Datta, Bipasa (contributor); Fraser, Clive D. (contributor) - 2006
quality.
By pricing in this way, the welfarist essentially operates a limited system of
random redistributive taxation. Only … the period i income of consumers, budget constraints of
a member in periods 1 and 2 are then, respectively:
M1 p1 = x1 …
and
M2 p2v2 = x2
The sequence of events is:
Period 1. The leader sets y, p1and p2. People then decide to join (or not …