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An Experimental Comparison of Three Public Good Decision Mechanisms

In: Measurement in Public Choice

Author

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  • Vernon L. Smith

    (University of Arizona)

Abstract

Three public good mechanisms, all sharing the characteristics of collective excludability, unanimity and budget balance, are compared: The mechanisms differ in ways that are hypothesized to effect free-riding behavior with the Auction mechanism expected to show the least, and the Free-Rider and Quasi Free-Rider mechanisms showing the greatest such behavior. All three mechanisms yield mean quantities of a public good that are significantly greater than the free-rider quantity. However, the Auction mechanism provides a mean quantity of the public good which is significantly larger than that of the other two procedures, and closer to the Lindahl optimal quantity.

Suggested Citation

  • Vernon L. Smith, 1981. "An Experimental Comparison of Three Public Good Decision Mechanisms," Palgrave Macmillan Books, in: Steinar Strøm (ed.), Measurement in Public Choice, pages 57-74, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-05090-1_5
    DOI: 10.1007/978-1-349-05090-1_5
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