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Asymmetric Nash Solutions in the River Sharing Problem
Houba, Harold; van der Laan, Gerard; Zeng, Yuyu - 2013
We study multiple agents along a general river structure that is expressed by a geography matrix and who have access to limited local resources, quasi-linear preferences over water and money and cost functions dependent upon river inflow and own extraction. Unanimity bargaining determines the...
Persistent link: https://www.econbiz.de/10014159278
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Hard bargains and lost opportunities
Binmore, Ken; Prouix, Chris; Samuelson, Larry; … - 1995
We examine an Outside Option Game in which player I submits a claim for a share of a cake while player II simultaneously either makes a claim or chooses to opt out. If player II opts out, then she receives an opt-out payment while player I receives nothing. If player II opts in and if the claims...
Persistent link: https://www.econbiz.de/10009693904
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A theory of government procrastination
Furusawa, Taiji; Lai, Edwin L.-C. - 2011
We present a theory to explain government procrastination as a consequence of its present-bias resulting from the political uncertainty in a two-party political system. We show that under a two-party political system the party in office tends to be present-biased. This may lead to inefficient...
Persistent link: https://www.econbiz.de/10009412378
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Politics With(Out) Coase
Luppi, Barbara - 2012
Political markets may be curative of political externalities, yet they are often unviable due to the presence of … bargaining externalities. In this paper we study the extent to which the choice of voting dimensions may affect the viability of … desirable in an ideal world of zero-transaction costs, is almost unavoidably affected by bargaining externalities …
Persistent link: https://www.econbiz.de/10013113867
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A Theory of Government Procrastination
Furusawa, Taiji - 2011
We present a theory to explain government procrastination as a consequence of its present-bias resulting from the political uncertainty in a two-party political system. We show that under a two-party political system the party in office tends to be present-biased. This may lead to inefficient...
Persistent link: https://www.econbiz.de/10013117258
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Kantian Optimization, Social Ethos, and Pareto Efficiency
Roemer, John E. - 2012
simple economic models, when there are negative externalities (such as congestion effects from use of a commonly owned … resource) or positive externalities (such as a social ethos reflected in individuals' preferences), Kantian equilibria dominate …
Persistent link: https://www.econbiz.de/10013109205
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Mechanism Design with Multidimensional, Continuous Types and Interdependent Valuations
Miller, Nolan H. - 2008
We consider the mechanism design problem when agents' types are multidimensional and continuous, and their valuations are interdependent. If there are at least three agents whose types satisfy a weak correlation condition, then for any decision rule there exist balanced transfers that render...
Persistent link: https://www.econbiz.de/10012726866
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Efficient and Envy Minimal Matching
Abdulkadiroglu, Atila - 2020
In priority-based matching problems, there is a trade-off between efficiency andreducing justified-envy. We show that finding an efficient and justified-envy minimalmatching is an NP-hard problem when objects have weak priority rankings. Consequently, we focus on resolving the trade-off in a...
Persistent link: https://www.econbiz.de/10012828839
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Green Eggs and Ham : The CISG, Path Dependence, and the Behavioural Economics of Lawyers’ Choices of Law in International Sales Contracts
Spagnolo, Lisa - 2022
Why do lawyers in some jurisdictions continue to ‘automatically’ exclude the 1980 UN Convention on Contracts for the International Sale of Goods (CISG) in their choices of law for international sales contracts? Why do lawyers in other jurisdictions approach the decision very differently? Why...
Persistent link: https://www.econbiz.de/10014192105
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Self Confidence : Intrapersonal Strategies
Bénabou, Roland; Tirole, Jean - 2010
This paper analyzes the self-identification process and its role in motivation. We build a model of self-confidence where people have imperfect knowledge about their ability, which in most tasks is a complement to effort in determining performance. Higher self-confidence thus enhances...
Persistent link: https://www.econbiz.de/10014161487