8. Public Goods - UCSB's Department of Economics
8. Public Goods Economics 176 Public Goods The VCM Comparative Statics Explaining Cooperation Mechanisms for Cooperation Public Goods What is a public good? Three components: 1 Jointly provided 2 Non-excludable 3 Non-rivalrous Classic prediction? Free riding and underprovision! Multi-agent situation where e ciency and individual rationality are ... ................
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