Voluntary Participation in a Mechanism Implementing a Public Project
AbstractIn this study, a participation game in a mechanism to implement a public project is considered; in this game, agents decide simultaneously whether they will participate in the mechanism or not. We characterize the sets of participants at strict Nash equilibria, strong equilibria, and coalition-proof equilibria of the participation game. The three sets of equilibria are shown to coincide and exist. All the equilibrium allocations are Pareto efficient at any one of three notions of equilibria. However, if the public good can be provided in multiple units or if there are multiple projects, then these sets may fail to coincide.
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Bibliographic InfoPaper provided by Graduate School of Economics, Hitotsubashi University in its series Discussion Papers with number 2004-14.
Length: 27 p.
Date of creation: Mar 2005
Date of revision:
Participation game; Public project; Strong equilibrium; Coalition-proof equilibrium; Multi-unit public good; Multiple projects;
Find related papers by JEL classification:
- C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
- H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
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