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Goods
Kinds of Goods Terms modified by Goods Selected AbstractsTHE EFFECT OF REWARDS AND SANCTIONS IN PROVISION OF PUBLIC GOODSECONOMIC INQUIRY, Issue 4 2007MARTIN SEFTON A growing number of field and experimental studies focus on the institutional arrangements by which individuals are able to solve collective action problems. Important in this research is the role of reciprocity and institutions that facilitate cooperation via opportunities for monitoring, sanctioning, and rewarding others. Sanctions represent a cost to both the participant imposing the sanction and the individual receiving the sanction. Rewards represent a zero-sum transfer from participants giving to those receiving rewards. We contrast reward and sanction institutions in regard to their impact on cooperation and efficiency in the context of a public goods experiment. (JEL C92) [source] ESTIMATING THE GENERAL EQUILIBRIUM BENEFITS OF LARGE CHANGES IN SPATIALLY DELINEATED PUBLIC GOODS*INTERNATIONAL ECONOMIC REVIEW, Issue 4 2004Holger Sieg The purpose of this article is to report a new approach for measuring the general equilibrium willingness to pay for large changes in spatially delineated public goods such as air quality. We estimate the parameters of a locational equilibrium model and compute equilibria for alternative scenarios characterizing the availability of public goods within a system of communities. Welfare measures take into consideration the adjustments of households in equilibrium to nonmarginal changes in public goods. The framework is used to analyze willingness to pay for reductions in ozone concentrations in Southern California between 1990 and 1995. [source] EFFECT OF SUGAR AND FAT REPLACERS ON THE TEXTURE OF BAKED GOODSJOURNAL OF TEXTURE STUDIES, Issue 4 2004MAURICIO SERGIO ESTELLER ABSTRACT i [source] DURABILITY CHOICE AND THE PIRACY FOR PROFIT OF GOODSMETROECONOMICA, Issue 2 2010Article first published online: 26 MAR 200, Gregory E. Goering ABSTRACT We explore the impact of durable goods piracy in a simple two-period durability choice setting where an originator faces a future for-profit pirate that clones or duplicates copies of the durable good. We find that a social planner, as well as a monopoly originator, may well engage in a sort of ,reversed planned obsolescence'. In other words, they manufacture a product that is more durable than the first-best cost-minimizing level, if they cannot directly control the pirate. We show this occurs even in rental or committed sales settings, indicating Swan's market independence result does not hold here. [source] The evolution of submillimetre galaxies: two populations and a redshift cut-offMONTHLY NOTICES OF THE ROYAL ASTRONOMICAL SOCIETY, Issue 2 2008J. V. Wall ABSTRACT We explore the epoch dependence of number density and star formation rate for submillimetre galaxies (SMGs) found at 850 ,m. The study uses a sample of 38 SMG in the Great Observatories Origins Deep Survey (GOODS)-N field, for which cross-waveband identifications have been obtained for 35/38 members together with redshift measurements or estimates. A maximum-likelihood analysis is employed, along with the ,single-source-survey' technique. We find a diminution in both space-density and star formation rate at z > 3, closely mimicking the redshift cut-offs found for quasi-stellar objects (QSOs) selected in different wavebands. The diminution in redshift is particularly marked at a significance level too small to measure. The data further suggest, at a significance level of about 0.001, that two separately evolving populations may be present, with distinct luminosity functions. These results parallel the different evolutionary behaviours of Luminous Infrared Galaxies and Ultra-Luminous Infrared Galaxies, and represent another manifestation of ,cosmic down-sizing', suggesting that differential evolution extends to the most extreme star-forming galaxies. [source] The stellar mass density at z, 6 from Spitzer imaging of i,-drop galaxiesMONTHLY NOTICES OF THE ROYAL ASTRONOMICAL SOCIETY, Issue 3 2007Laurence P. Eyles ABSTRACT We measure the ages, stellar masses, and star formation histories of z, 6 galaxies, observed within 1 Gyr of the big bang. We use imaging from the Hubble Space Telescope (HST) and the Spitzer Space Telescope from the public ,Great Observatories Origins Deep Survey' (GOODS), coupled with ground-based near-infrared imaging, to measure their spectral energy distributions (SEDs) from 0.8,5 ,m, spanning the rest-frame ultraviolet (UV) and optical. From our sample of ,50 ,i,-drop' Lyman-break star-forming galaxies in GOODS-South with z,AB < 27, we focus on ,30 with reliable photometric or spectroscopic redshifts. Half of these are confused with foreground sources at Spitzer resolution, but from the 16 with clean photometry we find that a surprisingly large