Nach dem Referendum am 17. März hat Präsident de Klerk freie Hand für eine Fortsetzung seiner Reformpolitik. Damit ist aber noch nicht sichergestellt, daß die inländische Investitionsbereitschaft zunimmt und das Vertrauen des Auslands in die südafrikanische Wirtschaft wiederhergestellt...

We modify the payment rule of the standard divide the dollar (DD) game by introducing a second stage and thereby resolve the multiplicity problem and implement equal division of the dollar in equilibrium. In the standard DD game, if the sum of players’ demands is less than or equal to a...

In a correlated equilibrium, the players’ choice of actions is directed by correlated random messages received from an outside source, or mechanism. These messages allow for more equilibrium outcomes than without any messages (pure-strategy equilibrium) or with statistically independent ones...

In this study, we provide a new solution for cooperative games with coalition structures. The collective value of a player is defined as the sum of the equal division of the pure surplus obtained by his coalition from the coalitional bargaining and of his Shapley value for the internal...

Practical or legal constraints often restrict auctions to being symmetric (anonymous and nondiscriminatory). We examine when this restriction prevents a seller from achieving his objectives. In an independent private value setting with heterogenous buyers, we characterize the set of incentive...

We implement a family of efficient proposals to share benefits generated in environments with externalities. These proposals extend the Shapley value to games with externalities and are parametrized through the method by which the externalities are averaged. We construct two slightly different...

There is an inherent tension between implementing organizations.which have specific objectives and narrow missions and mandates.and executive organizations.which provide resources to multiple implementing organizations. Ministries of finance/planning/budg