Delay in joint projects

Verzögerung bei gemeinsamen Projekten

Sebastian Kessing

Discussion Papers, Research Unit: Market Processes and Governance from WZB Berlin Social Science Center

Abstract: If a public project is financed through private contributions with convex costs, project completion may be delayed. The paper examines how asymmetries, the order of moves, and the absence of commitment will affect the completion time. All three factors are shown to cause delay, although for different reasons. Without commitment, individual contributions are strategic complements in the completing Markov perfect equilibrium, such that partial harmonization of strategies is beneficial for all.

Keywords: Delay; private provision; public project (search for similar items in EconPapers)
JEL-codes: H41 (search for similar items in EconPapers)
Date: 2003
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/51097/1/37652331X.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zbw:wzbmpg:spii200315

Access Statistics for this paper

More papers in Discussion Papers, Research Unit: Market Processes and Governance from WZB Berlin Social Science Center Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().