| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17926 |
| 来源ID | Working Paper 17926 |
| The Free Rider Problem: a Dynamic Analysis | |
| Marco Battaglini; Salvatore Nunnari; Thomas Palfrey | |
| 发表日期 | 2012-03-23 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | We present a dynamic model of free riding in which n infinitely lived agents choose between private consumption and contributions to a durable public good g. We characterize the set of continuous Markov equilibria in economies with reversibility, where investments can be positive or negative; and in economies with irreversibility, where investments are non negative and g can only be reduced by depreciation. With reversibility, there is a continuum of equilibrium steady states: the highest equilibrium steady state of g is increasing in n, and the lowest is decreasing. With irreversibility, the set of equilibrium steady states converges to a unique point as depreciation converges to zero: the highest steady state possible with reversibility. In both cases, the highest steady state converges to the efficient steady state as agents become increasingly patient. In economies with reversibility there are always non-monotonic equilibria in which g converges to the steady state with damped oscillations; and there can be equilibria with no stable steady state, but a unique persistent limit cycle. |
| 主题 | Microeconomics ; Welfare and Collective Choice ; Public Economics ; Public Goods |
| URL | https://www.nber.org/papers/w17926 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575604 |
| 推荐引用方式 GB/T 7714 | Marco Battaglini,Salvatore Nunnari,Thomas Palfrey. The Free Rider Problem: a Dynamic Analysis. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17926.pdf（517KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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