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Uncertainty faced by individual firms appears to be heterogeneous. In this paper, I construct new empirical measures of firm-level uncertainty using data from the I/B/E/S and Compustat. These new measures reveal persistent differences in the degree of uncertainty facing individual firms not...
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competitiveness and sufficiently separates individuals who choose different effort levels, the market allocation is Pareto superior to … a social planner’s allocation. We construct a specific market game that naturally generates robust equilibria with these …
Persistent link: https://www.econbiz.de/10003894094
Many water allocation agreements in transboundary river basins are inherently unstable. Due to stochastic river flow …, agreements may be broken in case of drought. The objective of this paper is to analyse whether water allocation agreements can be … self-enforcing. An agreement is modelled as the outcome of bargaining game on river water allocation. Given this agreement …
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appropriate when the current schedule of water allocation is considered unfair. Our proposed approach is based on the combination …
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Problem ; Sequential Sharing Rule ; Bankruptcy Problem ; Water Allocation …
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systems, called hybrid output-based allocation (OBA). We demonstrate that unlike many of the allocation methods currently … alternatives to produce cement; and finally it reduces excess allocation and reduces incentives to inflate production volumes to …
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