We provide a novel mechanism that delivers efficient provision of public goods in an economy that may display warm-glow preferences. No information about the fundamentals of the economy is required on the mechanism designer's side, so the mechanism is informationally decentralized. The mechanism...

We develop a model that incorporates salient features of growth in modern economies. We combine the expanding-variety growth model through horizontal innovations with a hierarchy of basic and applied research. The former extends the knowledge base, while the latter commercializes it. Two-way...