A Note on “Corporate Provision of Public Goods”
Abstract
Morgan and Tumlinson (2019, Management Science 65(10), 4489–4504) study a game in which citizens first fund a company venture or purchase bonds, and then bondholders and the firm’s manager, acting on behalf of the shareholders, contribute to a public good. One of their major results is that the venture is funded with positive probability in all trembling-hand perfect Nash equilibria. The purpose of this note is to prove the existence of economies in which the venture is not funded in all trembling-hand perfect Nash equilibria. This paper was accepted by Joshua Gans, business strategy.
Fields of Study & Subjects
Game Theory and Applications
Game Theory and Voting Systems
Experimental Behavioral Economics Studies
Publication details
- Journal / source
- Management Science
- Volume
- 72
- Issue
- 10
- Pages
- 8855–8862
- Publication date
- 11 February 2026
- Language
- EN