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This paper examines a model of an infinite production economy with a finite number of types of agents and semi-public goods, which are subjected to crowding and exclusion. The utility of an agent depends not only on the vector of public commodities produced by the coalition to which she belongs,...
Persistent link: https://www.econbiz.de/10005596680
This paper examines a model of an infinite production economy with a finite number of types of agents and semi-public goods, where utility of a member of a coalition depends not only on the vector of public commodities produced by this coalition, but also on the structure of the coalition. The...
Persistent link: https://www.econbiz.de/10005032181
Persistent link: https://www.econbiz.de/10005388100
"Awareness" for a public good is necessary to stimulate voluntary contributions towards the provision of this commodity. This applies in particular to the global reduction of greenhouse gases and its relevance for mitigation of climate change. The success of the new climate agreement to be...
Persistent link: https://www.econbiz.de/10011301620
Persistent link: https://www.econbiz.de/10005389115
We consider a model with two countries, two commodities and production factors, labour and environment. The countries first choose their environmental standards and then the equilibrium market allocations are determined. We study a subgame perfect Nash equilibrium of this game for two types of...
Persistent link: https://www.econbiz.de/10011608795
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This paper investigates efficiency and equitability issues given a cost sharing method f in an economy with a public commodity. We introduce the basic concept of a f-Lindahl equilibrium and study the set of all these particular equilibrium allocations. It then turns out that this set is...
Persistent link: https://www.econbiz.de/10005028254
The central result of this paper is a refinement of an equivalence theorem in Mas-Colell (1980) for the core of a finite economy with a public good. It is shown that an allocation belongs to the core if and only if it is a cost share equilibrium. A further characterization of core elements which...
Persistent link: https://www.econbiz.de/10005028334
Persistent link: https://www.econbiz.de/10005679049