Howard (1992) argues that the Nash bargaining solution is not Nash implementable, as it does not satisfy Maskin monotonicity. His arguments can be extended to other bargaining solutions as well. However, by defining a social choice correspondence that is based on the solution rather than on its...

Car owners are liable for property damage inflicted on other motorists. In most countries such liability must be insured by law. That law may favor expensive or heavy vehicles, prone to suffer or inflict large losses. This paper explores links between liability rules and vehicle choice. It...

We consider a (pure) public goods provision problem with voluntary participation in a quasi-linear economy. We propose a new hybrid solution concept, the free-riding-proof core (FRP-Core), which endogenously determines a contribution group, public goods provision level, and how to share the...

Polluted rivers are harmful to human, animals and plants living along it. To reduce the harm, cleaning costs are generated. However, when the river passes through several different countries or regions, a relevant question is how should the costs be shared among the agents. Ni and Wang (2007)...

n agents located along a river generate residues that then require cleaning to return the river to its natural state, which entails some cost. We propose several rules to distribute the total pollutant-cleaning cost among all the agents. We provide axiomatic characterizations using properties...

This paper defines models of cooperation among players partitioning a completely divisible good (such as a cake or a piece of land). The novelty of our approach lies in the players' ability to form coalitions before the actual division of the good with the aim to maximize the average utility of...

A river carries pollutants to people living along it if it is polluted. To make the water in the river clean, some costs are incurred. This poses a question of how to split the costs of cleaning the whole river among the agents located along it. To answer this question, we resort to the two main...

We introduce and analyze an efficiency criterion for probabilistic assignment of objects, when only ordinal preference information is available. This efficiency criterion is based on the following domination relation: a probabilistic assignment dominates another assignment if it is ex-ante...

In ordinal (probabilistic) assignment problems, each agent reports his preference rankings over objects and receives a lottery defined over those objects. A common efficiency notion, sd-efficiency, is obtained by extending the preference rankings to preferences over lotteries by means of...

This study investigates the economic implications of blockchain-based academic journals, proposed by the recent computer science literature, in which authors and referees are individually incentivized. We construct a model in which the journal publishes qualified papers under two types of...