Showing 1 - 10 of 174
Limit core allocations are the ones that remain in the core of a replicated economy.An equivalent notion for economies with public goods is Schweizer s concept of club e ciency under a variable number of economic agents.We extend this notion to economies with goods that have a semi-public...
Persistent link: https://www.econbiz.de/10011090319
Limit core allocations are the ones that remain in the core of a replicated economy. An equivalent notion for economies with public goods is Schweizer's club efficiency. We extend this notion to economies with goods that have a semi-public nature. The notion encompasses purely private as well as...
Persistent link: https://www.econbiz.de/10011091333
Persistent link: https://www.econbiz.de/10011092160
Persistent link: https://www.econbiz.de/10011091049
We consider a network economy in which economic agents are connected within a structure of value-generating relationships. Agents are assumed to be able to participate in three types of economic activities: autarkic self-provision; binary matching interactions; and multi-person cooperative...
Persistent link: https://www.econbiz.de/10011092351
We consider a relational economy in which economic agents participate in three types of relational economic activities: autarkic activities; binary matching activities; and plural cooperative activities. We introduce a stability notion and characterize stable interaction structures, both in the...
Persistent link: https://www.econbiz.de/10011092861
When truth conflicts with efficiency, can verbal communication destroy efficiency? Or are lies or vagueness used to hide inconvenient truths? We consider a sequential 2-player public good game in which the leader has private information about the value of the public good. This value can be low,...
Persistent link: https://www.econbiz.de/10011091313
This paper compares the welfare effects of three ways in which health care can be organized: no competition (NC), competition for the market (CfM) and competition on the market (CoM) where the payer offers the optimal contract to providers in each case. We argue that each of these can be optimal...
Persistent link: https://www.econbiz.de/10011092045
This paper introduces three methodological advances to study the optimal design of static and dynamic markets. First, we apply a mechanism design approach to characterize all incentive-compatible market equilibria. Second, we conduct a normative analysis, i.e. we evaluate alternative competition...
Persistent link: https://www.econbiz.de/10011092580
Abstract: When it comes to economic reforms in developing countries, many economists agree on broad objectives (such as fostering outward orientation). Broad objectives, however, can be pursued in many di¤erent ways, and policy experimentation is often indispensable for learning which...
Persistent link: https://www.econbiz.de/10011090351