In a principal-agent setting, we consider a combined problem of multitasking and performance measurement. The principal can choose to reward the agent both directly for providing effort into a specific activity, and based on the outcome delivered to the principal. Both the issue of multitasking...

We study the fair allocation of a one-dimensional and perfectly divisible good when individuals have other-regarding preferences. Assuming no legitimate claims and purely ordinal preferences, how should society measure social welfare so as to satisfy basic principles of efficiency and fairness?...

The present paper examines trade liberalization driven by the coordination of product standards. For oligopolistic firms situated in separate markets that are initially sheltered by national standards, mutual recognition of standards implies entry and reduced profits at home paired with the...

We show that the Aumann-Davis-Maschler bargaining set and the Mas-Colell bargaining set of a non-leveled NTU game that is either ordinal convex or coalition merge convex coincides with the core of the game. Moreover, we show by means of an example that the foregoing statement may not be valid if...

From a game theoretical perspective, a prerequisite for an international fishery agreement (IFA) to be stable is that parties expect their benefits from joining the agreement to exceed the benefits from free riding on the agreement, and parties only comply with the agreement as long as this is...

The study investigates whether crime in Turkey is governed by economic rationality. An economic model of rational behaviour claims that the propensity to commit criminal activities is negatively related to risk of deterrence. Potential presence of higher risk profiles for certain population...

Is a lack of domestic energy resources necessarily a limiting factor to growth, as suggested for example by the work of Robert C. Allen? We examine the case of Denmark - a country which historically had next to no domestic energy resources - for which we present new historical energy accounts...

It is well-known that the core on several domains of cooperative transferable utility (TU) and nontransferable utility (NTU) games is characterized by various combinations of axioms containing some versions of the reduced game property, of its converse, or of the reconfirmation property with...

We generalize the characterizations of the positive core and the positive prekernel to TU games with precedence constraints and show that the positive core is characterized by non-emptiness (NE), boundedness (BOUND), covariance under strategic equivalence, closedness (CLOS), the reduced game...

An increasing number of households consume housing beyond the primary home as owners of a second home. Economic studies of second homeownership are still very scarce, and the present empirical study fills this gap to some extent. It is based on Danish survey data combined with administrative...