Publications by authors named "John Ledyard"

Every social group needs to decide when to provide public goods and how to allocate the costs among its members. Ideally, this decision would maximize the group's net benefits while also ensuring that every individual's benefit is greater than the cost he or she has to pay. Unfortunately, the economic theory of mechanism design has shown that this ideal solution is not feasible when the group leadership does not know the values of the individual group members for the public good.

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