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Premuneration Values and Investments in Matching Markets

Mailath, George J. - 2015

We analyze a model in which agents make investments and then match into pairs to create a surplus. The agents can make transfers to reallocate their pretransfer ownership claims on the surplus. Mailath, Postlewaite and Samuelson (2013) showed that when investments are unobservable, equilibrium...

Persistent link: https://www.econbiz.de/10013014265

Investment and Competitive Matching

Nöldeke, Georg - 2014

. Equilibrium investments and the equilibrium matching will be efficient if agents can simultaneously negotiate investments and … matches, but we focus on markets in which agents must first sink their investments before matching. Additional equilibria may … arise in this sunk-investment setting, even though our matching market is competitive. These equilibria exhibit …

Persistent link: https://www.econbiz.de/10013055470

Equality of Opportunity

Roemer, John E. - 2013

This forthcoming chapter in the Handbook of Income Distribution (eds., A. Atkinson and F. Bourguignon) summarizes the literature on equality of opportunity. We begin by reviewing the philosophical debate concerning equality since Rawls (sections 1 and 2), present economic algorithms for...

Persistent link: https://www.econbiz.de/10013073893

What Is Socialism Today? Conceptions of a Cooperative Economy

Roemer, John E. - 2020

Socialism is back on the political agenda in the United States. Politicians and some economists who identify as socialists, however, do not discuss property relations, a topic that was central in the intellectual history of socialism, but rather limit themselves to advocacy of economic reforms,...

Persistent link: https://www.econbiz.de/10012843259

A Design for Market Socialism

Roemer, John E. - 2017

Socialism is conceptualized as a society in which individuals cooperate, distinguished from capitalism, characterized as involving ubiquitous economic competition. Here, I embed a formal model of cooperation in an Arrow-Debreu model, using the Kantian optimization protocol, and define a...

Persistent link: https://www.econbiz.de/10012955164

Global Unanimity Equilibrium on the Carbon Budget

Llavador, Humberto - 2019

Carbon budgets are a useful way to frame the climate mitigation challenge and much easier to agree upon than the allocation of emissions. We propose a mechanism with countries agreeing on the global carbon budget, while the decision to emit is decentralized at the country level. The revenue is...

Persistent link: https://www.econbiz.de/10012889580

Overlapping Generations Models of General Equilibrium

Geanakoplos, John - 2008

The OLG model of Allais and Samuelson retains the methodological assumptions of agent optimization and market clearing from the Arrow-Debreu model, yet its equilibrium set has different properties: Pareto inefficiency, indeterminacy, positive valuation of money, and a golden rule equilibrium in...

Persistent link: https://www.econbiz.de/10012771788

Mediation and Peace

Horner, Johannes - 2010

This paper brings mechanism design to the study of conflict resolution in international relations. We determine when and how unmediated communication and mediation reduce the ex ante probability of conflict, in a simple game where conflict is due to asymmetric information. Unmediated...

Persistent link: https://www.econbiz.de/10013139372

The Present and Future of Game Theory

Shubik, Martin - 2011

A broad nontechnical coverage of many of the developments in game theory since the 1950s is given together with some comments on important open problems and where some of the developments may take place. The nearly 90 references given serve only as a minimal guide to the many thousands of books...

Persistent link: https://www.econbiz.de/10013122625

What is a Solution to a Matrix Game

Shubik, Martin - 2012

These notes are provided to describe many of the problems encountered concerning both structure and behavior in specifying what is meant by the solution to a game of strategy in matrix or strategic form. In the short term in particular, it is often reasonable for the individual to accept as...

Persistent link: https://www.econbiz.de/10013103909