Consider an environment with widespread externalities, and suppose that binding agreements can be written. We study …

welfare effects of small policy changes in the presence of transport externalities. The model incorporates three types of … externalities: congestion, which has a feedback effect on the behaviour of the economic agents, air pollution and accidents. The … the equity effects of the policy reforms. The second contribution is related to the way in which the externalities are …

Economic theory has generally akcnowledged the role that institutions have in shaping economic space. The distinction … for externalities" is misleading since it tends to imply that there is more to externality than simply the non … detrimental nature of externality. Indeed, Arrow markets will not in general eliminate externalities. In a similar vein it is not …

This paper proposes a formulation of coalitional payoff possibilities in games with externalities, based on the …

Demange (1994, 2002), extend to partition function games with negative externalities. Under positive externalities, although …

paid by the winner. We study the impact of these price-externalities on the first-price auction and the second … independently from the identity of the winner. We prove that the first-price auction is not affected by this kind of price-externalities … by the presence of such price-externalities. In any case, in comparison with the first-price auction, the second …

externalities. An organization is defined as a group of agents, together with a set of bilateral relations, formally, a connected … graph. Because of the presence of externalities, the profitability of coalitional threats to an organization depend on the … externalities, while the fully connected organization emerges under negative. This result is shown to hold independently of the …

A pay-as-you-go pension scheme is associated with positive externalities of having children and providing them with …