Free Riders do not Like Uncertainty
We examine the effect of Knightian uncertainty in a simple model of public good provision. We find that uncertainty may reduce free-riding if utility is concave or there are decreasing returns to scale in the production of public goods. Comparative statics analysis shows that increases in uncerainty will increase donations.
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|Date of creation:||1999|
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Web page: http://www.economics.bham.ac.uk
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