Nous considérons la vente aux enchères sous pli scellé au second prix d'un objet que chaque acquéreur potentiel évalue de manière « privée et indépendante ». Nous montrons que l'optimum ex ante d'un cartel, sous contraintes d'incitation et d'équilibre ex post des transferts, coïncide...

We consider the second price sealed bid auction of an object that the potential buyers value privately and independently. We show that a cartel?s ex ante optimum, subject to incentive compatility and ex post balanced transfers, coincides with the first best and defines a supermodular...

Nous considérons la vente aux enchères sous pli scellé au second prix d'un objet que chaque acquéreur potentiel évalue de manière « privée et indépendante ». Nous montrons que l'optimum ex ante d'un cartel, sous contraintes d'incitation et d'équilibre ex post des transferts, coïncide...

This chapter studies the e¤ect of consumption externalities on stability properties of a Ramsey model with heterogeneous agents and borrowing constraints. Agents di¤er in their initial wealth, felicity functions and discount factors. For simplicity, heterogeneity is reduced to two groups....

This paper studies the e¤ect of consumption externalities in a Ramsey model with heterogeneous agents and borrowing constraints. We consider two types of agents who di¤er in their initial wealth and discount factors. Further, we leave open the possibility of increase in consumption of one...

This chapter examines the e¤ect of leisure externalities on the ap- pearance of local indeterminacy in a two-period overlapping generations economy with capital accumulation. Households work and consume in both periods of their life. Labor supply is elastic for young while inelastic for adult....