Several relaxations of Nash equilibrium are shown to exist in strategic games with discontinuous payoff functions. Those relaxations are used to extend and unify several recent results and link Reny's better-reply security condition [Reny, P.J. (1999). On the existence of Pure and Mixed Strategy...

The existing literature on credence goods and expert services has overlooked the importance of risk aversion. In this paper we extend a standard expert model of credence goods with verifiable service quality by considering risk-averse consumers. Our results show that the presence of risk...

This paper focuses on the real - as opposed to the monetary - side of the economy to explain price dynamics in Japan between 1981 and 2001. We use a panel industry dataset to examine the impact of institutional and structural factors on the heterogeneous price dynamics in 10 manufacturing...

European countries have increased their use of environmental tax instruments by designing new tax bases. But, many countries have to face the opposition of the public opinion, for fear of the distributive consequences of these environmental tax reforms. This paper sheds light on the distributive...

We provide a generalization of Harsanyi (1955)'s aggregation theorem to the case of incomplete preferences at the individual and social level. Individuals and society have possibly incomplete expected utility preferences that are represented by sets of expected utility functions. Under Pareto...

The ability to produce local public goods and services such as sharing savings, risk, insurance, sanitation and educational services, is a key fator for development. This ability, however, varies greatly across communities (Ostrom 1990 ; Khwaja 2009). Considering that this ability depends...

This note characterizes the optimal base for commodity taxation in the presence of administrative fixed costs varying across goods. For low tax rates, the optimal base only comprises commodities whose discouragement index is greater than the ratio of their administrative costs to the tax they...

We present a non-cooperative union-firm wage bargaining model in which the union must choose between strike and holdout if a proposed wage contract is rejected. The innovative element that our model brings to the existing literature on wage bargaining, concerns the parties' preferences which are...

We match migration data from the Indian census with climate data to test the hypothesis of climate variability as a push factor for internal migration. The main contribution of the analysis is to introduce relevant meteorological indicators of climate variability, based on the standardized...

With the emergence of the chaos theory and the method of surrogates data, nonlinear approaches employed in analysing time series typically suffer from high computational complexity and lack of straightforward explanation. Therefore, the need for methods capable of characterizing time series in...