Sequential Provision Of Public Goods
I consider the private provision of public goods in two stage games. If the agent who likes the public good least contributes first, the amount of the public good supplied will be the same as in the Nash equilibrium. If the agent who likes the public good most contributes first, less of the public good may be supplied. Similar results hold if the first mover is uncertain of the tastes of the other agent. If the agents bid for the right to move first, the agent who values the public good least will win. If each agent chooses the rate at which he will subsidize the other agent's contributions, the subsidies that support the Lindahl allocation are the unique equilibrium outcome. I also describe two related subsidy-setting games that yield Lindahl allocations in $n$-person games with general utility functions.}
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|Date of creation:||1990|
|Date of revision:|
|Contact details of provider:|| Postal: UNIVERSITY OF MICHIGAN, DEPARTMENT OF ECONOMICS CENTER FOR RESEARCH ON ECONOMIC AND SOCIAL THEORY, ANN ARBOR MICHIGAN U.S.A.|
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- Danziger, Leif & Schnytzer, Adi, 1991. "Implementing the Lindahl voluntary-exchange mechanism," European Journal of Political Economy, Elsevier, vol. 7(1), pages 55-64, April.
- Theodore Groves & John Ledyard, 1976.
"Optimal Allocation of Public Goods: A Solution to the 'Free Rider Problem',"
144, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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- Lindbeck, Assar & Weibull, Jorgen W, 1988. "Altruism and Time Consistency: The Economics of Fait Accompli," Journal of Political Economy, University of Chicago Press, vol. 96(6), pages 1165-82, December.
- Guttman, Joel M, 1978. "Understanding Collective Action: Matching Behavior," American Economic Review, American Economic Association, vol. 68(2), pages 251-55, May.
- Theodore Groves, 1979. "Efficient Collective Choice when Compensation is Possible," Review of Economic Studies, Oxford University Press, vol. 46(2), pages 227-241.
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