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The problem of financing a set of public goods (facilities, projects) by private contributions is studied. The corresponding cooperative game, the realization game, is shown to be convex. For the noncooperative setting we study a realization scheme that induces a strategic game. This...
Persistent link: https://www.econbiz.de/10005618590
The paper investigates why the corporate landscapes of Germany and UK are so different in terms of control by analyzing … ownership evolution in recent IPOs. We report the control evolution of a sample of size- and industry-matched German and UK … companies six years subsequent to the flotation. The initial shareholders in the average German IPO lose majority control six …
Persistent link: https://www.econbiz.de/10005660473
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In this paper, we examine the impact of information on individual contributions in a public-bad experiment. We compare two experimental treatments. In the partial information treatment, subjects are only informed about the total contributions by their group, whereas in the full information...
Persistent link: https://www.econbiz.de/10005660500
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Economic Theory 71 (1996), 44-74. This cost topology might represent geographical, social, or individual differences. It …
Persistent link: https://www.econbiz.de/10005775370
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This paper generalizes the results of Suijs, De Waegenaere and Borm (1998) to arbitrary risks. It provides Pareto optimal allocations and shows that the zero utility premium calculation principle yields a core-allocation.
Persistent link: https://www.econbiz.de/10005775386
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