Dynamic processes for public goods : An institution-oriented survey

A nontechnical, but nevertheless not informal, account is given of dynamic models recently developed in the theory of public goods. After a purely descriptive presentation of three basic models (Section 2) and their many subsequent extensions (Section 3), various reflections are made in Section 4 on issues raised by an institutional perspective: first, the usual planning interpretation of such processes is presented and commented upon; next, contrasting normative and positive approaches to public goods, it is argued that one category of processes can be given an interpretation much in line with the literature on positive public economics. Third, the planning vs. voluntary exchange institutions are contrasted from the point of view of cooperation among the agents in an economy with public goods.(This abstract was borrowed from another version of this item.)