REVELATION OF PREFERENCE FOR A PUBLIC GOOD WITH IMPERFECT EXCLUSION.

Authors :: Kamien, Morton I.
Schwartz, Nancy L.
Source :: Public Choice; Fall1970, Vol. 9, p19-30, 12p, 1 Graph
Publication Year :: 1970
Abstract: Offers a model in which a rational individual may be induced to reveal partially his preference for a public good, via the amount he is willing to bid for the right to consume it. Subjective probability distribution relating the amount the individual might bid for the good; Argument that the individual's decision regarding the size of his bid for the good is motivated by a desire to maximize expected utility; Application of the model.