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- W3040879892 abstract "Abstract When should one pay the ferryman? When to pay for the delivery of a good, and how should one invest in a public good if there is a single transaction and institutions are costly? We show how to solve the hold-up problem. The idea is to appropriately split up the desired total contribution into several separate contributions that are made in sequence, with each party threatening to discontinue if others deviate. Our solution concept is based on subgame perfection, where players are either selfish and do not care about very small gains or are socially minded as long as there is no deviation." @default.
- W3040879892 created "2020-07-16" @default.
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- W3040879892 date "2020-09-01" @default.
- W3040879892 modified "2023-09-26" @default.
- W3040879892 title "Split it up to create incentives: Investment, public goods and crossing the river" @default.
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- W3040879892 doi "https://doi.org/10.1016/j.jet.2020.105092" @default.
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