A Network Approach to Public Goods
Bibliographic Data
| ID | 10172012 |
|---|---|
| Authors | Matthew Elliott (0000-0002-7092-2161, University of Cambridge), Benjamin Golub (0009-0002-6743-8018, Harvard University Press) |
| Year | 2018 |
| Volume | 127 |
| Issue | 2 |
| Pages | 730-776 |
| Publication date | 2018-10-03 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/701032 |
| OpenAlex | W2895221252 |
| Language | EN |
| Citations received | 5 |
| References cited | 35 |
Suppose that agents can exert costly effort that creates nonrival, heterogeneous benefits for each other. At each possible outcome, a weighted, directed network describing marginal externalities is defined. We show that Pareto efficient outcomes are those at which the largest eigenvalue of the network is 1. An important set of efficient solutions—Lindahl outcomes—are characterized by contributions being proportional to agents' eigenvector centralities in the network. The outcomes we focus on are motivated by negotiations. We apply the results to identify who is essential for Pareto improvements, how to efficiently subdivide negotiations, and whom to optimally add to a team
Economics · Eigenvalues and eigenvectors · Externality · Focus (optics · Mathematical economics · Mathematical optimization · Microeconomics · Negotiation · Outcome (game theory · Pareto optimal · Pareto principle · Public good · Set (abstract data type · Computer Science · Economic theories and models · Game Theory and Applications · Game Theory and Voting Systems · Mathematics
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| Unique citing works | 5 |
|---|---|
| Citations per year | 1,25 |
| Citation span | 2022 - 2026 (5) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 5 |