This introduces the symposium on general equilibrium.

We study a continuous-time problem of optimal public good contribution under uncertainty for an economy with a finite number of agents. Each agent can allocate his wealth between private consumption and repeated but irreversible contributions to increase the stock of some public good. We study...

In a local interaction model agents situated on a circle play bilateral prisoners' dilemmas with their immediate neighbors and have three possible strategies: cooperate in all interactions (altruistic), defect in all interactions (egoistic), or cooperate with one immediate neighbor with...

The paper applies and elaborates contractual approach to study economies with a production sector. Economies with convex, non-convex production and with public goods are considered. The notions and terms of barter contractual approach developed in Marakulin (2003a) for exchange economies are now...

In a production economy, multiple public goods are produced by firms in competitive markets, and provided by the government together with contributions from consumers. There are widespread externalities: all consumers' consumption and contributions and all firms' production enter into utility...

Theoretical models have had difficulties to account, at the same time, for the most important stylized facts observed in experiments of the Voluntary Contribution Mechanism. A recent approach tackling that gap is Arifovic and Ledyard (2012), which implements social preferences in tandem with an...

We characterise the entire set of symmetric stationary Markov-perfect Nash equilibria (MPE) in a differential game of public good investment, using the canonical problem of climate change as an example. We provide a sufficient and necessary condition for MPE and show how the entire set of MPE is...

Fershtman and Nitzan (1991) presented a continuous dynamic public good game model and solved the model for feedback Nash-equilibria. Wirl (1996) extended the model and considered nonlinear strategies. Both models do not include uncertainty and hence neglect an important factor in the theory of...

We characterise the entire set of symmetric stationary Markov-perfect Nash equilibria (MPE) in a differential game of public good investment, using the canonical problem of climate change as an example. We provide a sufficient and necessary condition for MPE and show how the entire set of MPE is...

Often in cooperative situations, many aspects of the decision-making environment are uncertain. We investigate how cooperation is shaped by the way information about risk is presented (from description or from experience) and by differences in risky environments. Drawing on research from risky...