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We consider collective decisions made by agents whose preferences and power depend on past events and decisions. Faced with an ineffcient equilibrium and an opportunity to commit to a policy, can the agents reach an agreement on such a policy? Under an intuitive condition linking power...
Persistent link: https://www.econbiz.de/10011375836
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It has long been known that when agents have von Neumann-Morgenstern preferences over lotteries, there is an incompatibility between strategy-proofness and efficiency (Gibbard, [9]; Hylland, [12]) - a solution satisfying those properties must be dictatorial. We strengthen this result by showing...
Persistent link: https://www.econbiz.de/10014194818
We study decision making processes with non-standard all-pay structures. We motivate this interest through a group of regulatory, political, legal, military, and economic applications where individual actions determine the consequences for a larger group or the public. The common features of...
Persistent link: https://www.econbiz.de/10009766675
Traditional power indices ignore preferences and strategic interaction. Equilibrium analysis of particular non-cooperative decision procedures is unsuitable for normative analysis and assumes typically unavailable information. These points drive a lingering debate about the right approach to...
Persistent link: https://www.econbiz.de/10011410230
We study decision making processes with non-standard all-pay structures. We motivate this interest through a group of regulatory, political, legal, military, and economic applications where individual actions determine the consequences for a larger group or the public. The common features of...
Persistent link: https://www.econbiz.de/10013315736
We study the political economy of the environment in autocratic, weak and strong democracies when individuals can either mitigate the health consequences of domestic pollution privately or reduce pollution collectively through public policy. The setting is that of a small open economy in which...
Persistent link: https://www.econbiz.de/10013316137
This paper analyzes the a priori influence of the European Parliament (EP) and the Council of Ministers (CM) on legislation of the European Union adopted under its codecision procedure. In contrast to studies which use conventional power indices, both institutions are assumed to act...
Persistent link: https://www.econbiz.de/10013318840
This paper presents the preface and first chapter of my book on James M. Buchanan, which should be out in late 2017, published by Lexington. This chapter introduces Buchanan to those who don't know him, or who know him only in terms of individual pieces of work they have encountered. I portray...
Persistent link: https://www.econbiz.de/10012962764
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