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Dynamic collective choice with endogenous status quo
Dziuda, Wioletta; Loeper, Antoine - 2012 - First version: December 2009
This paper analyzes an ongoing bargaining situation in which preferences evolve over time and the previous agreement becomes the next status quo, determining the payoffs until a new agreement is reached. We show that the endogeneity of the status quo exacerbates the players' conflict of interest...
Persistent link: https://www.econbiz.de/10008748538
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Collective Choice in Dynamic Public Good Provision
Bowen, T. Renee - 2018
Two heterogeneous agents contribute over time to a joint project, and collectively decide its scope. A larger scope requires greater cumulative effort and delivers higher benefits upon completion. We show that the efficient agent prefers a smaller scope, and preferences are time-inconsistent: as...
Persistent link: https://www.econbiz.de/10012936889
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Strongly Rationalizable Virtual Implementation in Social Environments With Evidence
Cusumano, Carlo - 2020
This article investigates rationalizable implementation in social environments where agents can provide hard evidence on the private information they possess. Specifically, we study necessary and sufficient conditions for virtual implementation using a notion of Rationalizability that captures...
Persistent link: https://www.econbiz.de/10012824770
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On the Samaritan's Dilemma, foreign aid, and freedom
Faria, João Ricardo; Arce M., Daniel G. - In: Economies : open access journal 6 (2018) 4/53, pp. 1-17
This paper presents an extension of the two-period Samaritan’s Dilemma in order to analyze the potential for foreign aid to promote freedom. An example is the United States’ recent opening towards Cuba. It is shown that a donor nation’s dual concern for economic reforms and greater...
Persistent link: https://www.econbiz.de/10011956523
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Harnessing Reciprocity to Promote Cooperation and the Provisioning of Public Goods
Rand, David G.; Yoeli, Erez; Hoffman, Moshe - 2015
How can we maximize the common good? This is a central organizing question of public policy design, across political parties and ideologies. The answer typically involves the provisioning of public goods such as fresh air, national defense, and knowledge. Public goods are costly to produce but...
Persistent link: https://www.econbiz.de/10014037089
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Policy Competition, Imitation and Coordination Under Uncertainty
Hefeker, Carsten - 2022
The paper analyzes under what circumstances policymakers experiment with policies with uncertain outcomes, when they prefer to imitate policies initiated in other countries, and when they prefer to coordinate policies internationally. Policymakers have private costs of active policies and...
Persistent link: https://www.econbiz.de/10013289693
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Riskiness, risk aversion, and risk sharing: cooperation in a dynamic insurance game
Laczó, Sarolta (contributor) - 2008
This paper examines how cooperation in an insurance game depends on risk preferences and the riskiness of income. It … of the discount factor above which perfect risk sharing is self-enforcing. When agents face no aggregate risk, there is … of idiosyncratic and aggregate risk. In the case of exponential (isoelastic) utility, cooperation depends positively on …
Persistent link: https://www.econbiz.de/10003770693
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Networks and markets : the dynamic impacts of information, matching and transaction costs on global trade
Kumagai, Yuki - 2009
The purpose of this paper is to explore strategic incentives to use trade networks rather than markets and to shed light on the dynamic relations between two distinct trading systems: a formal system of markets and a decentralised system of networks. We investigate the issues by mainly focusing...
Persistent link: https://www.econbiz.de/10003898826
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Networks and markets : the dynamic impacts of information, matching and transaction costs on trade
Kumagai, Yuki - 2010
The purpose of this paper is to explore strategic incentives to use trade networks rather than markets and shed light on the dynamic relation between the two distinct trading systems: a formal system of markets and a issues in the infinitely repeated multi-player prisoner's dilemma...
Persistent link: https://www.econbiz.de/10003990204
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The rise and fall of the Great Fish Pact under endogenous risk of stock collapse
Walker, Adam N.; Weikard, Hans-Peter; Richter, Andries - 2015
Risk of stock collapse is a genuine motivation for cooperative fisheries management. We analyse the effect of an … endogenously determined risk of stock collapse on the incentives to cooperate in a Great Fish War model. We establish that … offset the increased benefits from cooperation due to the presence of endogenous risk and the Great Fish Pact returns to …
Persistent link: https://www.econbiz.de/10011287058