fraction (40 per cent) have evidence for substantial Balmer/4000-Å spectral breaks. This indicates the presence of old underlying stellar populations that dominate the stellar masses. For these objects, we find ages of ,200,700 Myr, implying formation redshifts of 7 ,zf, 18, and large stellar masses in the range ,1,3 × 1010 M,. Analysis of seven i,-drops that are undetected at 3.6 ,m indicates that these are younger, considerably less massive systems. We calculate that emission line contamination should not severely affect our photometry or derived results. Using SED fits out to 8 ,m, we find little evidence for substantial intrinsic dust reddening in our sources. We use our individual galaxy results to obtain an estimate of the global stellar mass density at z, 6. Correcting for incompleteness in our sample, we find the z, 6 comoving stellar mass density to be 2.5 × 106 M, Mpc,3. This is a lower limit, as post-starburst and dust-obscured objects, and also galaxies below our selection thresholds, are not accounted for. From our results, we are able to explore the star formation histories of our selected galaxies, and we suggest that the past global star formation rate may have been much higher than that observed at the z, 6 epoch. The associated UV flux we infer at z > 7 could have played a major role in reionizing the Universe. [source] The possible detection of high-redshift Type II QSOs in deep fieldsMONTHLY NOTICES OF THE ROYAL ASTRONOMICAL SOCIETY, Issue 3 2006Avery Meiksin ABSTRACT The colours of high-redshift Type II quasi-stellar objects (QSOs) are synthesized from observations of moderate-redshift systems. It is shown that Type II QSOs are comparable to starbursts at matching the colours of z850 -dropouts and i775 -drops in the Hubble UltraDeep Field, and more naturally account for the bluest objects detected. Type II QSOs may also account for some of the i775 -drops detected in the Great Observatories Origins Deep Survey (GOODS) fields. It is shown that by combining imaging data from the Hubble Space Telescope and the James Webb Space Telescope, it will be possible to clearly separate Type II QSOs from Type I QSOs and starbursts based on their colours. Similarly, it is shown that the United Kingdom Infrared Telescope (UKIRT) Infrared Deep Sky Survey (UKIDSS) ZYJ filters may be used to discriminate high-redshift Type II QSOs from other objects. If Type II QSOs are prevalent at high redshifts, then active galactic nuclei (AGNs) may be major contributors to the re-ionization of the intergalactic medium. [source] Halo model at its best: constraints on conditional luminosity functions from measured galaxy statisticsMONTHLY NOTICES OF THE ROYAL ASTRONOMICAL SOCIETY, Issue 3 2006Asantha Cooray ABSTRACT Using the conditional luminosity function (CLF; the luminosity distribution of galaxies in a dark matter halo) as the fundamental building block, we present an empirical model for the galaxy distribution. The model predictions are compared with the published luminosity function (LF) and clustering statistics from the Sloan Digital Sky Survey (SDSS) at low redshifts, galaxy correlation functions from the Classifying Objects by Medium-Band Observations 17 (COMBO-17) survey at a redshift of 0.6, the Deep Extragalactic Evolutionary Probe 2 (DEEP2) survey at a redshift of unity, the Great Observatories Deep Origins Survey (GOODS) at a redshift around 3 and the Subaru/XMM,Newton Deep Field data at a redshift of 4. The comparison with statistical measurements allows us to constrain certain parameters related to analytical descriptions on the relation between a dark matter halo and its central galaxy luminosity, its satellite galaxy luminosity, and the fraction of early- and late-type galaxies of that halo. With the SDSS r -band LF at Mr < ,17, the lognormal scatter in the central galaxy luminosity at a given halo mass in the central galaxy,halo mass, Lc(M), relation is constrained to be 0.17+0.02,0.01, with 1, errors here and below. For the same galaxy sample, we find no evidence for a low-mass cut-off in the appearance of a single central galaxy in dark matter haloes, with the 68 per cent confidence level upper limit on the minimum mass of dark matter haloes to host a central galaxy, with luminosity Mr < ,17, is 2 × 1010 h,1 M,. If the total luminosity of a dark matter halo varies with halo mass as Lc(M) (M/Msat),s when M > Msat, using SDSS data, we find that Msat= (1.2+2.9,1.1) × 1013 h,1 M, and power-law slope ,s= 0.56+0.19,0.17 for galaxies with Mr < ,17 at z < 0.1. At z, 0.6, the COMBO-17 data allows these parameters for MB < ,18 galaxies to be constrained as (3.3+4.9,3.0) × 1013 h,1 M, and (0.62+0.33,0.27), respectively. At z, 4, Subaru measurements constrain these parameters for MB < ,18.5 galaxies as (4.12+5.90,4.08) × 1012 h,1 M, and (0.55+0.32,0.35), respectively. The redshift evolution associated with these parameters