Optimal ownership of public goods under asymmetric information
نویسندگان
چکیده
Consider two parties who can make non-contractible investments in the provision of a public good. Who should own physical assets needed to provide good? In literature it has been argued that party values good most be owner, regardless investment technologies. Yet, this result derived under assumption symmetric information. We show technology matters when negotiations over take place asymmetric If A better technology, ownership by optimal even B larger expected valuation
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ژورنال
عنوان ژورنال: Journal of Public Economics
سال: 2021
ISSN: ['0047-2727', '1879-2316']
DOI: https://doi.org/10.1016/j.jpubeco.2021.104424