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Production Targets and Free Disposal in the Private Provision of Public Goods.

Abstract:

In a collective-action game a player's payoff is the sum of (i) a private component that depends only on that player's action, and (ii) a public component, common to all players and dependent upon all actions. A classic application is the private provision of a public good. Play evolves: strategy revisions are made according to a multinomial-logit choice rule. Long-run behaviour is determined by a potential function, which incorporates the private (not social) benefits of activity. Behaviour ...

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Publisher:
Department of Economics (University of Oxford)
Series:
Discussion Papers
Publication date:
2005-01-01
Language:
English
UUID:
uuid:38cf5c05-4dc9-4d57-9e97-1bfceafab889
Local pid:
ora:1270
Deposit date:
2011-08-16

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