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are symmetric, the noncooperative game played by jurisdictions admits a unique equilibrium, and an increase in spillovers … can increase their contribution. When spillovers are asymmetric, equilibrium is unique if spillovers are low, while …
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support this conjecture. For finite economies, one must choose between notions of Tiebout equilibrium which are Pareto optimal … but which may be empty, or which are nonempty but may be inefficient. This paper introduces a new equilibrium notion … called migration-proof Tiebout equilibrium which we argue is a natural refinement of Nash equilibrium for a …
Persistent link: https://www.econbiz.de/10014193541
We adopt the largest consistent set defined by Chwe [J. of Econ. Theory 63 (1994), 299-235] to predict which coalition structures are possibly stable when players are farsighted. We also introduce a refinement, the largest cautious consistent set, based on the assumption that players are...
Persistent link: https://www.econbiz.de/10011325075
We adopt the largest consistent set defined by Chwe [J. of Econ. Theory 63 (1994), 299-235] to predict which coalition structures are possibly stable when players are farsighted. We also introduce a refinement, the largest cautious consistent set, based on the assumption that players are...
Persistent link: https://www.econbiz.de/10011591399
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Persistent link: https://www.econbiz.de/10005264342
We adopt the largest consistent set defined by Chwe (J. of Econ. Theory 63 (1994, 299-235) to predict which coalition structures are possibly stable when prayers are farsighted. We also introduce a refinement. the largest cautious consistent set, based on the assumption that players are...
Persistent link: https://www.econbiz.de/10004985022