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, Gibbons and Murphy (2002). -- aggregate welfare ; theory of the firm ; relational contracting ; firm heterogeneity …
Persistent link: https://www.econbiz.de/10008822903
We set out a general framework for cooperative household models, based on Samuelson's idea of a household welfare function, but extending it to incorporate the key insight from Nash bargaining models - the idea that the household's preference ordering over the utility profiles of its members...
Persistent link: https://www.econbiz.de/10003578889
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This article provides an exact non-cooperative foundation of the sequential Raiffa solution for two person bargaining games. Based on an approximate foundation due to Myerson (1997) for any two-person bargaining game (S,d) an extensive form game G^S^d is defined that has an infinity of weakly...
Persistent link: https://www.econbiz.de/10003944582
This paper experimentally analyzes the effects if signatories to an international environmental agreement (IEA) apply different voting schemes to determine the terms of the agreement. To this end, unanimity, qualified majority voting, and simple majority voting are compared with respect to the...
Persistent link: https://www.econbiz.de/10008660455
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, Gibbons and Murphy (2002). -- aggregate welfare ; theory of the firm ; relational contracting ; firm heterogeneity …
Persistent link: https://www.econbiz.de/10009314275