Nature of human capital, technology and ownership of public goods

Maija K Halonen-Akatwijuka

doi:10.1016/j.jpubeco.2012.07.005

Nature of human capital, technology and ownership of public goods

Maija K Halonen-Akatwijuka

Research output: Contribution to journal › Article (Academic Journal) › peer-review

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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 language	English
Article number	4
Pages (from-to)	939–945
Number of pages	7
Journal	Journal of Public Economics
Volume	96
Early online date	23 Aug 2012
DOIs	https://doi.org/10.1016/j.jpubeco.2012.07.005
Publication status	Published - 2012

Keywords

property rights
public goods
indispensability
technology
joint ownership

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10.1016/j.jpubeco.2012.07.005

Accepted manuscript
“NOTICE: this is the author’s version of a work that was accepted for publication in Journal of Public Economics. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of Public Economics, [VOL 96, ISSUE 11-12, December 2012] DOI 10.1016/j.jpubeco.2012.07.005
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Cite this

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AB - 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.

KW - property rights

KW - public goods

KW - indispensability

KW - technology

KW - joint ownership

U2 - 10.1016/j.jpubeco.2012.07.005

DO - 10.1016/j.jpubeco.2012.07.005

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JO - Journal of Public Economics

JF - Journal of Public Economics

SN - 0047-2727

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Nature of human capital, technology and ownership of public goods

Abstract

Keywords

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