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11.902 Advanced Urban Public Finance: Collective Action and Provisions of Local Public Goods

11.902 Advanced Urban Public Finance: Collective Action and Provisions of Local Public Goods

In analyzing fiscal issues, conventional public finance approaches focus mainly on taxation and public spending. Policymakers and practitioners rarely explore solutions by examining the fundamental problem: the failure of interested parties to act collectively to internalize the positive externalities generated by public goods. Public finance is merely one of many possible institutional arrangements for assigning the rights and responsibilities to public goods consumption. This system is currently under stress because of the financial crisis. The first part of the class will focus on collective action and its connection with local public finance. The second part will explore alternative institutional arrangements for mediating collective action problems associated with the provision of... Show More

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