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Lecture Notes for ECON 681 - Public Finance II at Yale (Yale)

Notes Information

Material Type:Class Note
Professor:Staff
Class:ECON 681 - Public Finance II
Subject:Economics
University:Yale University
Term:Spring 2002
Keywords:
  • Public Good
  • Private Good
  • Private Information
  • Provided That
  • Democratic Government
  • Immediately
  • Private Goods
  • Important Problem
  • Assumptions
  • Public Goods
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Sample Document Text

Lectures Notes on Public Goods Hanming Fang January 14, 2002 Contents 1 Introduction 2 1.1 WhatisPublicGoods?.............................. 2 1.2 TheModel .................................... 2 1.3 OptimalProvisionofPurePublicGood .................... 3 2 Can the Optimal Allocation be Decentralized? 7 3 Lindahl Equilibria 9 3.1 IsLindahlEquilibriumaReasonableMarketMechanism? .......... 11 4 Positive Models of Private Provision of Public Goods 14 4.1 AStaticModelofPrivateContributions.................... 14 4.1.1 Notations................................. 15 4.1.2 NashEquilibrium............................. 15 4.1.3 ANeutralityTheorem.......................... 16 4.1.4 A General Characterization of the Set of Nash Equilibria . . . . . . 17 4.1.5 Comparative Statics Regarding Changes in the Wealth Distribution 21 4.1.6 DoesPublicProvisionCrowdOutPrivateProvision?......... 22 4.1.7 GuidetotheRecentLiterature..................... 23 4.1.8 Morgan(ReStud2000).......................... 26 4.2 D...

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