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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- Groves, Theodore & Ledyard, John O, 1977.
"Optimal Allocation of Public Goods: A Solution to the "Free Rider" Problem,"
Econometric Society, vol. 45(4), pages 783-809, May.
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"Competitive Bargaining Equilibria,"
Cahiers de la Maison des Sciences Economiques
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- Julio Dávila & Jan Eeckhout, 2004. "Competitive Bargaining Equilibrium," PIER Working Paper Archive 04-024, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
- DAVILA, Julio & EECKHOUT, Jan, . "Competitive bargaining equilibrium," CORE Discussion Papers RP -2069, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Harrington, Joseph Jr., 1989. "The advantageous nature of risk aversion in a three-player bargaining game where acceptance of a proposal requires a simple majority," Economics Letters, Elsevier, vol. 30(3), pages 195-200, September.
- Rubinstein, Ariel, 1982.
"Perfect Equilibrium in a Bargaining Model,"
Econometric Society, vol. 50(1), pages 97-109, January.
- 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.
- 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 139-76.
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