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Persistent link: https://www.econbiz.de/10009390815
We consider a model in which there is uncertainty over when a one-shot game will be played. We show how a mechanism designer can implement desirable outcomes in certain economic games by manipulating only the probability that the game is played in a given round while leaving all other aspects of...
Persistent link: https://www.econbiz.de/10005369246
In this paper, we provide axiomatic foundations for social choice rules on a domain of convex and comprehensive social choice problems when agents have cardinal utility functions. We translate the axioms of three well known approaches in bargaining theory (Nash 1950; Kalai and Smorodinsky 1975; Kalai...
Persistent link: https://www.econbiz.de/10005369255
We study a model with local public goods in which agents' crowding effects are formally distinguished from their taste types. It has been shown that the core of such an economy can be decentralized with anonymous admission prices (which are closely related to cost share prices). Unfortunately,...
Persistent link: https://www.econbiz.de/10005752928