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Serial cost sharing of excludable public goods: general cost functions

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  • James A. Dearden

    (Department of Economics, 621 Taylor Street, Lehigh University, Bethlehem, PA 18015, USA)

Abstract

A group of individuals meet to share the cost and determine output allocations of a partial-excludable public good. We demonstrate that, for general cost functions and preferences that satisfy the Spence-Mirlees sorting condition, the serial cost-sharing formula (Moulin, 1994) has remarkable incentive properties. First, a direct economic mechanism that uses the serial formula is coalition strategy-proof, envy-free and satisfies the stand-alone property. Second, the serial mechanism involves partial exclusion, which is important for the reduction of the free-rider problem.

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Bibliographic Info

Article provided by Springer in its journal Economic Theory.

Volume (Year): 12 (1998)
Issue (Month): 1 ()
Pages: 189-198

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Handle: RePEc:spr:joecth:v:12:y:1998:i:1:p:189-198

Note: Received: June 10, 1996; revised version; February 11, 1997
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Cited by:
  1. Peter Norman, 2004. "Efficient Mechanisms for Public Goods with Use Exclusions," Review of Economic Studies, Wiley Blackwell, vol. 71(4), pages 1163-1188, October.
  2. MANIQUET, François & SPRUMONT, Yves, . "Sharing the cost of a public good: An incentive-constrained axiomatic approach," CORE Discussion Papers RP -2184, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  3. Martin F. Hellwig, 2003. "Public-Good Provision with Many Participants," Review of Economic Studies, Wiley Blackwell, vol. 70(3), pages 589-614, 07.

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