can be described as a combination of the evolution associated with the halo mass function and the luminosity,halo mass relation. The single parameter well constrained by clustering measurements is the average of the total satellite galaxy luminosity corresponding to the dark matter halo distribution probed by the galaxy sample. For SDSS, ,Lsat,= (2.1+0.8,0.4) × 1010 h,2 L,, while for GOODS at z, 3, ,Lsat, < 2 × 1011 h,2 L,. For SDSS, the fraction of galaxies that appear as satellites is 0.13+0.03,0.03, 0.11+0.05,0.02, 0.11+0.12,0.03 and 0.12+0.33,0.05 for galaxies with luminosities in the r, band from ,22 to ,21, ,21 to ,20, ,20 to ,19 and ,19 to ,18, respectively. In addition to constraints on central and satellite CLFs, we also determine model parameters of the analytical relations that describe the fraction of early- and late-type galaxies in dark matter haloes. We use our CLFs to establish the probability distribution of halo mass in which galaxies of a given luminosity could be found either at halo centres or as satellites. Finally, to help establish further properties of the galaxy distribution, we propose the measurement of cross-clustering between galaxies divided into two distinctly different luminosity bins. Our analysis shows how CLFs provide a stronger foundation to built-up analytical models of the galaxy distribution when compared with models based on the halo occupation number alone. [source] The nature, evolution, clustering and X-ray properties of extremely red galaxies in the Chandra Deep Field South/Great Observatories Origins Deep Survey fieldMONTHLY NOTICES OF THE ROYAL ASTRONOMICAL SOCIETY, Issue 3 2003Nathan D. Roche ABSTRACT We identify a very deep sample of 198 extremely red objects (EROs) in the Chandra Deep Field South, selected on the basis of I775,Ks > 3.92, to a limit Ks, 22 using the public European Southern Observatory (ESO)/Great Observatories Origins Deep Survey (GOODS) survey. The ERO number counts flatten from a slope of ,, 0.59 to 0.16 at K > 19.5, where they remain below the predictions for pure luminosity evolution, and fall below even a non-evolving model. This suggests there is a significant decrease with redshift in the comoving number density of passive/very red galaxies. We investigate the angular correlation function, ,(,), of these EROs and detect positive clustering for Ks= 20.5,22.0 sources. The EROs show stronger clustering than other galaxies at the same magnitudes. The ,(,) amplitudes are best-fitted by models in which the EROs have a comoving correlation radius r0, 12.5 ± 1.2 h,1 Mpc, or r0, 21.4 ± 2.0 h,1 Mpc in a stable clustering model. We find a 40-arcsec diameter overdensity of 10 EROs, centred on the Chandra X-ray source (and ERO) XID:58. On the basis of colours we estimate that about seven, including XID:58, belong to a cluster of EROs at z, 1.5. The 942-ks Chandra survey detected 73 X-ray sources in the area of our ERO sample, 17 of which coincide with EROs. Of these sources, 13 have X-ray properties indicative of obscured active galactic nuclei (AGN), while the faintest four may be starbursts. In addition, we find evidence that Chandra sources and EROs are positively cross-correlated at non-zero (,2,20 arcsec) separations, implying that they tend to trace the same large-scale structures. In conclusion, these findings appear consistent with a scenario where EROs are the z > 1 progenitors of elliptical/S0 galaxies, some forming very early as massive spheroids, which are strongly clustered and may evolve via an AGN phase, others more recently from mergers of disc galaxies. [source] THE INFLUENCE OF EXPERT REVIEWS ON CONSUMER DEMAND FOR EXPERIENCE GOODS: A CASE STUDY OF MOVIE CRITICS*THE JOURNAL OF INDUSTRIAL ECONOMICS, Issue 1 2005David A. Reinstein An inherent problem in measuring the influence of expert reviews on the demand for experience goods is that a correlation between good reviews and high demand may be spurious, induced by an underlying correlation with unobservable quality signals. Using the timing of the reviews by two popular movie critics, Siskel and Ebert, relative to opening weekend box office revenue, we apply a difference-in-differences approach to circumvent the problem of spurious correlation. After purging the spurious correlation, the measured influence effect is smaller though still detectable. Positive reviews have a particularly large influence on the demand for dramas and narrowly-released movies. [source] RELATIONAL GOODS, MONITORING AND NON-PECUNIARY COMPENSATIONS IN THE NONPROFIT SECTOR: THE CASE OF THE ITALIAN SOCIAL SERVICESANNALS OF PUBLIC AND COOPERATIVE ECONOMICS, Issue 1 2007Michele Mosca ABSTRACT,:,This paper investigates the nonprofit wage gap suggesting a theoretical framework where, like inAkerlof (1984), effort correlates not only with wages, but also with non-monetary compensations. These take the form of relational