Showing 1 - 10 of 26
Persistent link: https://www.econbiz.de/10001602646
This paper studies equilibrium search and learning in a dynamic shing gamethat is played by independent shermen and by members of an information sharingCooperative. Once collected, information about the location of productive sh-ing sites is an excludable public good. We show that independent...
Persistent link: https://www.econbiz.de/10009360718
We analyze non-cooperative environmental policy when the only strategic interac-tion between countries is through bilateral transboundary pollution, i.e., countries areclosed or small open economies. When countries set pollution taxes simultaneously,there is no carbon leakage. However, in the...
Persistent link: https://www.econbiz.de/10009360734
Ordinarily, the process of decision making by a committee through voting is mod-elled by a monotonic game the range of whose characteristic function is restricted tof0; 1g: The decision rule that governs the collective action of a voting body induces ahierarchy in the set of players in terms of...
Persistent link: https://www.econbiz.de/10009360752
The core is reformulated to incorporate the externality typical in strategic formgames. Any coalition of players may deviate by trying to commit to a profile of actionsdifferent from a status quo. The outsiders of the coalition may take a coordinatedmeasure, incentive-feasibly for themselves, to...
Persistent link: https://www.econbiz.de/10009360771
I exploit a major structural change that has occurred in world soccer to study the impact ofincentives on outcomes in a strategic setting. A game-theoretic model is developed thatcaptures some essential strategic elements of soccer vis-à-vis the number of points awardedto a win. The observable...
Persistent link: https://www.econbiz.de/10009360784
The tug-o-war for supremacy between inflation targeting and monetary tar-geting is a classic yet timely topic in monetary economics. In this paper, werevisit this question within the context of a pure-exchange overlapping genera-tions model of money where spatial separation and random relocation...
Persistent link: https://www.econbiz.de/10009360807
We study a variant of the conventional keeping-up-with-the-Joneses setup in whichheterogeneous-ability agents care both about consumption and leisure and receive anutility premium if their consumption exceeds that of the Joneses’. Unlike the conventionalsetup in which all agents are assumed to...
Persistent link: https://www.econbiz.de/10009360808
The welfare dominance of ad valorem taxes over unit taxes in a single-market Cournot oligopoly is well-known. This … article extends the analysis to multi-market oligopoly. Provided all ad valorem taxes are positive, unit costs are constant … in determining the extent of cost efficiencies arising under ad valorem taxation. The issue of merger under oligopoly is …
Persistent link: https://www.econbiz.de/10009360830
In this paper, we argue that the observed di¤erence in the cost of intraday and overnightliquidity is part of an optimal payments system design. In our environment, the interestcharged on overnight liquidity a¤ects output while the cost of intraday liquidity onlyaffects the distribution of...
Persistent link: https://www.econbiz.de/10009360831