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No 38:
Public Goods and Optimal Paternalism under Present-Biased Preferences

Thomas Aronsson and David Granlund

Abstract: This paper deals with the optimal provision of a state-variable public good in a two-type model, when the consumers have present-biased preferences due to quasi-hyperbolic discounting. The results show that the preference for immediate gratification facing the (mimicking) high-ability type weakens the incentive to adjust the public provision in response to the self-selection constraint.

Keywords: Public Goods; Quasi-Hyperbolic Discounting; Redistribution; Asymmetric Information; (follow links to similar papers)

JEL-Codes: D03; D61; H41; (follow links to similar papers)

7 pages, June 1, 2010

Public Goods; Quasi-Hyperbolic Discounting; Redistribution; Asymmetric Information

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