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The Market for Conservation and Other Hostages
Harstad, Bård - CESifo - 2013
A “conservation good” (such as a tropical forest) is owned by a seller who is tempted to consume (or cut), but a buyer benefits more from conservation. The seller does conserve if the buyer is expected to buy, but the buyer is unwilling to pay as long as the seller conserves. This...
Persistent link: https://www.econbiz.de/10010670795
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On the Effects of Mergers on Equilibrium Outcomes in a Common Property Renewable Asset Oligopoly
Benchekroun, Hassan; Gaudet, Gérard - CESifo - 2014
This paper examines a dynamic game of exploitation of a common pool of some renewable asset by agents that sell the result of their exploitation on an oligopolistic market. A Markov Perfect Nash Equilibrium of the game is used to analyze the effects of a merger of a subset of the agents. We...
Persistent link: https://www.econbiz.de/10011082835
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Sequential Estimation of Structural Models with a Fixed Point Constraint
Kasahara, Hiroyuki; Shimotsu, Katsumi - CESifo - 2008
This paper considers the estimation problem of structural models for which empirical restrictions are characterized by a fixed point constraint, such as structural dynamic discrete choice models or models of dynamic games. We analyze the conditions under which the nested pseudo-likelihood (NPL)...
Persistent link: https://www.econbiz.de/10005416516
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Optimal Tariffs on Exhaustible Resources: The Case of a Quantity Setting Cartel
Fujiwara, Kenji; Long, Ngo Van - CESifo - 2012
We formulate a dynamic game model of trade in an exhaustible resource with a quantity-setting cartel. We compute the feedback Nash equilibrium and two Stackelberg equilibria under two different leadership scenarios: leadership by the strategic importing country, and leadership by the exporting...
Persistent link: https://www.econbiz.de/10009645651
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Equilibrium and Efficiency in the Tug-of-War
Konrad, Kai A.; Kovenock, Dan - CESifo - 2005
We characterize the unique Markov perfect equilibrium of a tug-of-war without exogenous noise, in which players have the opportunity to engage in a sequence of battles in an attempt to win the war. Each battle is an all-pay auction in which the player expending the greater resources wins. In...
Persistent link: https://www.econbiz.de/10005196321
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France's Environmental Policies: Internalising Global and Local Externalities
Egert, Balazs - CESifo - 2012
also at dealing with local air and water pollution, waste management and the conservation of biodiversity. The laws that …
Persistent link: https://www.econbiz.de/10010559788
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Regional Implications of Financial Market Development: Credit Rationing, Trade, and Location
Ehrlich, Maximilian Von; Seidel, Tobias - CESifo - 2013
We develop a heterogeneous-firms model with trade in goods, labor mobility and credit constraints due to moral hazard. Mitigating financial frictions reduces the incentive of high-skilled workers to migrate to one region such that an unequal distribution of industrial activity becomes less...
Persistent link: https://www.econbiz.de/10010877832
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The Effects of Taxation on the Location Decision of Multinational Firms: M&A vs. Greenfield Investments
Hebous, Shafik; Ruf, Martin; Weichenrieder, Alfons - CESifo - 2010
location for an affiliate of a multinational firm. In particular, we distinguish between the tax sensitivity of Greenfield and … M&A investments. Based on a novel firm-level dataset on German outbound FDI, we find evidence that location decisions of … M&A investments are less sensitive to differences in tax rates than location decisions of Greenfield investments …
Persistent link: https://www.econbiz.de/10008572530
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Market Shares in Two-Sided Media Industries
Kind, Hans Jarle; Stähler, Frank - CESifo - 2009
market shares. We show that advertisement levels depend neither on the media price nor on the location of the media firm. An … increase in advertising revenues does not change location but only the media price. If the distribution of consumers is …
Persistent link: https://www.econbiz.de/10005029256
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Friends' Networks and Job Finding Rates
Cappellari, Lorenzo; Tatsiramos, Konstantinos - CESifo - 2010
evidence of higher wages and employment stability for those with more employed friends, which is consistent with networks …
Persistent link: https://www.econbiz.de/10008727296