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claims. We focus on market-based allocation rules that impose a two-step procedure: assignment of rights based on claims …-assignment rules that guarantee that the allocation rules are fair. We apply our results to problems of greenhouse gas emissions and …
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(unit-demand). We focus on allocation rules satisfying individual rationality, no subsidy, efficiency, and strategy …We consider the multi-object allocation problem with monetary transfers where each agent obtains at most one object …
Persistent link: https://www.econbiz.de/10012581496
study focuses on the multi-object allocation problem with monetary transfers where each agent obtains at most one object … adjusted to v on the classical domain is the only rule satisfying four desirable properties; efficiency, strategy- proofness … more general situation than them. Moreover, we characterize the minimum price Walrasian rules by efficiency, strategy …
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A method is proposed to estimate efficiency of aggregate investment in a transitional economy, using provincial panel … data from the People's Republic of China (PRC) as an experimental case. Inefficiency is defined on the basis of … institutional factors are separated out, there are clear signs of increasing allocative efficiency and receding growth in regional …
Persistent link: https://www.econbiz.de/10010529122
We investigate how adverse selection in the used capital market generates procyclical sales of used capital -- capital reallocation. In our model, adverse selection produces a resale discount for used capital. In equilibrium, this endogenous partial irreversibility is more severe in recessions...
Persistent link: https://www.econbiz.de/10010483664
We analyze the role of optimal income taxation across different local labor markets. Should labor in large cities be taxed differently than in small cities? We find that a planner who needs to raise revenue and is constrained by free mobility of labor across cities does not choose equal taxes...
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