A challenging question in moral philosophy is how to gauge the achievement of equity between individuals when people differ in their preferences, and in particular where some people might have “expensive tastes”, in that the goods necessary to bring them to a certain level of welfare are...

Climate is a persistent asset, bar none: changes in climate-related stocks have consequences spanning over centuries or possibly millennia to the future. To reconcile the discounting of such far-distant impacts and realism of the shorter-term decisions, we consider hyperbolic time-preferences in...

Public-private partnerships (PPPs) involve the supply by the private sector of infrastructure and services deriving from infrastructure assets which have traditionally been supplied by the public sector. PPPs are spreading all over the world. It may be quite plausible that such arrangements were...

In this paper, we study optimal public good provision with congestion and user fees to exclude some agents under lump-sum tax/transfer, constrained by the condition of reduction of envy. We adopt the λ envy-free constraint proposed by Diamantaras and Thomson(1990), and employ the exclusion...

A mechanism taxes and finances a public good under the assumption that each agent has a classical concave utility function. In the large limit of the economy with respect to the population, this mechanism asymptotically satisfies dominant strategy implementability and budget balancedness, and...

We study strategy-proof probabilistic mechanisms in a binary excludable public good model. We construct a new class of probabilistic mechanisms satisfying strategy-proofness, called α-mechanisms.We first show that the α-mechanisms are second-best efficient. Next, we identify the optimal...

Mit Hilfe eines parametrischen Modells werden unter der Annahme einer endogenen Qualitaet und einer monopolistischen Marktstruktur verschiedene Allokationsmechanismen oeffentlicher Gueter fuer den Spezialfall eines Rundfunkprogramms analysiert. Dabei zeigt sich die Ueberlegenheit eines...

This paper studies the possibility of secure implementation (Saijo, T., T. Sjöström, and T. Yamato (2007) "Secure Implementation," Theoretical Economics 2, pp. 203-229) in divisible and non-excludable public good economies with quasi-linear utility functions. Although Saijo, Sjöström, and...