Showing 1 - 10 of 56
Persistent link: https://www.econbiz.de/10000136430
In this paper we examine the potential of democratic constitutions for the provision of divisible public goods in a large economy. Our main insights are as follows: When aggregate shocks are absent, the combination of the following rules yields first-best allocations: a supermajority rule, equal...
Persistent link: https://www.econbiz.de/10003937264
Persistent link: https://www.econbiz.de/10003994131
Persistent link: https://www.econbiz.de/10003997630
Persistent link: https://www.econbiz.de/10003574435
Persistent link: https://www.econbiz.de/10003856996
Persistent link: https://www.econbiz.de/10008656730
Persistent link: https://www.econbiz.de/10009505803
Persistent link: https://www.econbiz.de/10011279677
We examine whether and how democratic procedures can achieve socially desirable public good provision in the presence of profound uncertainty about the benefits of public goods, i.e., when citizens are able to identify the distribution of benefits only if they aggregate their private...
Persistent link: https://www.econbiz.de/10011444451