Showing 1 - 6 of 6
Itaya et al. (2014) study the conditions for sustainability and stability of capital tax coordination in a repeated …
Persistent link: https://www.econbiz.de/10010877774
Motivated by emission and resource markets, this paper considers repeated, bilateral barters between owners of commodity bundles, contingent claims, or property rights. Focus is on feasible, voluntary exchanges, driven only by differences in substitution rates. No coordination is ever needed....
Persistent link: https://www.econbiz.de/10010721608
In this paper we construct a stylised general equilibrium macromodel to show that demand led expansions may have unexpected effects when market imperfections lead to changes in labour productivity. We find some empirical support, from a number of European countries, for the main predictions of...
Persistent link: https://www.econbiz.de/10005181466
Theoretical and experimental studies of noncooperative games increasingly recognize Nash equilibrium as a limiting outcome of players‘ repeated interaction. This note, while sharing that view, illustrates and advocates combined use of convex optimization and differential equations, the purpose...
Persistent link: https://www.econbiz.de/10005181528
risk and typically need to assume stability of these characteristics over time and across decision domains. We test the … reliability of two choice tasks for eliciting discount rates, risk aversion, and probability weighting and assess the stability of …
Persistent link: https://www.econbiz.de/10010681226
We investigate the formation of global climate agreements (= stable grand climate coalitions) in a model, in which climate policy takes the form of carbon emission taxation and fossil fuel and consumption goods are traded on world markets. We expand the model of Eichner and Pethig (2014) by...
Persistent link: https://www.econbiz.de/10010960648