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satiable agents, i.e., the benefit function is decreasing beyond some satiation point. In such situations externalities appear … has an increasing benefit function (no externalities) then every weighted hierarchical solution is core-stable. In case of … satiation points, it appears that every weighted hierarchical solution is independent of the externalities. …
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general games. As a direct translation of the balanced cost reduction property, the axiom of balanced externalities for … possible to the idea behind balanced externalities, we weaken this axiom by requiring that every player's payoff is the same … fraction of its total externality inflicted on the other players. This weakening, which we call weak balanced externalities …
Persistent link: https://www.econbiz.de/10012487903
In economic environments, decision-makers can strategically delay irreversible investments to learn from the actions of others. This creates free-riding incentives and can lead to socially suboptimal outcomes. We experimentally examine if and how communication mitigates this free-riding problem...
Persistent link: https://www.econbiz.de/10014299600
costs of investment and all players learn whether the project is of good or bad quality. Informational externalities create …
Persistent link: https://www.econbiz.de/10013375345
projects and their externalities. We demonstrate our approach for the Mekong River incorporating expert hydrological knowledge …
Persistent link: https://www.econbiz.de/10011556226
This article presents a model of sequential decisions about investments in environmentally dirty and clean technologies, which extends the path-dependence framework of Arthur (1989). This allows us to evaluate if and how an economy locked into a dirty technology can be unlocked and move towards...
Persistent link: https://www.econbiz.de/10011382078
This paper discusses a number of issues that will become increasingly important nowthat the concept of marginal external cost pricing becomes more likely to be implementedas a policy strategy in transport in reality. The first part of the paper deals with thelong-run efficiency of marginal...
Persistent link: https://www.econbiz.de/10011299976
. However, if the programme generates externalities for non-participants such an approach will capture only part of the …
Persistent link: https://www.econbiz.de/10011343252