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This paper examines characteristics of cooperative behavior in a repeated, n-person, continuous action generalization of a Prisoner’s Dilemma game. When time preferences are heterogeneous and bounded away from one, how “much” cooperation can be achieved by an ongoing group? How does group...
Persistent link: https://www.econbiz.de/10005423275
Much of the job search literature assumes bilateral meetings between workers and firms. This ignores the frictions that arise when meetings are actually multilateral. I analyze the magnitude of these frictions by presenting an equilibrium job search model with an endogenous number of contacts....
Persistent link: https://www.econbiz.de/10009421238
. Constraining choices increases segregation and affects the stability and efficiency of the final allocation. Remarkably, the …
Persistent link: https://www.econbiz.de/10005008015
Since the seminal contribution of Jackson & Wolinsky 1996 [A Strategic Model of Social and Economic Networks, JET 71, 44-74] it has been widely acknowledged that the formation of social networks exhibits a general conflict between individual strategic behavior and collective outcome. What has...
Persistent link: https://www.econbiz.de/10005008043
We study the stability of social and economic networks when players are farsighted. In particular, we examine whether the networks formed by farsighted players are different from those formed by myopic players. We adopt Herings, Mauleon and Vannetelbosch’s (Games and Economic Behavior,...
Persistent link: https://www.econbiz.de/10005008046
In most multi-species fisheries managed through output controls, total allowable catches (TACs) are set primarily on the basis of biological considerations, usually on a species by species basis. An implicit assumption of management is that fishers are able to adjust their product mix in line...
Persistent link: https://www.econbiz.de/10005423115
global climate change. We employ six criteria to evaluate the policy proposals: environmental outcome, dynamic efficiency … environmental outcome and efficiency, and between cost-effectiveness and incentives for participation and compliance. …
Persistent link: https://www.econbiz.de/10005423122
This paper analyses technical efficiency of local electricity distribution in Italy (1994, 1996) by using both … and/or mergers involving ENEL's units and MUNIs should depend on the varied efficiency records which were detected …
Persistent link: https://www.econbiz.de/10005423137
regions according to the availability of sources. Then the efficiency problem can be solved region by region. …
Persistent link: https://www.econbiz.de/10005423231
We investigate the role of macroprudential policies in mitigating liquidity traps driven by deleveraging, using a simple Keynesian model. When constrained agents engage in deleveraging, the interest rate needs to fall to induce unconstrained agents to pick up the decline in aggregate demand....
Persistent link: https://www.econbiz.de/10010800974