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, adjustment and reflection as students apply theory to real challenges. Examples, data and results from three iterations of the …
Persistent link: https://www.econbiz.de/10012964546
The relative advantages of private property and common property for the efficiency, equity, and sustainability of natural resource use patterns have long been debated in the legal and economics literatures. The debate has been clouded by a troika of confusions that relate to the difference...
Persistent link: https://www.econbiz.de/10014177074
The relative advantages of private property and common property for the efficiency, equity, and sustainability of natural resource use patterns have long been debated in the legal and economics literatures. The debate has been clouded by a troika of confusions that relate to the difference...
Persistent link: https://www.econbiz.de/10014212717
In this paper we show that a simple model of fairness preferences explains major experimental regularities of common pool resource (CPR) experiments. The evidence indicates that in standard CPR games without communication and without sanctioning possibilities inefficient excess appropriation is...
Persistent link: https://www.econbiz.de/10014460996
solution concept to this problem called a perfectly fair allocation. It is a refinement of the concept of fair allocation. An … appealing and interesting property of this concept is that every perfectly fair allocation is Pareto optimal. It is also shown … that a perfectly fair allocation is envy free and gives each agent what he likes best, and that a fair allocation need not …
Persistent link: https://www.econbiz.de/10014125049
group of people as fairly and as efficiently as possible. A particular constraint for such an allocation is that every … allocation. It is shown that every perfectly fair allocation is efficient and envy-free, income-fair and furthermore gives every … allocation. It is shown that there exists a perfectly fair allocation if and only if an associated linear program problem has a …
Persistent link: https://www.econbiz.de/10014120927
This paper studies the problem of how to distribute a set of indivisible objects with an amount M of money among a number of agents in a fair way. We allow any number of agents and objects. Objects can be desirable or undesirable and the amount of money can be negative as well. In case M is...
Persistent link: https://www.econbiz.de/10014121719
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