A model of private provision of a public good under conjectural variations is discussed and the rule for a symmetric consistent conjectures equilibrium (CCE) derived. It is shown that in a number of reasonable cases symmetric CCEs fail to exist in economies with identical individuals, while there may exist asymmetric ones. The relevance of these results for the use of the conjectural variations approach in public good theory is then discussed together with some suggestions for further research. © 1994.
Bordignon, M., A further look at consistent conjectures and private provision of public goods, <<RICERCHE ECONOMICHE>>, 1996; 48 (2): 109-121. [doi:10.1016/0035-5054(94)90002-7] [https://hdl.handle.net/10807/335479]
A further look at consistent conjectures and private provision of public goods
Bordignon, Massimo
1994
Abstract
A model of private provision of a public good under conjectural variations is discussed and the rule for a symmetric consistent conjectures equilibrium (CCE) derived. It is shown that in a number of reasonable cases symmetric CCEs fail to exist in economies with identical individuals, while there may exist asymmetric ones. The relevance of these results for the use of the conjectural variations approach in public good theory is then discussed together with some suggestions for further research. © 1994.
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