Battaglini, Marco; Nunnari, Salvatore; Palfrey, Thomas R. - In: American Economic Review 104 (2014) 9, pp. 2858-71
We study the Markov equilibria of a model of free riding in which n infinitely lived agents choose between private consumption and irreversible contributions to a durable public good. We show that the set of equilibrium steady states converges to a unique point as depreciation converges to zero....