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Time Dynamics and Incomplete Information in the Private Provision of Public Goods

Mark Gradstein
Journal of Political Economy 1992 100(3), 581-597
In this paper a dynamic model of the provision of a public good with incomplete information is developed. For a finite population, in addition to the standard underprovision type of results, inefficiency occurs because of a delay in contributions. For an infinite population, although delay may disappear, underprovision remains so that equilibrium is still inefficient. Policy implications of these results are described, emphasis being put on possible government intervention with incomplete information.

Inequality and Institutions

Alberto Chong; Mark Gradstein
The Review of Economics and Statistics 2007 89(3), 454-465
This paper presents theory and evidence on the relationship between inequality and institutional quality. We exhibit a model in which the two may dynamically reinforce each other and set to test this relationship with a broad array of institutional measures. The double causality between institutional strength and a more equal distribution of income is empirically established using dynamic panel and linear feedback analysis.