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Privately provided public goods in a dynamic economy

  • Laura Marsiliani

    (Durham Business School)

  • Thomas I. Renstroem

    (Durham Business School)

Registered author(s):

    We show that when individuals can save (accumulate capital), they all eventually become public-good contributors. In steady state, larger economies have more contributors. If the public good is normal, then its quantity increases in population size in the open-loop equilibrium, but not necessarily in the feedback equilibrium. If both private and public goods are normal, then the open-loop equilibrium exhibits greater steady-state public provision than the feedback equilibrium. If private consumption is inferior the opposite is true. Interpreting individuals as countries, our findings suggest that all countries over time will become contributors toward a global public good.

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    File URL: http://dro.dur.ac.uk/10356
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    Paper provided by Durham University Business School in its series Working Papers with number 2010_02.

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    Date of creation: 01 Jan 2010
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    Handle: RePEc:dur:durham:2010_02
    Contact details of provider: Postal: Durham University Business School, Mill Hill Lane, Durham DH1 3LB, England
    Phone: +44 (0)191 334 5200
    Fax: +44 (0)191 334 5201
    Web page: http://www.dur.ac.uk/business
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    1. Andreoni, James, 1988. "Privately provided public goods in a large economy: The limits of altruism," Journal of Public Economics, Elsevier, vol. 35(1), pages 57-73, February.
    2. repec:cup:cbooks:9780521477185 is not listed on IDEAS
    3. Jun-ichi Itaya & Koji Shimomura, 1999. "A Dynamic Conjectural Variations Model in the Private Provision of Public Goods: a Differential Game Approach," Discussion Paper Series 104, Research Institute for Economics & Business Administration, Kobe University.
    4. Bergstrom, Theodore & Blume, Lawrence & Varian, Hal, 1986. "On the private provision of public goods," Journal of Public Economics, Elsevier, vol. 29(1), pages 25-49, February.
    5. Fershtman, C. & Nitzan, S., 1988. "Dynamic Voluntary Provision Of Public Goods," Papers 21-88, Tel Aviv.
    6. Glomm, Gerhard & Lagunoff, Roger, 1999. "A Dynamic Tiebout Theory of Voluntary vs. Involuntary Provision of Public Goods," Review of Economic Studies, Wiley Blackwell, vol. 66(3), pages 659-77, July.
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