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Exchange of risks is considered here as a transferable-utility cooperative game. When the concerned agents are risk averse, there is a core imputation given by means of shadow prices on state-dependent claims. Like in finance, a risk can hardly be evaluated merely by its inherent statistical...
Persistent link: https://www.econbiz.de/10011409137
In standard coalition games, players try to form a coalition to secure a prize and a coalition agreement specifies how … of the prize often takes place after the coalition formation stage. This creates the possibility for some players to ask … strategic disadvantage: a greater voting power in forming a winning coalition is undermined by the threat of being overly …
Persistent link: https://www.econbiz.de/10012494898
Persistent link: https://www.econbiz.de/10003598571
International climate negotiations take place in a setting where uncertainties regarding the impacts of climate change are very large. In this paper, we examine the influence of increasing the probability and impact of large climate change damages, also known as the 'fat tail', on the formation...
Persistent link: https://www.econbiz.de/10009690831
members of the coalition group for equilibrium payoffs and welfare effects. In this analysis we also distinguishing between … coalition groups with and without side payments. Overall, coalition groups tend to perform well for the members of the coalition … group in comparison to fully decentralized negotiations, particularly if the objectives of the members of the coalition …
Persistent link: https://www.econbiz.de/10009691706
We propose a semi-cooperative game theoretic approach to check whether a given coalition is stable in a Bayesian game …) coalitional equilibrium, describe a (cooperative) partition form game. A coalition is core-stable if the core of a suitable …
Persistent link: https://www.econbiz.de/10003974150
repeated game setting. We show that partial tax coordination is more likely to prevail if the number of regions in a coalition …
Persistent link: https://www.econbiz.de/10003994121
international agreement on emission reductions. We consider a situation where a coalition of countries does not cooperate on …. The equilibrium size of such a coalition, as well as equilibrium emissions, depends on the distribution across countries … of countries will reduce (or leave unchanged) the equilibrium coalition size. However, the effect of such an increase in …
Persistent link: https://www.econbiz.de/10010246011
non-coalition countries with regard to emissions and welfare and compare business as usual with the coalition … liberalization by moving from autarky to free trade. Although the coalition steps up its mitigation effort, world emissions rise … environment as well as for the coalition countries' welfare and the aggregate welfare of all countries; it reduces the range of …
Persistent link: https://www.econbiz.de/10009581727
; coalition formation ; endogenous institutions …
Persistent link: https://www.econbiz.de/10009490611