Time Dynamics and Incomplete Information in the Private Provision of Public Goods
构建了一个不完全信息下公共物品供给的动态模型,发现有限人口中因贡献延迟导致无效率,无限人口中延迟消失但供给不足仍存,并讨论了政府干预的政策含义。
In this paper, a dynamic model of the provision of a public good with incomplete information is developed. For a finite population, in addition to the standard underprovision type of results, inefficiency occurs because of a delay in contributions. For an infinite population, although delay may disappear, underprovision remains so that equilibrium is still inefficient. Policy implications of these results are described, emphasis being put on possible government intervention with incomplete information. Copyright 1992 by University of Chicago Press.