Narrow search
Showing 1 - 10 of 12,503
Cover Image
Auctions under Payoff Uncertainty: The Case with Heterogeneous Bidder-Aversion to Downside Risk
Hu, Audrey; Zou, Liang - 2008
This paper characterizes the optimal first-price auction (FPA) and second-price auction (SPA) for selling rights, contracts, or licenses that involve ensuing payoff uncertainty for the winning bidder. The distribution of the random payoff is common knowledge, except that bidders have private...
Persistent link: https://www.econbiz.de/10010325804
Cover Image
Regulation of morally responsible agents with motivation crowding
Fünfgelt, Joachim; Baumgärtner, Stefan - 2012
We study the regulation of a morally responsible agent in the context of a negative consumption externality and motivation crowding. In particular, we analyze how various governmental interventions affect the agent's motivation to assume moral responsibility. Employing a motivation-crowding...
Persistent link: https://www.econbiz.de/10010294483
Cover Image
Testing the Pareto efficiency of household resource allocations
Apps, Patricia; Rees, Ray - 2008
inefficiency of a household resource allocation does not however refute the hypothesis that it chooses this resource allocation as … necessary to show that the observed allocation does not represent a second best optimum. For this it will be necessary to show … the allocation does not hold. …
Persistent link: https://www.econbiz.de/10010264378
Cover Image
An Afriat theorem for the collective model of household consumption
Cherchye, Laurens; De Rock, Bram; Vermeulen, Frederic - 2008
nature of consumption externalities (positive or negative) in the intra-household allocation process is non-testable. The …
Persistent link: https://www.econbiz.de/10010269151
Cover Image
Linking of Repeated Games. When Does It Lead to More Cooperation and Pareto Improvements?
von Mouche, Pierre; Folmer, Henk - 2007
Linking of repeated games and exchange of concessions in fields of relative strength may lead to more cooperation and to Pareto improvements relative to the situation where each game is played separately. In this paper we formalize these statements, provide some general results concerning the...
Persistent link: https://www.econbiz.de/10010312472
Cover Image
A utilitarian notion of responsibility for sustainability
Fünfgelt, Joachim; Baumgärtner, Stefan - 2012
still exists a responsible allocation which is also Pareto-efficient. Further, the utilitarian welfare maximum without …
Persistent link: https://www.econbiz.de/10010281771
Cover Image
Efficient Allocation of Land between Productive Use and Recreational Use - An Application to Galician Case
Giménez, Eduardo L.; González-Gómez, Manuel - 2001
In this paper the efficient allocation of natural recreational areasis analysed. Natural recreational areas have the … features of publicgoods. We present the efficient allocation of this non-excludablepublic good in a rational general …
Persistent link: https://www.econbiz.de/10010324764
Cover Image
Dynamic Efficiency and Pareto Optimality in a Stochastic OLG Model with Production and Social Security
Barbie, Martin; Hagedorn, Marcus; Kaul, Ashok - 2000
We analyze the interaction between risk sharing and capital accumulation in a stochastic OLG model with production. We give a complete characterization of interim Pareto optimality. Our characterization also subsumes equilibria with a PAYG social security system. In a competitive equilibrium...
Persistent link: https://www.econbiz.de/10010262415
Cover Image
When inefficiency begets efficiency
Gersbach, Hans; Haller, Hans - 2003
Collective consumption decisions taken by the members of a household may prove inefficient. The impact of such inefficient household decisions on market performance is investigated. At one extreme, market efficiency can occur even when household decisions are inefficient, namely when household...
Persistent link: https://www.econbiz.de/10010292768
Cover Image
Serial dictatorship: The unique optimal allocation rule when information is endogenous
Bade, Sophie - 2012
acquisition into otherwise standard house allocation problems. I find that there is a unique ex ante Pareto-optimal, strategy …-proof and non-bossy allocation mechanism: serial dictatorship. This stands in sharp contrast to the very large set of such … mechanisms for house allocation problems without endogenous information acquisition. …
Persistent link: https://www.econbiz.de/10010323865