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von Neumann-Morgenstern farsightedly stable sets in two-sided matching
Mauleon, Ana; Vannetelbosch, Vincent J.; Vergote, Wouter - In: Theoretical economics : TE ; an open access journal in … 6 (2011) 3, pp. 499-521
We adopt the notion of von Neumann-Morgenstern (vNM) farsightedly stable sets to determine which matchings are possibly stable when agents are farsighted in one-to-one matching problems. We provide the characterization of vNM farsightedly stable sets: a set of matchings is a vNM farsightedly...
Persistent link: https://www.econbiz.de/10011691082
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Judicial precedent as a dynamic rationale for axiomatic bargaining theory
Fleurbaey, Marc; Roemer, John E. - In: Theoretical economics : TE ; an open access journal in … 6 (2011) 2, pp. 289-310
Axiomatic bargaining theory (e.g., Nash's theorem) is static. We attempt to provide a dynamic justification for the theory. Suppose a Judge or Arbitrator must allocate utility in an (infinite) sequence of two-person problems; at each date, the Judge is presented with a utility possibility set in...
Persistent link: https://www.econbiz.de/10011694978
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Climate change sustainability : from bargaining to cooperative balanced approach
Ciano, Tiziana; Ferrara, Massimiliano; Gangemi, Mariangela - In: Games 12 (2021) 2, pp. 1-13
This work aims to provide different perspectives on the relationships between cooperative game theory and the research field concerning climate change dynamics. New results are obtained in the framework of competitive bargaining solutions and related issues, moving from a cooperative approach to...
Persistent link: https://www.econbiz.de/10012547760
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Contract, renegotiation, and hold up : results on the technology of trade and investment
Buzard, Kristy; Watson, Joel - In: Theoretical economics : TE ; an open access journal in … 7 (2012) 2, pp. 283-322
, and renegotiation. Trade actions are modeled as individual and trade-action-based option contracts ("non-forcing contracts … that, with ex post renegotiation, constraining parties to use "forcing contracts" implies a strict reduction in the set of …
Persistent link: https://www.econbiz.de/10011690733
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Information, evolution and utility
Samuelson, Larry; Swinkels, Jeroen M. - In: Theoretical economics : TE ; an open access journal in … 1 (2006) 1, pp. 119-142
Human utility embodies a number of seemingly irrational aspects. The leading example in this paper is that utilities often depend on the presence of salient unchosen alternatives. Our focus is to understand <i>why</i> an evolutionary process might optimally lead to such seemingly dysfunctional features...
Persistent link: https://www.econbiz.de/10011704445
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Renegotiation of long‐term contracts as part of an implicit agreement
Kostadinov, Rumen - In: Theoretical economics : TE ; an open access journal in … 16 (2021) 4, pp. 1471-1512
I study a repeated principal-agent game with long‐term output contracts that can be renegotiated at will. Actions are … contracts are designed to punish deviations in noncontractible behavior. If the equilibrium actions are observed, these … contracts are renegotiated away. This form of anticipated renegotiation results in welfare improvements over outcomes attainable …
Persistent link: https://www.econbiz.de/10012806553
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Agency theory meets matching theory
Macho-Stadler, Inés; Pérez-Castrillo, J. David - In: SERIEs : Journal of the Spanish Economic Association 12 (2021) 1, pp. 1-33
for analyzing optimal incentive contracts within a general equilibrium framework. We propose several models that study the …
Persistent link: https://www.econbiz.de/10012503888
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Une théorie normative des contrats Etat-entreprises
Laffont, Jean-Jacques - In: Annales d'économie et de statistique 1 (1986), pp. 107-132
Persistent link: https://www.econbiz.de/10001011834
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Mutual monitoring and best agency contracts
Fischer, Paul E. - In: Journal of institutional and theoretical economics : JITE 153 (1997) 2, pp. 334-355
Persistent link: https://www.econbiz.de/10001221409
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Information and the persistence of private-order contract enforcement institutions : an experimental analysis
Wilkening, Tom - In: European economic review : EER 89 (2016), pp. 193-215
Persistent link: https://www.econbiz.de/10011770940