Green Markets and Private Provision of Public Goods
AbstractThis paper develops a general model of private provision of a public good that includes the option to consume an impure public good. The model is used to investigate the positive and normative consequences of "green markets," which are based on technologies with joint production of a private good and an environmental public good. It is shown that under reasonable conditions green markets can have beneficial or detrimental effects on environmental quality and social welfare. The analysis applies equally to nonenvironmental choice settings, with examples ranging from socially responsible investments to commercial activities associated with charitable fund-raising.
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Bibliographic InfoArticle provided by University of Chicago Press in its journal Journal of Political Economy.
Volume (Year): 114 (2006)
Issue (Month): 4 (August)
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Web page: http://www.journals.uchicago.edu/JPE/
Other versions of this item:
- Matthew J. Kotchen, 2003. "Green Markets and Private Provision of Public Goods," Department of Economics Working Papers 2003-05, Department of Economics, Williams College.
- D6 - Microeconomics - - Welfare Economics
- H4 - Public Economics - - Publicly Provided Goods
- Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
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- 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.
- David C. Ribar & Mark O. Wilhelm, 2002.
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- Cornes,Richard & Sandler,Todd, 1996. "The Theory of Externalities, Public Goods, and Club Goods," Cambridge Books, Cambridge University Press, number 9780521477185.
- Cornes, Richard & Sandler, Todd, 1994. "The comparative static properties of the impure public good model," Journal of Public Economics, Elsevier, vol. 54(3), pages 403-421, July.
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