We investigate the impact of various audit schemes on the future provision of public goods, when contributing less than the average of the group is sanctioned exogenously and the probability of an audit is unknown. We study how individuals update their beliefs about the probability of being...

In this paper, we propose a definition of Edgeworth equilibrium for a private ownership production economy with (possibly infinitely) many private goods and a finite number of pure public goods. We show that Edgeworth equilibria exist whatever be the dimension of the private goods space, and can...

Unlike partial equilibrium analysis which study the equilibrium of a particular market under the clause "ceteris paribus" that revenues and prices on the other markets stay approximately unaffected, the ambition of a general equilibrium model is to analyze the simultaneous equilibrium in all...

Democrats and liberals are generally understood to be more caring and kind than Republicans and conservatives; for example, even conservative author and media personality Ben Wattenberg has acknowledged that "the word ‘conservative’ conjures up images of the miserly Ebenezer Scrooge, while...

This paper compares three collective choice procedures for the provision of excludable public goods under incomplete information. One, serial cost sharing (SCS), is budget balanced, individually rational, anonymous, and strategy proof. The other two are "hybrid" procedures: voluntary cost...

A vast recent literature has stressed social fragmentation's negative impact on the provision of public goods. This is a key issue, given that public goods availability has been reckoned as crucial to economic development, while developing countries' societies often exhibit high degrees of...