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- W1543208743 abstract "Standard economic analysis assumes the sets of public and private goods to be exogenously given. Yet societies very often choose the public-private mix, using resources to convert seemingly private goods into ones with public goods characteristics and vice versa. In practice, we see a bewilderingly large variety of public-private mixes across societies. This papers advances an analysis of the choice of the public-private mix in the framework of voluntary contributions to public goods provision, by envisaging that, starting from a situation where all goods have private characteristics, some goods can be changed to have public goods characteristics at a cost (by purchasing a Samuelson machine). It characterizes the jointly optimal choice of the public-private mix and the efficient supply or not of the public goods in the mix. This characterization generates a number of testable predictions on the public-private mix, and on the prevalence of free riding" @default.
- W1543208743 created "2016-06-24" @default.
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- W1543208743 date "2006-12-01" @default.
- W1543208743 modified "2023-09-23" @default.
- W1543208743 title "Samuelson machines and the optimal public-private mix" @default.
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- W1543208743 doi "https://doi.org/10.22004/ag.econ.127321" @default.
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