The extent of voluntary cooperation in the presence of externalities is shown as an equilibrium outcome in the supply … prices. Voluntary cooperation can have a far different incidence than Pigouvian taxes and subsidies while changing the … character of the costs resulting from externalities. The paper discusses applications including forest management, volume …

commit to contracts, virus externalities are local, and competitive equilibria are efficient. The Second Welfare Theorem also … their infection status. If society cannot control virus exposure, then virus externalities are global and competitive … externalities and result in inefficiently high economic activity. If agents cannot commit, competitive equilibria are inefficient …

show that, in the presence of such spillovers to non-users, standard measures that take aggregate consumption as given fail … spillovers, which we apply to estimate the consumer surplus of two popular social media platforms, TikTok and Instagram. In large … surplus, our measure accounting for consumption spillovers indicates a negative surplus, with a large share of active users …

exporters generate positive spillovers for domestically-oriented producers? In this paper we analyze the causal links between … costs are not affected by previous export market participation. So the well-known efficiency gap between exporters and non …