MODELS WITH TWO OR MORE PUBLIC GOODS

Richard Cornes and Jun-ichi Itaya ()

No 896, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: We extend the simple model of voluntary public good provision to allow for two or more public goods, and explore the new possibilities that arise in this setting. We show that, when there are many public goods, voluntary contribution equilibrium typically generates, not only too low a level of public good provision, but also the wrong mix of public goods. We also analyse the neutrality property in the more general setting, and extend a neutrality proposition of Bergstrom, Blume and Varian (1986). The first author would like to thank Professor Peter Bardsley and the Economic Theory Centre, University of Melbourne, for providing a very congenial period as a visitor, during which this paper was completed.

Keywords: Public goods; Neutrality; Constrained Pareto efficiency (search for similar items in EconPapers)
JEL-codes: D61 H41 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2004
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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