The Groves-Ledyard mechanism aims to encourage people to reveal their demand for these entities.
The Groves-Ledyard mechanism aims to encourage people to reveal their demand for these entities. Depending on whether groups that provide them expand or contract, Mancur Olson divided these into inclusive and exclusive kinds. Erik Lindahl proposed a tax based on people's utility derived from these entities. The Samuelson condition states that these (*) goods are efficiently provided when the marginal rate of transformation equals the summed marginal rate of substitution for all individuals. Private markets often underprovide these goods because their demand curves are found by vertically summing individual demand curves. The free rider problem was motivated by these non-rival, non-excludable goods. For 10 points, name these goods which are typically shared by members of a community.
The Groves-Ledyard mechanism aims to encourage people to reveal their demand for these entities.
public goods [or "collective goods"; prompt on "non-rival goods" or "non-excludable goods," or equivalents]