Question

how would you resolve the problem of preference revelation in respect of public good? illustrate answer with some practical methodology.​

Answer 1

In the case of community that is traded of the market, buyers and sellers reveal their preference directly through their actions .

on the other hand, In the case of public goods and bads no such direct Revelation mechanism is available. this raises the question of how to overcome the problem of preference revelation.

several differences practical methods which can be used to measure the willingness to pay for public goods have been suggested in the literature

Explanation:

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