Bargaining over Public Goods
In a simple public good economy, we propose a natural bargaining procedure, the equilibria of which converge to Lindahl allocations as the cost of bargaining vanishes. The procedure splits the decision over the allocation in a decision about personalized prices and a decision about output levels for the public good. Since this procedure does not assume price-taking behavior, it provides a strategic foundation for the personalized taxes inherent in the Lindahl solution to the public goods problem. Copyright © 2009 Wiley Periodicals, Inc..
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Volume (Year): 11 (2009)
Issue (Month): 6 (December)
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References listed on IDEAS
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- Thomson, William, 1999. " Economies with Public Goods: An Elementary Geometric Exposition," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 1(1), pages 139-176.
- Banks, Jeffrey S. & Duggan, John, 1999. "A Bargaining Model of Collective Choice," Working Papers 1053, California Institute of Technology, Division of the Humanities and Social Sciences. Full references (including those not matched with items on IDEAS)
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