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The world is experiencing significant, largely economic and sociotechnical, induced change. These induced changes are meaningful with a function of people taking collective actions around common beliefs. These changes are more than jargon, cliché and hyperbole, and they are effecting major...
Persistent link: https://www.econbiz.de/10011118521
evolutionary game, and the growth mechanism described, in which growth is caused by negative externalities. The emphasis in this … growth mechanism is evidently different from that placed on positive externalities by current endogenous growth models. In … environmental resource is subject to negative externalities, that is, it is deteriorated by the production of the output. Faced with …
Persistent link: https://www.econbiz.de/10005836025
In this paper we incorporate interdisciplinary New Institutional and Transaction Costs Economics (combining Economics, Organization, Law, Sociology, Behavioral and Political Sciences), and suggest a framework for analyzing and improvement of governance of socio-economics dynamic of agriculture....
Persistent link: https://www.econbiz.de/10008587477
This paper examines the positions of Coase and Pigou in regard to the problem of external effects (externalities … 1960, Coase’s theory has been developed and has become a pillar of tort law and economics. Pigou proposed a tax as an …
Persistent link: https://www.econbiz.de/10011260441
" outcome is broadly established and accepted, but elaborations to encompass games with externalities (represented by partition …
Persistent link: https://www.econbiz.de/10005790052
In this paper, we introduce interdependent preferences to a classical one-to-one matching problem that allows for the prospect of being single, and study the existence and properties of stable matchings. We obtain the relationship between the stable set, the core, and the Pareto set, and give a...
Persistent link: https://www.econbiz.de/10005836394
trade in ex ante asset backed securities) creates externalities, as spot prices (or security prices) and the bindingness of …
Persistent link: https://www.econbiz.de/10008552792
This paper studies the efficiency of competitive equilibria in environments with a moral hazard problem and unobserved states, both with retrading in ex post spot markets. The interaction between private information problems and the possibility of retrade creates an externality, unless...
Persistent link: https://www.econbiz.de/10008552807
Two individuals may choose to enter a coresidential relationship, which may or may not include joint property ownership and raising children. In addition to that, individuals may decide to formalize this contractual relationship by holding a marriage ceremony. The literature on coresidential...
Persistent link: https://www.econbiz.de/10008468155
Weitzman (1976) provides a foundation for net national product of a competitive economy as the annuity equivalent of the present discounted value of maximized consumption. This paper considers how Weitzman's rule should be modified if the competitive equilibrium is affected by the presence of...
Persistent link: https://www.econbiz.de/10005105915