goods by-produced in the delivery of particular services. By paying higher non-pecuniary compensations, the nonprofit sector attracts intrinsically similarly skilled, but more motivated workers, able to provide in fact a similar (or potentially higher) level of effort than their counterparts in the forprofit sector. On an empirical ground, the paper provides a number of econometric tests that confirm the main predictions of the model in Italy's case. It adds to the available empirical literature by introducing in the analysis direct measures of non-pecuniary compensations and job satisfaction. [source] Hubble gets the GOODSASTRONOMY & GEOPHYSICS, Issue 1 2010Article first published online: 14 JAN 2010 No abstract is available for this article. [source] THE OPTIMAL DIVISION OF GOVERNMENT EXPENDITURE BETWEEN PUBLIC GOODS AND TRANSFER PAYMENTSAUSTRALIAN ECONOMIC PAPERS, Issue 2 2010JOHN CREEDY This paper examines the optimal ratio of transfer payments to expenditure on public goods, for a given income tax rate. The transfer payment is then determined by the government's budget constraint. The optimal ratio of transfers to public good expenditure per person is expressed as a function of the ratio of the median to the arithmetic mean wage, and of the tax rate. Reductions in the skewness of the wage rate distribution are associated with reductions in transfer payments relative to public goods expenditure, at a decreasing rate. Furthermore, increases in the tax rate, from relatively low levels, are associated with increases in the relative importance of transfer payments. But beyond a certain level, further tax rate increases are associated with a lower ratio of transfers to public goods, because of adverse incentive effects. [source] Individual Greed and Public GoodsCONSERVATION BIOLOGY, Issue 4 2003Richard B. Norgaard No abstract is available for this article. [source] The Design Imperative in Consumer GoodsDESIGN MANAGEMENT REVIEW, Issue 1 2006Claudia Kotchka First page of article [source] Latent Separability: Grouping Goods without Weak SeparabilityECONOMETRICA, Issue 1 2000Richard Blundell This paper develops a new concept of separability with overlapping groups,latent separability. This is shown to provide a useful empirical and theoretical framework for investigating the grouping of goods and prices. It is a generalization of weak separability in which goods are allowed to enter more than one group and where the composition of groups is identified by the choice of group specific exclusive goods. Latent separability is shown to be equivalent to weak separability in latent rather than purchased goods and provides a relationship between separability and household production theory. For the popular class of linear, almost ideal and translog demand models and their generalizations, we provide a method for choosing the number of homothetic separable groups. A detailed method for exploring the composition of the separable groups is also presented. These methods are applied to a long time series of British individual household data on the consumption of twenty two nondurable and service goods. [source] REFORM OF THE PERSONAL INCOME TAX SYSTEM IN AUSTRALIAECONOMIC PAPERS: A JOURNAL OF APPLIED ECONOMICS AND POLICY, Issue 4 2005Jeff Pope This paper examines the case for reform of Australia's Personal Income Tax (PIT), argues that it is outdated, and demonstrates a growing consensus for reform. The importance of tax avoidance, particularly the use of trusts, in the Australian PIT system, and arguably its abrogation of modern-day criteria of what constitutes a ,good tax', is emphasised. Three possible ,reform' options are identified: the ,tinkering and tokenism' approach of current Government policy; moderate reform and a proposed ,significant reform option' costing around $22 billion. Essentially this comprises company and top PIT rate equalisation and a doubling of the tax-free threshold. But funding this is problematical. Two key arguments of the paper are that: (real) simplification i.e. lower compliance costs, is an important yet usually down-played objective in reform proposals; savings from reform denying PIT deductions such as work expenses are insufficient to achieve significant PIT reform. An increase in the rate of the Goods and Services Tax (GST) from 10% to 15% (with a compensation package) is therefore advocated in a revenue-neutral analysis ignoring current Government budget surpluses. The overall outcome would be a simplified, more equitable and incentive-driven PIT system that would move Australia closer to the PIT and GST policies of other OECD countries. But the political difficulties of reform mean that the Government's ,tinkering' approach is likely to continue. [source] Robust International Comparisons of Distributions of Disposable Income and Regional Public GoodsECONOMICA, Issue 303 2009NICOLAS GRAVEL The