Showing 1 - 10 of 3,581
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
Consider a situation in which countries anticipate an international environmental agreement (IEA) to be in effect sometime in the future. What is the impact of the future IEA on current emissions after its announcement? We show that the answer to this question is ambiguous. We examine four types...
Persistent link: https://www.econbiz.de/10011565652
In this paper, we analyze coordination of macroeconomic stabilization policies within the EMU by focusing, in a dynamic set-up, on asymmetries, externalities, and the existence of a multi-country context. We study how coalitions among fiscal and monetary authorities are formed and what are their...
Persistent link: https://www.econbiz.de/10011410410
climate damage asymmetry tends to discourage cooperation in the grand coalition. The effects of fuel-demand asymmetry depend … on fossil fuel abundance. If fuel is very abundant, the grand coalition fails to be stable independent of the degree of … higher degrees of asymmetry stabilize the grand coalition. …
Persistent link: https://www.econbiz.de/10010428830
game approach of the endogenous coalition formation literature. The specific policy recommendations in the EMU context …
Persistent link: https://www.econbiz.de/10002572274
distribution of cost shares that motivates some coalition of agents to separate and to block an initially given Pareto optimal … allocation which can be interpreted as the outcome of a negotiation process when all agents form a grand coalition …
Persistent link: https://www.econbiz.de/10003983187
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
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
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