This paper studies infinite-horizon bargaining between a seller and multiple buyers when externalities are present. We … externalities. Since each buyer receives a positive payoff when the seller makes an agreement with some other buyer, positive … externalities induce a war of attrition between buyers. …

When agents face coordination problems their choices often impose externalities on third parties. We investigate … whether such externalities can affect equilibrium selection in a series of one-shot coordination games varying the size and … the sign of the externality. We find that third-party externalities have a limited effect on decisions. A large majority …

We investigate externalities in higher education enrollment over the course of development in a two-sector model. Each … acquiring human capital. Both sectors exhibit productivity externalities in the size of the skill-specific labor and in the …

growth and harm future generations. On the other hand, competitive equilibria are inefficient if externalities sustain long …

This paper studies externalities of nationally determined cost-sharing systems, in particular coinsurance rates …