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We study a simple contracting game with a principal and two agents. Contracts exert an externalities on non contractors …
Persistent link: https://www.econbiz.de/10014054349
environmental externalities such as pollution. We argue that consumer contracts generate externalities by overwhelming consumers … contracts would impose on consumers. This would force sellers to internalize these costs and incentivize them to invest in …, and comprehension rates would rise. To further penalize inefficient contracts while reducing the tax burden on efficient …
Persistent link: https://www.econbiz.de/10013307217
This paper views authority as the right to undertake decisions that have external effects on other members of the organization. Because of contractual incompleteness, monetary incentives are insufficient to internalize these effects in the decision maker's objective. The optimal assignment of...
Persistent link: https://www.econbiz.de/10010333808
This paper views authority as the right to undertake decisions that have external effects on other members of the organization. Because of contractual incompleteness, monetary incentives are insufficient to internalize these effects in the decision maker’s objective. The optimal...
Persistent link: https://www.econbiz.de/10005785919
This paper views authority as the right to undertake decisions that have external effects on other members of the organization. Because of contractual incompleteness, monetary incentives are insufficient to internalize these effects in the decision maker's objective. The optimal assignment of...
Persistent link: https://www.econbiz.de/10010366572
This paper studies the relation between optimal dam capacity and water management under rivalry uses and externalities …-linear building cost of dam capacity and externalities in a welfare optimization model. We obtain the optimal dam capacity for multi …
Persistent link: https://www.econbiz.de/10010421750
This paper studies an extensive form game of coalition formation with random proposers in games with externalities. It … the absence of externalities, and symmetric players are not necessarily treated symmetrically in equilibrium. If the grand …
Persistent link: https://www.econbiz.de/10012650908
The Covid-19 epidemic highlighted the significance of externalities: contacts with other people do not only affect our … with widespread externalities. The network function form generalises the partition function form of cooperative games in … involvement of more players allows for the - partial - internalisation of the externalities, but we also allow residual players to …
Persistent link: https://www.econbiz.de/10012253697
We delineate the various ways in which rights to environmental and other resources can be assigned to individuals or groups. We then examine models of individual and group interactions, drawing out their implications for the ways in which resources will be utilized and managed under various...
Persistent link: https://www.econbiz.de/10014023942
The paper applies the notions of network cost and efficiency, drawn from complex network theory, to fully characterize the classic “market versus firm” dichotomy of Coase 1937. Thanks to network analysis, the latter emerges as a wider issue which touches every system of interconnected agents...
Persistent link: https://www.econbiz.de/10013131544