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Incomplete contracts and excludable public goods

Bierbrauer, Felix J. - In: Journal of Public Economics 95 (2011) 7, pp. 553-569

We study whether a firm that produces and sells access to an excludable public good should face a self-financing requirement, or, alternatively, receive subsidies that help to cover the cost of public-goods provision. The main result is that the desirability of a self-financing requirement is...

Persistent link: https://www.econbiz.de/10010574307

Chapter 1 Contract Law

Hermalin, Benjamin E.; Katz, Avery W.; Craswell, Richard - In: Handbook of law and economics : volume 1, (pp. 3-138). 2007

This chapter surveys major issues arising in the economic analysis of contract law. It begins with an introductory discussion of scope and methodology, and then addresses four main topics that correspond to the major doctrinal divisions of the law of contracts. These divisions include freedom of...

Persistent link: https://www.econbiz.de/10014023515

Public goods and the hold-up problem under asymmetric information

Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2012

An agent can make an observable but non-contractible investment. A principal then offers to collaborate with the agent to provide a public good. Private information of the agent about his valuation may either decrease or increase his investment incentives, depending on whether he learns his type...

Persistent link: https://www.econbiz.de/10011084108

Public goods and the hold-up problem under asymmetric information

Schmitz, Patrick W. - In: Economics Letters 117 (2012) 3, pp. 642-645

Persistent link: https://www.econbiz.de/10010594093

A full characterization of all deterministic dominant strategy incentive compatible, ex-post individually rational, and ex-post budget balanced direct mechanisms in the public good...

Kuzmics, Christoph - 2014

In this note I give a full characterization of all deterministic direct mechanisms in the public good provision problem with independent private values that are dominant strategy incentive compatible, ex-post individually rational, and ex-post budget balanced.

Persistent link: https://www.econbiz.de/10010337703

The provision point mechanism with reward money

Zubrickas, Robertas - 2013

We introduce reward money into the provision point mechanism with refunds. Reward money is distributed among the … good induce sufficient contributions. Importantly, the mechanism not only ensures allocative efficiency but also … proportion of their private valuations. The advantages of the mechanism are also demonstrated for collective action problems …

Persistent link: https://www.econbiz.de/10009747301

Control rights in complex partnerships revisited

Takasago, Takao - In: Economics letters 183 (2019), pp. 1-4

Persistent link: https://www.econbiz.de/10012122600

Optimal ownership of public goods under asymmetric information

Schmitz, Patrick W. - 2021

Persistent link: https://www.econbiz.de/10012499103

Market Outcomes and Dynamic Patent Buyouts

Galasso, Alberto; Mitchell, Matthew; Virag, Gabor - C.E.P.R. Discussion Papers - 2014

Patents are a useful but imperfect reward for innovation. In sectors like pharmaceuticals, where monopoly distortions seem particularly severe, there is growing international political pressure to identify alternatives to patents that could lower prices. Innovation prizes and other non-patent...

Persistent link: https://www.econbiz.de/10011083542

Optimal mechanism design for the private supply of a public good

Csapó, Gergely; Müller, Rudolf - In: Games and Economic Behavior 80 (2013) C, pp. 229-242

We study the problem of finding the profit-maximizing mechanism for a monopolistic provider of a single, non … compatible, ex-post individual rational mechanism can be computed in polynomial time by reducing the problem to finding a maximal …

Persistent link: https://www.econbiz.de/10011049766

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