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Private provision of public goods under price uncertainty

✍ Scribed by Mark Gradstein; Shmuel Nitzan; Steven Slutsky

Publisher: Springer
Year: 1993
Tongue: English
Weight: 848 KB
Volume: 10
Category: Article
ISSN: 0176-1714
DOI: 10.1007/bf00182512

No coin nor oath required. For personal study only.

✦ Synopsis

In this paper, price uncertainty is introduced into the model of voluntary provision of public goods. The analysis is carried out depending upon whether individuals make real or nominal contributions. We highlight the significant factors that determine the complex effects of changes in uncertainty on the level of provision, the level of welfare, and the gaps between equilibrium and optimal values of these variables. In particular, we show that in some situations it would be desirable to introduce artificial randomness in prices in order to alleviate the free rider problem and to increase welfare.

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