paper provides robust normative comparisons of 12 OECD countries based on their distributions of disposable income and access to two regional public goods: infant mortality and pupil,teacher ratios at public schools. Comparisons are performed using two and three-dimensional dominance criteria that coincide with the unanimity of utilitarian judgments taken over specific classes of utility functions. The criteria succeed in ranking conclusively about 30% of all possible comparisons in the two-dimensional case, compared with 67% for one-dimensional income-based comparisons and 6% for three-dimensional ones. Introducing local public goods seems to worsen the relative standing of Anglo-Saxon countries. [source] The Free Movement of Goods as a Possible ,Community' Limitation on Industrial ConflictEUROPEAN LAW JOURNAL, Issue 4 2000Giovanni Orlandini The aim of this essay is to underline the fact that the process of achieving single market integration is very likely to influence the regulation of industrial conflict. In this perspective, the Commission v France judgment is analysed, in which the ECJ,through a combined interpretation of Article 30 (now 28) and Article 5 (now 10) of the Treaty,states that a Member State is obliged to adopt all ,appropriate measures' to remove any ,obstacles' impeding the free circulation of goods caused by private persons. A new Regulation (n. 2679/98) has followed the ECJ decision, instituting a system of notification of such obstacles arising, or the threat of them, and the right of the Commission to demand a formal reply from a State on whether it has taken, or will be taking the necessary and proportionate measures. The analysis of the principles adopted by the ECJ and of the Regulation shows that, at Community level, pressure is exerted on States to prevent the exercise of collective action as effectively as possible, if this damages inter-State trade. A transnational limit on industrial conflict thus emerges in the Community order, which may well affect the equilibria of national industrial relations in various ways. [source] Pareto-Improving Redistribution and Pure Public GoodsGERMAN ECONOMIC REVIEW, Issue 2 2000Richard Cornes In the pure public good model, the Nash equilibrium associated with one initial income distribution may Pareto dominate the equilibrium associated with another distribution of the same aggregate income. We explore this possibility and examine its implications for Pareto-improving policy intervention by undertaking a comparative static analysis of Pareto-improving tax-financed increases in pure public good provision. Under some circumstances, a government can engineer policies that raise public good provision while increasing the well-being of contributors and non-contributors. Crucial factors promoting this outcome involve a large number of non-contributors, a high marginal valuation for the public good by non-contributors and a large aggregate response of contributors to changes in their income. [source] Global Public Goods for Health.HEALTH ECONOMICS, Issue 5 2004David Woodward, Edited by Richard Smith, Health Economic, Nick Drager., Public Health Perspectives, Robert Beaglehole No abstract is available for this article. [source] Middlemen and the Allocation of Heterogeneous Goods*INTERNATIONAL ECONOMIC REVIEW, Issue 2 2002Alok Johri First page of article [source] Monopoly and Oligopoly Provision of Addictive GoodsINTERNATIONAL ECONOMIC REVIEW, Issue 1 2001Robert Driskill This article investigates monopoly and oligopoly provision of an addictive good. Consumer preferences are modeled as in Becker and Murphy (1988). Addictive goods have characteristics that create interesting strategic issues when suppliers are noncompetitive. We characterize the perfect Markov equilibrium of a market with noncompetitive supply of an addictive good and compare it with the efficient solution. Depending on particular parameter values, we find a wide variety of possible steady-state outcomes, including ones with output above the efficient level and price below marginal cost. We also find that market power can be disadvantageous. [source] Avoiding the "G" Word in International GovernanceINTERNATIONAL STUDIES REVIEW, Issue 1 2003Leila Simona Talani Common Goods: Reinventing European and International Governance. Edited by Adrienne Heritier. Rowman & Littlefield Publishers, 2002. 