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This paper studies budget processes, both theoretically and experimentally.The authors give a sufficient condition for top-down and bottom-up budget processes to have the same voting equilibrium.
Persistent link: https://www.econbiz.de/10005850460
This paper studies budget processes, both theoretically and experimentally. We compare the outcomes of bottom-up and top-down budget processes. It is often presumed that a top-down budget process leads to a smaller overall budget than a bottom-up budget process. Ferejohn and Krehbiel (1987)...
Persistent link: https://www.econbiz.de/10012732856
Our analysis of a game-theoretic model of liberal rights had two main purposes: First, we gave a characterization of Gibbard's solution to the liberal paradox in terms of a game equilibrium. Secondly, we asked for preference restrictions that can guarantee the existence of a Pareto-optimal...
Persistent link: https://www.econbiz.de/10010988138
This paper analyzes individual and group behavior in an experimental commons. Different factors that can help avoid the tragedy of the commons are studied in four experimental settings: separation of a larger commons into smaller commons (two harbors), knowledge/experience available to...
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