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Cheap Talk, Gullibility, and Welfare in an Environmental Taxation Game
Deissenberg, Christophe; Dawid, Herbert; Sevcik, Pavel - 2004
We consider a simple dynamic model of environmental taxation that exhibits time inconsistency. There are two categories of firms, Believers, who take the tax announcements made by the Regulator to face value, and Non-Believers, who perfectly anticipate the Regulator's decisions, albeit at a...
Persistent link: https://www.econbiz.de/10011325007
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Social Conformity and Bounded Rationality in Arbitrary Games with Incomplete Information: Some First Results
Cartwright, Edward; Wooders, Myrna - 2003
In has been frequently observed, in both economics and psychology, that individuals tend to conform to the choices of other individuals with whom thy identify. Can such conformity be consistent with self-interested behaviour? To address this question we use the framework of games with incomplete...
Persistent link: https://www.econbiz.de/10011325147
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Near-rational exuberance
Bullard, James; Evans, George W.; Honkapohja, Seppo - 2005
We study how the use of judgement or “add-factors” in macroeconomic forecasting may disturb the set of equilibrium outcomes when agents learn using recursive methods. We isolate conditions under which new phenomena, which we call exuberance equilibria, can exist in standard macroeconomic...
Persistent link: https://www.econbiz.de/10011604601
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Pareto-optimal matching allocation mechanisms for boundedly rational agents
Bade, Sophie - 2010
preferences. I investigate this question in an environment of matching allocation problems. There are two reasons for doing so … in any which way to obtain results on the welfare properties of trade. Secondly, some matching allocation mechanisms have …
Persistent link: https://www.econbiz.de/10010286707
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Efficient abatement in separated carbon markets: A theoretical and quantitative analysis of the EU emissions trading scheme
Peterson, Sonja - 2006
theoretical as well as the quantitative analysis, recommendations are derived for a better allocation of the reduction burden …
Persistent link: https://www.econbiz.de/10010273116
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Conformity and Bounded Rationality in Games with Many Players
Cartwright, Edward; Wooders, Myrna - 2003
Interpret a set of players all playing the same pure strategy and all with similar attributes as a society. Is it consistent with self interested behaviour for a population to organise itself into a relatively small number of societies? In a companion paper we characterised how large e must be,...
Persistent link: https://www.econbiz.de/10011325152
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Boundedly rational consumers, energy and investment literacy, and the display of information on household appliances
Blasch, Julia; Filippini, Massimo; Kumar, Nilkanth - 2016
It is an ongoing debate how to increase the adoption of energy-efficient light bulbs and household appliances in the presence of the so-called ’energy efficiency gap’. One measure to support consumers’ decision-making towards the purchase of more efficient appliances is the display of...
Persistent link: https://www.econbiz.de/10011753313
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Supply and Demand, Allocation and Wage Inequality: An International Comparison
Dupuy, Arnaud; Borghans, Lex - 2003
In this paper, we develop an allocation model of workers differentiated by their field of study to test whether … model explicitly takes into account the effects of supply and demand shifts on the allocation structure to disentangle …
Persistent link: https://www.econbiz.de/10010261618
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Allocation, externalities, and the fair division approach: an experimental study
Weiland, Torsten - 2008
We experimentally investigate four allocation mechanisms - all based on the fair division approach, with varying bid … elicitation methods and price rules - in terms of their allocation efficiency, distributional effects, and regularities in … complicating an efficient allocation. Indeed, observed bidding is dominated by strategic reporting which, however, only marginally …
Persistent link: https://www.econbiz.de/10010263876
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The Allocation of European Union Allowances: Lessons, Unifying Themes and General Principles
Buchner, Barbara K.; Carraro, Carlo; Ellerman, A. Denny - 2006
This paper is the concluding chapter of Rights, Rents and Fairness: Allocation in the European Emissions Trading Scheme … lessons and general principles to be learnt from the allocation of allowances in the European Union Emission Trading Scheme … allocation process and on what are the global implications of the EU ETS. As has become obvious during the first allocation phase …
Persistent link: https://www.econbiz.de/10010312262