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Bayesian Repeated Games and Reputations
Forges, Francoise; Salomon, Antoine - CESifo - 2014
Under appropriate assumptions (private values and uniform punishments), the Nash equilibria of a Bayesian repeated game without discounting are payoff-equivalent to tractable, completely revealing, equilibria and can be achieved as interim cooperative solutions of the initial Bayesian game. This...
Persistent link: https://www.econbiz.de/10010752435
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Core-stable Rings in Auctions with Independent Private Values
Biran, Omer; Forges, Francoise - CESifo - 2010
We propose a semi-cooperative game theoretic approach to check whether a given coalition is stable in a Bayesian game …) coalitional equilibrium, describe a (cooperative) partition form game. A coalition is core-stable if the core of a suitable … which the bidders’ final utility possibly depends on the winner’s identity. We show that such direct externalities offer a …
Persistent link: https://www.econbiz.de/10008583724
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International Environmental Agreements with Uncertainty, Learning and Risk Aversion
Finus, Michael; Pintassilgo, Pedro; Ulph, Alistair - CESifo - 2014
This paper analyses the formation of international environmental agreements (IEAs) under uncertainty, focusing on the role of learning and risk aversion. It bridges two strands of literature: one focused on the role learning for the success of IEA formation when countries are risk neutral and...
Persistent link: https://www.econbiz.de/10010736746
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Differential Taxation and Occupational Choice
Gomes, Renato; Lozachmeur, Jean-Marie; Pavan, Alessandro - CESifo - 2014
We study nonlinear income taxation in a Roy model in which agents’ productivity is sectorspecific. We show that when income taxes can be sector-specific, the Diamond-Mirrlees theorem (according to which the second-best displays production efficiency) fails: social welfare (be it Rawlsian or...
Persistent link: https://www.econbiz.de/10010960640
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Observable Strategies, Commitments, and Contracts
Wärneryd, Karl - CESifo - 2014
We consider rules (strategies, commitments, contracts, or computer programs) that make behavior contingent on an opponent’s rule. The set of perfectly observable rules is not well defined. Previous contributions avoid this problem by restricting the rules deemed admissible. We instead limit...
Persistent link: https://www.econbiz.de/10011086457
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Environmental Tax Reform in a Federation with Rent-Induced Migration
Garon, Jean-Denis; Séguin, Charles - CESifo - 2015
We study the welfare effects of a revenue-neutral green tax reform in a federation. The reform consists of increasing a tax on a polluting input and reducing that on labor income. Households are fully mobile within the federation. Regions are unequally endowed with a nonrenewable natural...
Persistent link: https://www.econbiz.de/10011210783
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Charity Auctions for the Happy Few
Bos, Olivier - CESifo - 2008
Recent literature has shown that all-pay auctions raise more money for charity than winner-pay auctions. We demonstrate that the first and second-price winner-pay auctions generate higher revenue than first-price all-pay auctions when bidders are sufficiently asymmetric. To prove it, we consider...
Persistent link: https://www.econbiz.de/10005181374
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Disposal of Petroleum Installations - Major Policy Issues
Osmundsen, Petter; Tveterås, Ragnar - CESifo - 2000
Following the Brent Spar controversy, the OSPAR countries reached a unanimous agreement in 1998 for the future rules for disposal of petroleum installations. The vast majority of existing offshore installations will be re-used or returned to shore for recycling or disposal. For installations...
Persistent link: https://www.econbiz.de/10005406247
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Do Markets Erode Social Responsibility?
Bartling, Björn; Weber, Roberto A. - CESifo - 2013
This paper studies the stability of socially responsible behavior in markets. We develop a laboratory product market in which low-cost production creates a negative externality for third parties, but where alternative production with higher costs entirely mitigates the externality. Our data...
Persistent link: https://www.econbiz.de/10010718529
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Pigou Meets Mirrlees: On the Irrelevance of Tax Distortions for the Second-Best Pigouvian Tax
Jacobs, Bas; Mooij, Ruud A. de - CESifo - 2011
internalize consumption externalities. It is demonstrated that the optimal second-best tax on an externality-generating good …
Persistent link: https://www.econbiz.de/10008833932