A prize to give for: An experiment on public good funding mechanisms

Faravelli, Marco, Corazzini, Luca and Stanca, Luca (2010) A prize to give for: An experiment on public good funding mechanisms. The Economic Journal, 120 547: 944-967. doi:10.1111/j.1468-0297.2009.02314.x

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Author Faravelli, Marco
Corazzini, Luca
Stanca, Luca
Title A prize to give for: An experiment on public good funding mechanisms
Journal name The Economic Journal   Check publisher's open access policy
ISSN 1468-0297
0013-0133
Publication date 2010-09
Sub-type Article (original research)
DOI 10.1111/j.1468-0297.2009.02314.x
Volume 120
Issue 547
Start page 944
End page 967
Total pages 24
Place of publication Oxford, United Kingdom
Publisher Wiley-Blackwell Publishing
Collection year 2011
Language eng
Abstract This article investigates fund-raising mechanisms based on a prize as a way to overcome free riding in the private provision of public goods. We focus on an environment characterised by income heterogeneity and incomplete information about income levels. Our analysis compares experimentally the performance of a lottery, an all-pay auction and a benchmark voluntary contribution mechanism. We find that prize-based mechanisms perform better than voluntary contribution in terms of public good provision. Contrary to the theoretical predictions, contributions are significantly higher in the lottery than in the all-pay auction, both overall and by individual income types. © The Author(s). Journal compilation © Royal Economic Society 2009.
Keyword Benchmarking
Income
Performance assessment
Public goods
Q-Index Code C1
Q-Index Status Confirmed Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Article (original research)
Collections: Official 2011 Collection
School of Economics Publications
 
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Citation counts: TR Web of Science Citation Count  Cited 19 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 22 times in Scopus Article | Citations
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Created: Mon, 06 Dec 2010, 15:18:55 EST by Alys Hohnen on behalf of School of Economics