decentralized system can still result in globally efficient allocation …

combine an emission trading system (ETS) with output-based allocation (OBA) of allowances to exposed industries. We first show …

allocation power to distribute benefits from the public good in a way that motivates people to contribute. Re-allocating team …

high-quality firms, who under-produce in the market allocation. Furthermore, the fixed cost generates a positive …

on the one hand and the core property of an allocation on the other. In particular we show that it is an inhomogeneous … test by which it can be checked whether a given allocation is in the core thus being a possible outcome of a cooperative … allocation which can be interpreted as the outcome of a negotiation process when all agents form a grand coalition …

The ex ante incentive compatible core of an exchange economy with private information is the (standard) core of a … incentive compatible core can be empty, even if utility functions are quasi-linear. If, in addition to quasi-linearity, further … assumptions are made (like independent private values), the non-emptiness of the core follows nevertheless from d?Aspremont and …

) coalitional equilibrium, describe a (cooperative) partition form game. A coalition is core-stable if the core of a suitable …