We suggest a two-country, two-sector model as a basis for the control of global climate change in which the dynamic time path of the world economy is analysed under the provision that the outcomes of a negotiation game generate the global optimal solution.

Koray & Yildiz (2018) introduces a new framework for implementation in which the main tool to design is the rights structure introduced by Sertel (2001). It was assumed that there is only one stage to obtain the equilibrium outcome of a rights structure. We formulate implementation via two-stage...

We experimentally study unanimity and majority voting rules in multilateral bargaining environments with stochastic future surplus. In these settings, reaching agreement when expected future surplus is sufficiently higher than the current surplus is inefficient. Theoretically, such...