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The Road to Extinction: Commons with Capital Markets
Dutta, Jayasri; Rowat, Colin - EconWPA - 2004
We study extinction in a commons problem in which agents have access to capital markets. When the commons grows more … quickly than the interest rate, multiple equilibria are found for intermediate commons endowments. In one of these, extinction …' equilibrium, increases it in the other equilibrium in which the commons is eventually depleted, and expands the set of commons …
Persistent link: https://www.econbiz.de/10005556729
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On the Private Provision of Public Goods: A Diagrammatic Exposition
Ley, Eduardo - EconWPA - 1995
This paper surveys a selection of the literature on the private provision of public goods using the Kolm triangle. (The Kolm triangle is the analogue of an Edgeworth box in an economy with a public good.) We provide simple geometrical proofs of various established results using this graphical...
Persistent link: https://www.econbiz.de/10005125979
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Population Games
Blume, Lawrence - EconWPA - 1996
Population games are stochastic processes which explicitly model Nash's (1950) mass action interpretation of Nash equilibrium. The mass action interpretation envisions a population of players for each position in the game, and that players are randomly matched for play. The hope is that the...
Persistent link: https://www.econbiz.de/10005407624
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Endogenous Games and Mechanisms: Side Payments Among Players
Jackson, Matthew O.; Wilkie, Simon - EconWPA - 2002
and Bertrand oligopoly, principal-agent problems, and commons games, among others. …
Persistent link: https://www.econbiz.de/10005134969
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Road Pricing, Traffic Congestion and Economic Welfare: A Note
Ingo_Böbel; Casimir_de_Rham - EconWPA - 2004
Only recently, the subject of road pricing to reduce traffic congestion gained increasing importance in Europe. This paper uses a standard microeconomic approach to show that road user price charging to avoid traffic congestion is optimal from a society’s point of view as it improves economic...
Persistent link: https://www.econbiz.de/10005135043
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The commons with capital markets
Rowat, Colin; Dutta, Jayasri - EconWPA - 2004
strategic, extinction dates are unique. Strategic agents generally earn their surplus by delaying the commons' extinction; in …We explore commons problems when agents have access to capital markets. The commons has a high intrinsic rate of return … are secure. In a two period model, we assess the consequences of market access for the commons' survival and welfare; we …
Persistent link: https://www.econbiz.de/10005556702
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Commons, anti-commons, corruption and 'maffia' behavior
Canavese, Alfredo - EconWPA - 2004
institutions devised to discourage it. The analytical framework used to explore the symmetric tragedies of the commons and the … and it can be discouraged by the introduction of competition among corrupt agents to turn it into a tragedy of the commons …
Persistent link: https://www.econbiz.de/10005412527
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Ultimatums and Tantrums: A Resource Sharing Experiment
Janmaat, John - EconWPA - 2005
The ultimatum game experiment has a long history in experimental economics. In-vivo ultimatum like strategic settings often involve uncertain rejection and payoff reversals. This paper presents the results of an ultimatum like experiment extended to reflect characteristics of a shared...
Persistent link: https://www.econbiz.de/10005408212
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Congestion Games Revisited
Kukushkin, Nikolai S. - EconWPA - 2004
Strategic games are considered where the players derive their utilities from participation in certain 'processes.' Two subclasses consisting exclusively of potential games are singled out. In the first, players choose where to participate, but there is a unique way of participation, the same for...
Persistent link: https://www.econbiz.de/10005550874
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On the Purification of Nash Equilibria of Large Games
Carmona, Guilherme - EconWPA - 2003
We consider Salim Rashid's asymptotic version of David Schmeidler's theorem on the purification of Nash equilibria. We show that, in contrast to what is stated, players' payoff functions have to be selected from an equicontinuous family in order for Rashid's theorem to hold. That is, a bound on...
Persistent link: https://www.econbiz.de/10005550924