost) without knowing the cost-sharing rule," Economics Letters, Elsevier, vol. 107(2), pages 194-197, May.
  2. Nava Kahana & Yosef Mealem & Shmuel Nitzan, 2009. "The Efficient and Fair Approval of “Multiple-Cost-Single-Benefit” Projects Under Unilateral Information," Working Papers 2009-14, Bar-Ilan University, Department of Economics.
  3. Mealem, Yosef, 2011. "Implementation of individually rational social choice functions with guaranteed utilities," Economics Letters, Elsevier, vol. 112(2), pages 165-167, August.

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