Nature of human capital, technology and ownership of public goods

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Abstract

Besley and Ghatak (2001) show that a public good should be owned by the agent who values the public good the most – irrespective of technological factors. In this paper we relax their assumptions in a natural way by allowing the agents to be indispensable, and we show that the relative valuations are not the sole determinant of an optimal ownership structure but also the nature of human capital and technology matter.
Original languageEnglish
Article number4
Pages (from-to) 939–945
Number of pages7
JournalJournal of Public Economics
Volume96
Early online date23 Aug 2012
DOIs
Publication statusPublished - 2012

Keywords

  • property rights
  • public goods
  • indispensability
  • technology
  • joint ownership

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