Showing 1 - 10 of 520
Neither marriage nor a legally enforceable contract serves any useful purpose if the parties have access to a perfect credit market. In the presence of credit rationing, efficiency and utility equalization are guaranteed only by a legally enforceable contract. Separate-property marriage may...
Persistent link: https://www.econbiz.de/10010227229
We propose the "average approach," where the worth of a coalition is a weighted average of its worth for different …
Persistent link: https://www.econbiz.de/10011509414
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 … which the bidders' final utility possibly depends on the winner's identity. We show that such direct externalities offer a …
Persistent link: https://www.econbiz.de/10003974150
policy. To this end, we expand the modest coalition formation game, in which countries first decide on whether to join an … joining the IEA set emissions to internalize some exogenously given fraction of the externalities that own emissions cause on … and emissions. We find that strategic delegation crowds out all efforts to increase coalition sizes by less ambitious …
Persistent link: https://www.econbiz.de/10012388125
policy. To this end, we expand the modest coalition formation game, in which countries first decide on whether to join an … joining the IEA set emissions to internalize some exogenously given fraction of the externalities that own emissions cause on … and emissions. We find that strategic delegation crowds out all efforts to increase coalition sizes by less ambitious …
Persistent link: https://www.econbiz.de/10013326522
We consider rules (strategies, commitments, contracts, or computer programs) that make behavior contingent on an opponent's rule. The set of perfectly observable rules is not well defined. Previous contributions avoid this problem by restricting the rules deemed admissible. We instead limit the...
Persistent link: https://www.econbiz.de/10010437999
We introduce a model of product development in a firm. Our model describes the process as a multi-stage contest (i.e., race) with an endogenous length (with one stage or two stages) between two workers. We model the payments to workers from the new product using the normatively appealing Nash...
Persistent link: https://www.econbiz.de/10012165947
This paper examines the reflexive interplay between individual decisions and social forces to analyze the evolution of cooperation in the presence of "multi-directedness," whereby people's preferences depend on their psychological motives. People have access to multiple, discrete motives....
Persistent link: https://www.econbiz.de/10011431001
This study explores mechanism design with allocation-based social preferences. Agents' social preferences and private payoffs are all subject to asymmetric information. We assume quasi-linear utility and independent types. We show how the asymmetry of information about agents' social preferences...
Persistent link: https://www.econbiz.de/10013255847
coalition with the agents who most desire, or least desire, the public good, and we may observe 'strange bedfellow' coalitions …
Persistent link: https://www.econbiz.de/10014500614