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CONTRIBUTION PER UNIT OF G = CONTRIBUTION PER UNIT OF G (10)(11)IN PARTICULAR, (12)|MRS

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(1)

DUOPOLY WITH

(2)

FIRM 1 AND 2 TAKE SIMULTANEOUS DECISIONS ABOUT THIR PRICE BASED ON THE EXPECTATION ABOUT THE PRICE OF THE OTHER FIRM

FIRMS' DECISIONS ARE BEST REPLIES

PREDICTIONS ARE FULFILLED

IN EQUILIBRIUM PRICE IS HOMOGENEOUS AND MUST BE EQUAL TO MARGINAL COST

(3)

FIRM 1 IS QUANTITY LEADER

LEADER'S OUTPUT = MONOPOLY OUTPUT ournot

(4)
(5)
(6)

OF

IN AN IDEAL WORLD, WE SHOULD HAVE THAT

IN REAL WORLD

BECAUSE PREFERENCES ARE PRIVATE INFORMATION

(7)

OF 1

WEALTH OF AGENT 2

(8)
(9)

THE ABOVE INEQUALITIES IMPLY THAT:

= CONTRIBUTION PER UNIT OF G

= CONTRIBUTION PER UNIT OF G

(10)
(11)

IN PARTICULAR,

(12)

|MRS| = MARGINAL WILLINGNESS TO PAY FOR 1 ADDITIONAL UNIT OF THE PUBLIC GOOD G, IN TERMS OF GOOD x

(13)

TO MAKE THE SUPPLY G > 0 PARETO EFFICIENT

(14)
(15)
(16)

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