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Biblioteca

25 de octubre 2016
Should the Government Provide Public Goods if it Cannot Commit?

I compare two different systems of provision of discrete public goods: a centralized system, ruled by a benevolent dictator who has limited commitment power; and an anarchic system, based on voluntary contributions, where there is no ruler. If the public good is binary, then the public good provision problem is merely an informational one. In this environment, I […]

09 de agosto 2016
Should the government provide public goods if it cannot commit?

I compare two different systems of provision of discrete public goods: a centralized system, ruled by a benevolent dictator who has limited commitment power; and an anarchic system, based on voluntary contributions, where there is no ruler. If the public good is binary, then the public good provision problem is merely an informational one. In […]

09 de agosto 2016
If we Confess our Sins

I consider the problem a social planner faces in constructing a criminal justice system which addresses two needs: to protect the innocent and to punish the guilty. I characterize the socially optimal criminal justice system under various assumptions with respect to the plannerís ability to commit. In the optimal system, before a criminal investigation is […]