Economics, Econometrics and Finance
8 years ago

Minimum standards more efficient than price incentives for public goods.

Journal of the Association of Environmental and Resource Economists
Public Policy and the Private Provision of Public Goods under Heterogeneous Preferences
Mark R. Jacobsen, Jacob LaRiviere, Michael Price

Paper Summary

The article compares different ways to encourage people to contribute to public goods like parks or energy-efficient appliances. Some people value these goods more than others. Policies that set minimum standards are often better than offering money incentives. The best policy depends on how much people value the public good and how much it costs to provide it.

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