Public-Good Provision with Many Participants.
For a nonexcludable public good with benefit and cost functions independent of the number of participants, this paper studies second-best allocations under Bayesian interim incentive compatibility and interim individual rationality. As the number of participants becomes large, second-best provision...
| Publicado en: | Review of Economic Studies Vol. 70; no. 3; pp. 589 - 615 |
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| Formato: | Artículo |
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Oxford University Press / UK
July 2003
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=513141161&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 513141161 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00346527 REM jtl: Review of Economic Studies issn: 00346527 maglogo: N pubinfo: dt: July 2003 vid: 70 iid: 3 pid: 622 pub: Oxford University Press / UK artinfo: ui: 513141161 10.1111/1467-937X.00257 ppf: 589 ppct: 26 formats: tig: atl: Public-Good Provision with Many Participants. aug: au: Hellwig, Martin F. su: Mathematical models of consumption Public goods Bayesian analysis Resource allocation -- Mathematical models sug: subj: Mathematical models of consumption Public goods Bayesian analysis Resource allocation -- Mathematical models ab: For a nonexcludable public good with benefit and cost functions independent of the number of participants, this paper studies second-best allocations under Bayesian interim incentive compatibility and interim individual rationality. As the number of participants becomes large, second-best provision levels converge in distribution to first-best levels if the latter are bounded. Second-best provision levels become large in absolute terms but small relative to first-best levels if benefit and cost functions are isoelastic. In contrast, for an excludable public good, the ratio of second-best to first-best levels is bounded away from zero. Reprinted by permission of the publisher. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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