Government versus private ownership of public goods: The role of bargaining frictions
研究了在公共产品提供中，政府与非政府组织谁应拥有项目所有权的问题。在不完全契约模型中，若事后谈判无摩擦，应由最看重公共产品的一方所有；但引入讨价还价摩擦后，最优所有权取决于技术因素和双方估值，缩小了公共产品与私人产品模型的差异。
The government and a non-governmental organization (NGO) can invest in the provision of a public good. Who should be the owner of the public project? In an incomplete contracting model in which ex post negotiations are without frictions, the party that values the public good most should be the owner, regardless of technological aspects. However, under the plausible assumption that there are bargaining frictions, the optimal ownership structure depends on technological aspects and on the parties' valuations. We show that the differences between incomplete contracting models with public goods and private goods are thus smaller than has previously been thought.