Showing 61 - 70 of 306
Persistent link: https://www.econbiz.de/10005515641
Persistent link: https://www.econbiz.de/10005515642
This paper analyzes price competition between market makers who set costly capacity constraints before they intermediate between producers and consumers. The key finding is that the unique perfect equilibrium outcome is Cournot if capacity is costly and rationing efficient. This result is...
Persistent link: https://www.econbiz.de/10005515643
Persistent link: https://www.econbiz.de/10005515644
Persistent link: https://www.econbiz.de/10005515645
Persistent link: https://www.econbiz.de/10005515646
Persistent link: https://www.econbiz.de/10005515647
Persistent link: https://www.econbiz.de/10005515648
We consider a median voter model with uncertainty about how the economy functions. The distribution of income is exogenously given and the provision of a public good is financed through a proportional tax. Voters and politicians do not know the true production function for the public good, but...
Persistent link: https://www.econbiz.de/10005515649
This paper analyses trading and banking of carbon emission rights. Within the framework of a modestly simple, integrated assessment model that brakes the world economy in just two re-gions, North and South, it can be shown: (1) There exists separability between environmental targets and the...
Persistent link: https://www.econbiz.de/10005515650