Dynamic Voluntary Provision of Public Goods and Optimal Steady‐State Subsidies

Akihiko Yanase ()

Journal of Public Economic Theory, 2006, vol. 8, issue 1, 171-179

Abstract: This paper examines a differential game model of voluntary provision of a public good in which private agents' contributions accumulate over time and derives subsidy rules that achieve the socially efficient steady state. It is shown that the optimal subsidy rule is a simple one when agents use the open‐loop strategy, while under Markovian strategies it intricately depends on the parameters of the economy.

Date: 2006
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https://doi.org/10.1111/j.1467-9779.2006.00258.x

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Persistent link: https://EconPapers.repec.org/RePEc:bla:jpbect:v:8:y:2006:i:1:p:171-179

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