Weak Links, Good Shots and other PublicGood Games: Building on BBV
AbstractWe suggest an alternative way of analyzing the canonical Bergstrom-Blume-Varian model of non-cooperative voluntary contributions to a public good that avoids the proliferation of dimensions as the number of players is increased. We exploit this approach to analyze models in which the aggregate level of public good is determined as a more general social composition function of individual gifts â specifically, as a generalized CES form â rather than as an unweighted sum as well as the weakest-link and best-shot models suggested by Hirshleifer. In each case, we characterize the set of equilibria, in some cases establishing existence of a unique equilibrium as well as briefly pointing out some interesting comparative static properties. We also study the weakest-link and best-shot limits of the CES composition function and show how the former can be used for equilibrium selection and the latter to show that equilibria of some better-shot games are identical to those of the much simpler best-shot game.
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Bibliographic InfoPaper provided by Economics, The University of Manchester in its series The School of Economics Discussion Paper Series with number 0624.
Date of creation: 2006
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Other versions of this item:
- Cornes, Richard & Hartley, Roger, 2007. "Weak links, good shots and other public good games: Building on BBV," Journal of Public Economics, Elsevier, vol. 91(9), pages 1684-1707, September.
- Richard Cornes & Roger Hartley, . "Weak Links, Good Shots And Other Public Good Games: Building On Bbv," Discussion Papers 06/09, University of Nottingham, School of Economics.
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