of the system, under various institutional arrangements, through the initial allocation of permits …

inefficiency of a household resource allocation does not however refute the hypothesis that it chooses this resource allocation as … necessary to show that the observed allocation does not represent a second best optimum. For this it will be necessary to show … the allocation does not hold …

allocation between policy bloc and fringe are both inefficient. When firms buy offsets directly from the fringe and all quotas …. The former (latter) case occurs when free allocation of quotas is not (very) generous, and the offset market is large …

right to allocate society's resources, and we allow for costly inter-group mobility. The winning group offers an allocation …

allocation decisions. We estimate the determinants of China's allocation of project aid, food aid, medical teams and total aid … money to developing countries, comparing its allocation decisions with traditional and other so-called emerging donors. We … find that political considerations are an important determinant of China's allocation of aid. However, in comparison to …

disadvantage is that it takes more time before an optimal allocation is reached because more productive firms (for a particular …