Dynamic provision of public goods under uncertainty
Dynamic provision of public goods under uncertainty
复制标题
不确定性下公共产品的动态供给
DOI：
10.1016/j.econmod.2017.08.008
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发表时间：
2018
影响因子：
4.7
通讯作者：
Tamai Toshiki
中科院分区：
文献类型：
--
作者：
Kamiguchi Akira;Tamai Toshiki;Tamai Toshiki
本文利用一个带有随机扰动的一般动态均衡模型研究了不确定性条件下公共物品的私人供给问题。特别是，该模型将收入冲击的维纳过程的平均值为零和标准差的统一作为不确定性。我们分析了不确定性和人口规模如何影响公共产品的供给。动态分析显示了对风险的态度的重要性，以及对不确定性和人口规模增加的短期和长期反应之间的对比。结果表明，在特定的条件下，不断升级的不确定性减少了长期的贡献，通过随机积累的资本，但它提高了短期的贡献。当种群数量增加到一定水平时，平均贡献增加到一个正的有限值，但如果种群数量是无限大，平均贡献则下降到零。这些双重结果是基于规避风险的个人应对高风险的动态行为。
This study investigates the private provision of public goods under uncertainty using a general dynamic equilibrium model with stochastic disturbances. In particular, the model incorporates income shocks governed by a Wiener process with a mean of zero and standard deviation of unity as uncertainty. We analyze how uncertainty and population size affect the supply of public goods. Dynamic analysis shows the importance of attitude toward risk and a contrast between short-run and long-run responses to increases in uncertainty and population size. Results show that under specified conditions, escalating uncertainty reduces the long-run contributions to public goods through the stochastic accumulation of capital but it raises short-run contributions. The average contribution increases to a positive finite value by increasing the population to a certain level, but it declines toward zero if the population size is infinite. These twin results are based on the dynamic behaviors of risk-averse individuals responding to elevated risks.