353 pp., $74.00 cloth (ISBN: 0-7425-1700-4), $29.95 paper (ISBN: 0-7425-1701-2) [source] The Reform of Support Mechanisms for Upland Farming: Paying for Public Goods in the Severely Disadvantaged Areas of EnglandJOURNAL OF AGRICULTURAL ECONOMICS, Issue 3 2007Nick Hanley Abstract The incomes of hill-farmers in ,Less Favoured Areas' of the UK have traditionally been supported by payments related to their production levels. Reform of the Common Agricultural Policy and changes in policy objectives within the UK imply a need to change this basis of support. We investigate the option of paying for public goods produced, focusing on landscape features and habitats. A choice experiment study is used to estimate willingness to pay for different landscape features in four Severely Disadvantaged Areas of England. We find significant differences in the value of landscape features, both within and across regions, and parallel differences in the aggregate value of different policy options for upland areas. We discuss briefly how this information could be included in a spatially differentiated payments scheme. [source] Peer-to-Peer File Sharing and the Market for Digital Information GoodsJOURNAL OF ECONOMICS & MANAGEMENT STRATEGY, Issue 2 2010Ramon Casadesus-Masanell We study competitive interaction between two alternative models of digital content distribution over the Internet: peer-to-peer (p2p) file sharing and centralized client,server distribution. We present microfoundations for a stylized model of p2p file sharing where all peers are endowed with standard preferences and show that the endogenous structure of the network is conducive to sharing by a significant number of peers, even if sharing is costlier than freeriding. We build on this model of p2p to analyze the optimal strategy of a profit-maximizing firm, such as Apple, that offers content available at positive prices. We characterize the size of the p2p network as a function of the firm's pricing strategy, and show that the firm may be better off setting high prices, allowing the network to survive, and that the p2p network may work more efficiently in the presence of the firm than in its absence. [source] Dynamic Competition with Experience GoodsJOURNAL OF ECONOMICS & MANAGEMENT STRATEGY, Issue 1 2006J. Miguel Villas-Boas This paper considers dynamic competition in the case in which consumers are only able to learn about their preferences for a certain product after experiencing it. After trying a product a consumer has more information about that product than about untried products. When competing in such a market firms with more sales in the past have an informational advantage because more consumers know their products. If products provide a better-than-expected fit with greater likelihood, taking advantage of that informational advantage may lead to an informational disadvantage in the future. This paper considers this competition with an infinite horizon model in a duopoly market with overlapping generations of consumers. Two effects are identified: On one hand marginal forward-looking consumers realize that by purchasing a product in the current period will be charged a higher expected price in the future. This effect results in reduced price sensitivity and higher equilibrium prices. On the other hand, forward-looking firms realize that they gain in the future from having a greater market share in the current period and compete more aggressively in prices. For similar discount factors for consumers and firms, the former effect is more important, and prices are higher the greater the informational advantages. The paper also characterizes oscillating market share dynamics, and comparative statics of the equilibrium with respect to consumer and firm patience, and the importance of the experience in the ex post valuation of the product. [source] Creative Politics: Taxes and Public Goods in a Federal System by Glenn BeamerJOURNAL OF POLICY ANALYSIS AND MANAGEMENT, Issue 3 2002Gordon A. MacInnes [source] Dynamic Voluntary Provision of Public Goods: A GeneralizationJOURNAL OF PUBLIC ECONOMIC THEORY, Issue 1 2009KENJI FUJIWARA In this note we examine if the proposition offered by Fershtman and Nitzan (1991) and Wirl (1996) in the context of a dynamic voluntary provision model with a linear production function can be generalized to a more general CES formulation. By comparing the steady-state stocks of a public good in open-loop and feedback Nash equilibria with that under the cooperative solution, we demonstrate that their ranking among the steady-state stocks is indeed preserved under the CES framework. [source] Backward Intergenerational Goods and Endogenous FertilityJOURNAL OF PUBLIC ECONOMIC THEORY, Issue 5 2008JOHN WILLIAM HATFIELD This paper characterizes the consequences of introducing the public provision of intergenerational goods to the elderly in a model with endogenous fertility. With exogenous fertility, it has been shown that the government can mandate the first-best outcome by simply imposing the socially optimal transfer. By contrast, with endogenous fertility, the government can no longer enforce this outcome. This is due, in part, to the effects of mandatory provision on the birth rate. However, taxes may still have a salubrious effect on social welfare as they can eliminate particularly bad equilibria. 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