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A local government wants to hire a construction firm to perform a public works project. The government gets payoff 1 from the completed project, but
A local government wants to hire a construction firm to perform a public works project. The government gets payoff 1 from the completed project, but if the government chooses not to hire the construction firm for this project, it can use its tax revenue to implement other projects that yield payoff 0 c 1
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Solution The players are the local government and the construction ...
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Public Finance and Public Policy
Authors: Jonathan Gruber
4th edition
1429278455, 978-1429278454
