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This paper explores the role of multilateral transfers in achieving strict Pareto improvements in welfare, focusing on … strict Pareto improvements in welfare may arise from multilateral income transfers when either trade or carbon taxes are …
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welfare gains (Pareto improvements) when emission targets deviate from the global welfare optimum, and there are impediments … is shown that strict Pareto improvements in welfare may arise from multilateral financial transfers when either trade or …
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A group of agents wants to reform the status quo if and only if this is Pareto improving. Agents have private information and may have common or private objectives, which creates a tension between information aggregation and minority protection. We analyze a simple voting system - majority rule...
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