encompasses many economic models with externalities and outside options. We show that when outside options are pure (i …

costs. Consequently, this paper shows that differential taxation results in lower social costs than traditional non …

paid by the winner. We study the impact of these price-externalities on the first-price auction and the second … independently from the identity of the winner. We prove that the first-price auction is not affected by this kind of price-externalities … by the presence of such price-externalities. In any case, in comparison with the first-price auction, the second …

This paper analyzes the meaning of comparing the economic performance of strict liability and negligence rule in a … unilateral standard accident model under Knightian uncertainty. It focuses on the cost expectation of major harm on which the … injurers form beliefs. It shows first that, when the Court agrees with the regulator, whatever the liability regime, the first …

liability regimes in tort law: rule of negligence and strict liability. Starting from the standard Shavellian unilateral … accident scheme, I show that matching up liability regime on their capacity to provide the highest level of safety is … uncertainty. The second one takes into consideration the beliefs of agents and their aversion to ambiguity. The model applies …

This paper examines the double dividend hypothesis in the presence of labour income uncertainty. Empirical evidence … shows that uncertainty over labour income is particularly significant in developing, while not negligible in developed … countries. Under uncertainty, and assuming incomplete capital markets, the tax system plays a role in providing social insurance …

, climate uncertainty is related in the model to the atmospheric temperature response to an increase in GHGs concentration …

For a sequential, two-period decision problem with uncertainty and under broad conditions (non-finite sample set …

but also partial learning. Second, we test whether the conclusion also holds if there is uncertainty about abatement costs …Na and Shin (1998) showed that the veil of uncertainty can be conducive to the success of self-enforcing international … research efforts worldwide to reduce uncertainty about the environmental impact of emissions and the cost of reducing them …