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This paper analyzes the private provision of public goods where consumers interact within a fixed network structure and may benefit only from their direct neighbors' provisions. We present a proof of the existence and uniqueness of a Nash equilibrium for general networks and best-reply...
Persistent link: https://www.econbiz.de/10011263570
We model an economy with clubs (or jurisdictions) where individuals may belong to multiple clubs and where clubs sizes are arbitrary--clubs may be restricted to consist of only one or two persons, or as large as the entire economy, or anything in-between. Notions of price-taking equilibrium and...
Persistent link: https://www.econbiz.de/10005159950