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Dynamic Voluntary Provision of Public Goods and Optimal Steady-State Subsidies

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  • AKIHIKO YANASE

Abstract

This paper examines a differential game model of voluntary provision of a public good in which private agents' contributions accumulate over time and derives subsidy rules that achieve the socially efficient steady state. It is shown that the optimal subsidy rule is a simple one when agents use the open-loop strategy, while under Markovian strategies it intricately depends on the parameters of the economy. Copyright 2006 Blackwell Publishing Inc..

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  • Akihiko Yanase, 2006. "Dynamic Voluntary Provision of Public Goods and Optimal Steady-State Subsidies," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 8(1), pages 171-179, January.
  • Handle: RePEc:bla:jpbect:v:8:y:2006:i:1:p:171-179
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    1. Itaya, Jun-ichi & Dasgupta, Dipankar, 1995. "Dynamics, Consistent Conjectures, and Heterogeneous Agents in the Private Provision of Public Goods," Public Finance = Finances publiques, , vol. 50(3), pages 371-389.
    2. Fershtman, Chaim & Nitzan, Shmuel, 1991. "Dynamic voluntary provision of public goods," European Economic Review, Elsevier, vol. 35(5), pages 1057-1067, July.
    3. Itaya, Jun-ichi & Shimomura, Koji, 2001. "A dynamic conjectural variations model in the private provision of public goods: a differential game approach," Journal of Public Economics, Elsevier, vol. 81(1), pages 153-172, July.
    4. Cornes,Richard & Sandler,Todd, 1996. "The Theory of Externalities, Public Goods, and Club Goods," Cambridge Books, Cambridge University Press, number 9780521477185, March.
    5. Benchekroun, Hassan & van Long, Ngo, 1998. "Efficiency inducing taxation for polluting oligopolists," Journal of Public Economics, Elsevier, vol. 70(2), pages 325-342, November.
    6. Boadway, Robin & Pestieau, Pierre & Wildasin, David, 1989. "Tax-transfer policies and the voluntary provision of public goods," Journal of Public Economics, Elsevier, vol. 39(2), pages 157-176, July.
    7. Karp, Larry, 1992. "Efficiency Inducing Tax for a Common Property Oligopoly," Economic Journal, Royal Economic Society, vol. 102(411), pages 321-332, March.
    8. Dockner,Engelbert J. & Jorgensen,Steffen & Long,Ngo Van & Sorger,Gerhard, 2000. "Differential Games in Economics and Management Science," Cambridge Books, Cambridge University Press, number 9780521637329, March.
    9. Akihisa Shibata, 2002. "Strategic Interactions in a Growth Model with Infrastructure Capital," Metroeconomica, Wiley Blackwell, vol. 53(4), pages 434-460, November.
    10. Dockner, Engelbert J, 1992. "A Dynamic Theory of Conjectural Variations," Journal of Industrial Economics, Wiley Blackwell, vol. 40(4), pages 377-395, December.
    11. Wirl, Franz, 1996. "Dynamic voluntary provision of public goods: Extension to nonlinear strategies," European Journal of Political Economy, Elsevier, vol. 12(3), pages 555-560, November.
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    Cited by:

    1. Bård Harstad, 2016. "The Dynamics Of Climate Agreements," Journal of the European Economic Association, European Economic Association, vol. 14(3), pages 719-752, June.
    2. repec:eee:ecmode:v:68:y:2018:i:c:p:409-415 is not listed on IDEAS
    3. repec:eee:apmaco:v:270:y:2015:i:c:p:505-510 is not listed on IDEAS

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