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Delay in joint projects
[Verzögerung bei gemeinsamen Projekten]

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  • Kessing, Sebastian Georg

Abstract

If a public project is financed through private contributions with convex costs, project completion may be delayed. The paper examines how asymmetries, the order of moves, and the absence of commitment will affect the completion time. All three factors are shown to cause delay, although for different reasons. Without commitment, individual contributions are strategic complements in the completing Markov perfect equilibrium, such that partial harmonization of strategies is beneficial for all.

Suggested Citation

  • Kessing, Sebastian Georg, 2003. "Delay in joint projects
    [Verzögerung bei gemeinsamen Projekten]    ," Discussion Papers, Research Unit: Market Processes and Governance SP II 2003-15, Social Science Research Center Berlin (WZB).
    • Handle: RePEc:zbw:wzbmpg:spii200315
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    References listed on IDEAS

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    1. (*), Kai A. Konrad & Wolfgang Buchholz & Kjell Erik Lommerud, 1997. "Stackelberg leadership and transfers in private provision of public goods," Review of Economic Design, Springer;Society for Economic Design, vol. 3(1), pages 29-43.
    2. Leslie M. Marx & Steven A. Matthews, 2000. "Dynamic Voluntary Contribution to a Public Project," Review of Economic Studies, Oxford University Press, vol. 67(2), pages 327-358.
    3. Joseph Farrell & Garth Saloner, 1988. "Coordination through Committees and Markets," RAND Journal of Economics, The RAND Corporation, vol. 19(2), pages 235-252, Summer.
    4. 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.
    5. Gaudet, Gerard & Salant, Stephen W, 1991. "Increasing the Profits of a Subset of Firms in Oligopoly Models with Strategic Substitutes," American Economic Review, American Economic Association, vol. 81(3), pages 658-665, June.
    6. Gradstein, Mark, 1992. "Time Dynamics and Incomplete Information in the Private Provision of Public Goods," Journal of Political Economy, University of Chicago Press, vol. 100(3), pages 581-597, June.
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    1. repec:eee:pubeco:v:152:y:2017:i:c:p:1-12 is not listed on IDEAS

    More about this item

    Keywords

    Delay; private provision; public project;

    JEL classification:

    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods

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