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We study the problem of locating two public Godds for a group of agents with single-peaked preferences over an interval.
Persistent link: https://www.econbiz.de/10005133102
In two related papers, Kanedo (1977, 1977a) has proved an equibalence theorem relating the set of ratio equilibria of a public goods economy to the core of a strong voting game. This paper extends in two ways Kaneko's analysis to economies with jurisdictions, each producing a spedific public good.
Persistent link: https://www.econbiz.de/10005634039
We examine the effect of introducing Knightian uncertainty into a simple model of public good provision. We find that uncertainty may reduce the free-rider problem if utility is concave in public goods or there are decreasing returns to scale in the production of public goods. It is possible...
Persistent link: https://www.econbiz.de/10005357555