The Theory of Externalities, Public Goods, and Club Goods

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Cambridge University Press, Jun 28, 1996 - Business & Economics - 590 pages
This book presents a theoretical treatment of externalities (i.e. uncompensated interdependencies), public goods, and club goods. The new edition updates and expands the discussion of externalities and their implications, coverage of asymmetric information, underlying game-theoretic formulations, and intuitive and graphical presentations. Aimed at well-prepared undergraduates and graduate students making a serious foray into this branch of economics, the analysis should also interest professional economists wishing to survey recent advancements in the field. No other single source for the range of materials explored is currently available.
 

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Contents

Theory of externalities
39
Externalities equilibrium and optimality
68
Externalities and private information
102
NashCournot equilibria
143
Alternative mechanisms for provision of public goods
198
Departures from NashCournot behavior
327
Homogeneous clubs and local public goods
347
Clubs in general
370
Uncertainty and the theory of clubs
435
Intergenerational clubs
461
Empirical estimation and public goods
483
Applications and empirics
506
Conclusions and directions for future research
536
References
553
Author index
581
Subject index
587

Institutional forms and clubs
394
Game theory and club goods
415

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