Chapter 7: Public Goods PUBLIC GOODS
• wi:agenti’s endowment of private good and W = Xn i=1 wi is the total endowment of private good; and pub-lic good endowment is taken to be zero • Public good may be produced from the private good according to a production function f : R+ → R+ where f0 > 0andf00 < 0. That is, if z is the total units of private goods that are used as ................
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