default, improved creditor coordination reduces ex ante efficiency and the interim efficient CAC threshold is higher than the …In a model with both issues of sovereign debtor moral hazard and creditor coordination under incomplete information, we … show that the resulting conflict between ex ante and interim efficiency limits the welfare impact of strengthening CACs …

experiment whether gossip affects the efficiency of human interactions. We let subjects play a trust game. Third parties observe … possibility of gossip is highly efficiency-increasing compared to a situation without any gossip. In two further control … treatments, we show that the mere fact of being observed by third parties cannot explain the efficiency-increasing effect of …

experiment whether gossip affects the efficiency of human interactions. We let subjects play a trust game. Third parties observe … possibility of gossip is highly efficiency-increasing compared to a situation without any gossip. In two further control … treatments, we show that the mere fact of being observed by third parties cannot explain the efficiency-increasing effect of …

I prove an efficiency result for repeated games with imperfect public monitoring in which one player's utility is … assumptions, the efficiency result partially extends to settings in which one player has private information that determines every …

This paper presents an experimental analysis of 2x2 coordination games in which player 1 earns a substantially higher … coordination on an efficient equilibrium, (2) a transfer from player 1 to player 2 is positive, and is higher when player 2 chooses … efficiency and equity of the final outcome. Furthermore, these tendencies are stronger when the two players have conflicting …

mechanism captures nearly all achievable efficiency gains, whereas repeated interaction leads to significant gains in truthful … representation and efficiency only in a setting where players can choose their partners. …

equity. This paper introduces three ways to consider efficiency and equity simultaneously. The first method, inspired by Kant …

introduced here, these two benchmark models appear as extreme cases.We study efficiency and Nash, strict Nash and pairwise Nash …

regions according to the availability of sources. Then the efficiency problem can be solved region by region. …