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Dynamic Procedures and Incentives in Public Good Economies

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  • Chander, Parkash

Abstract

This paper considers economies involving one public good, one private good, and convex technology and proposes an informationally decentralized dynamic nontatonnement procedure that converges in general from the initial endowments to an allocation in the core. The procedure may be seen as enunciating a plausible method of cooperation among the agents for achieving an optimal provision of a public good and an equitable sharing of its cost. The viewpoint of noncooperative game theory is also considered and it is shown that there exists a trade-off between the requirements of local incentive compatibility and equitable cost sharing. Copyright 1993 by The Econometric Society.

Suggested Citation

  • Chander, Parkash, 1993. "Dynamic Procedures and Incentives in Public Good Economies," Econometrica, Econometric Society, vol. 61(6), pages 1341-1354, November.
    • Handle: RePEc:ecm:emetrp:v:61:y:1993:i:6:p:1341-54
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    Citations

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    Cited by:

    1. Eduardo Ley, 1996. "On the private provision of public goods: a diagrammatic exposition," Investigaciones Economicas, Fundación SEPI, vol. 20(1), pages 105-123, January.
    2. Parkash Chander & Henry Tulkens, 2006. "A Core-Theoretic Solution for the Design of Cooperative Agreements on Transfrontier Pollution," Springer Books, in: Parkash Chander & Jacques Drèze & C. Knox Lovell & Jack Mintz (ed.), Public goods, environmental externalities and fiscal competition, chapter 0, pages 176-193, Springer.
    3. Chander, Parkash & Thangavelu, Shandre M., 2004. "Technology adoption, education and immigration policy," Journal of Development Economics, Elsevier, vol. 75(1), pages 79-94, October.
    4. Charles Figuières & Magali Verdonck, 2003. "On the Core of an Economy with Multilateral and Multidimensional Environmental Externalities," Economics Bulletin, AccessEcon, vol. 3(3), pages 1-10.
    5. Parkash Chander, 2007. "The gamma-core and coalition formation," International Journal of Game Theory, Springer;Game Theory Society, vol. 35(4), pages 539-556, April.
    6. repec:ebl:ecbull:v:3:y:2003:i:3:p:1-10 is not listed on IDEAS
    7. Wolfgang Buchholz & Richard Cornes & Dirk Rübbelke, 2020. "Matching in the Kolm triangle: interiority and participation constraints of matching equilibria," Journal of Economic Studies, Emerald Group Publishing Limited, vol. 47(5), pages 1039-1050, April.
    8. Edna Tusak Loehman & Richard Kiser & Stephen J. Rassenti, 2014. "Cost Share Adjustment Processes for Cooperative Group Decisions About Shared Goods: A Design Approach," Group Decision and Negotiation, Springer, vol. 23(5), pages 1085-1126, September.
    9. Michela Chessa & Patrick Loiseau, 2018. "Incentivizing Efficiency in Local Public Good Games and Applications to the Quantification of Personal Data in Networks," GREDEG Working Papers 2018-02, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    10. de Trenqualye, Pierre, 1995. "Incentive compatibility without compensation," Economics Letters, Elsevier, vol. 47(1), pages 35-39, January.
    11. Chander, Parkash, 2017. "Subgame-perfect cooperative agreements in a dynamic game of climate change," Journal of Environmental Economics and Management, Elsevier, vol. 84(C), pages 173-188.
    12. Kimitoshi Sato, 2012. "Nonmyopia and incentives in the piecewise linearized MDP procedures with variable step-sizes," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 1(1), pages 1-23, December.

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