Central Funding of Local Public Works
AbstractThis paper formalises a three-tier administrative hierarchy. A benevolent federal government must decide how to fund an indivisible local public work, planned to be undertaken by a single firm. But the federal government observes neither the cost nor the local benefit of the project. To obtain this information, he relies on the loval authority which gains from the effective realization of the project.
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Bibliographic InfoPaper provided by Toulouse - GREMAQ in its series Papers with number 99.513.
Length: 47 pages
Date of creation: 1999
Date of revision:
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ASYMETRIC INFORMATION ; PUBLIC GOODS ; SOCIAL CHOICE ; DECENTRALIZATION;
Find related papers by JEL classification:
- D6 - Microeconomics - - Welfare Economics
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- H4 - Public Economics - - Publicly Provided Goods
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