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Democracy, markets and the commons: Towards a reconciliation of freedom and ecology

Peter, Lukas - 2021

How can we overcome the existing political, economic, and ecological crises that humanity faces? With the notion of the commons, Lukas Peter argues that this form of social organization can provide answers to the shortcomings of centralized states and open and competitive markets. By building on...

Persistent link: https://www.econbiz.de/10014280315

Order, displacements and recurring financial crises

Hoffmann, Andreas; Urbansky, Björn - 2012

The paper describes boom-and-bust cycles within Hayek's framework of order and aims to provide an understanding of recurring crises in recent financial history. We argue that a boom-and-bust cycle is initiated by a displacement that lowers the degree of (ex-post) plan coherence (or order) in an...

Persistent link: https://www.econbiz.de/10010309229

Endogenous Price Mechanisms,Capture and Accountability Rules: Theory and Evidence

Guerriero, Carmine - 2006

This paper analyzes the constitutional determinants of cost reimbursement rules. In order to design the optimal incentive schemes, a possibly partisan planner will take into account the market cost structure, the institutional design of the supervision hierarchical structure and its technology....

Persistent link: https://www.econbiz.de/10010312604

Complementary Platforms

Reynaerts, Jo; Van Cayseele, Patrick - 2007

successful completion of a transaction. The model developed is a natural extension of the Cournot-Ellet theory of complementary … however is not monopoly pricing, indicating that there also exist differences with the received theory of complementarity. …

Persistent link: https://www.econbiz.de/10010313416

Competitive Markets without Commitment

Netzer, Nick; Scheuer, Florian - 2008

In the presence of a time-inconsistency problem with optimal agency contracts, we show that competitive markets implement allocations that Pareto dominate those achieved by a benevolent planner, they induce strictly more effort, and they sometimes make the commitment problem disappear entirely....

Persistent link: https://www.econbiz.de/10010315537

Stabilizing the economy: Market design and general equilibrium

Goeree, Jacob K.; Lindsay, Luke - 2012

Review, 1960). Tatonnement theory predicts that prices are globally unstable for this economy, i.e. unless prices start at … the competitive equilibrium they oscillate without converging. Anderson et al. (Journal of Economic Theory, 2004) report … convergence. We replicate their experiments and confirm that tatonnement theory predicts the direction of price changes remarkably …

Persistent link: https://www.econbiz.de/10010316891

Helping the invisible hand: A theory of endogenous mutual concern

Kolmar, Martin - 2001

This paper develops a theory of endogenous mutual concern. The mutual concern or the morality of economic agents is …

Persistent link: https://www.econbiz.de/10010318859

Competitive outcomes and the core of TU market games

Brangewitz, Sonja; Gamp, Jan-Philip - 2011

We investigate the relationship between certain subsets of the core for TU market games and competitive payoff vectors of certain markets linked to that game. This can be considered as the case in between the two extreme cases of Shapley and Shubik (1975). They remark already that their result...

Persistent link: https://www.econbiz.de/10010319963

Learning in infinite horizon strategic market games with collateral and incomplete information

Brangewitz, Sonja; Giraud, Gaël - 2011

We study a strategic market game with finitely many traders, infinite horizon and real assets. To this standard framework (see, e.g. Giraud and Weyers, 2004) we add two key ingredients: First, default is allowed at equilibrium by means of some collateral requirement for financial assets; second,...

Persistent link: https://www.econbiz.de/10010319983

Competitive outcomes and the inner core of NTU market games

Brangewitz, Sonja; Gamp, Jan-Philip - 2011

We consider the inner core as a solution concept for cooperative games with non- transferable utility (NTU) and its relationship to competitive equilibria of markets that are induced by an NTU game. We investigate the relationship between certain subsets of the inner core for NTU market games...

Persistent link: https://www.econbiz.de/10010319985