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We model problems of allocating disputed properties as generalized exchange economies in which agents have preferences and claims over multiple goods, and the social endowment of each good may not be sufficient to satisfy all individual claims. In this context, we investigate procedural and...
Persistent link: https://www.econbiz.de/10011228291
efficiency that arises when individuals are myopic. We find that for extreme values of the cost of establishing a mutual …
Persistent link: https://www.econbiz.de/10009002074
We develop a theoretical framework that allows us to study which bilateral links and coalition structures are going to emerge at equilibrium. We define the notion of coalitional network to represent a network and a coalition structure, where the network specifies the nature of the relationship...
Persistent link: https://www.econbiz.de/10010610449
We argue that normative indices of multidimensional inequality do not only measure a distribution’s extent of inequity (i.e., the gaps between the better-off and the worse-off), but also its extent of inefficiency (i.e., the non-realized mutually beneficial exchanges of goods). We provide a...
Persistent link: https://www.econbiz.de/10010927727
If agents negotiate openly and form coalitions, can they reach efficient agreements? We address this issue within a class of coalition formation games with externalities where agents' preferences depend solely on the coalition structures they are associated with. We derive Ray and Vohra's (1997)...
Persistent link: https://www.econbiz.de/10005008436
further describe some important features of efficiency by characterizing the efficient distribution (and number) of policies … chosen from the policy space when their cost is small. It turns out that efficiency is achieved when the distribution of …
Persistent link: https://www.econbiz.de/10005008591
Persistent link: https://www.econbiz.de/10008550182
The welfare impact of a merger involves the market power offense and the efficiency defense. Salant et al. (1983) show … making a merger both profitable and socially desirable. Comparing rationalization and synergy within the efficiency defense …
Persistent link: https://www.econbiz.de/10008494368
Persistent link: https://www.econbiz.de/10005779480
This paper defines a decomposition of technical efficiency for a series of nonparametric deterministic reference … efficiency decomposition are illustrated with several data sets and contrasted with results based on the traditional, convex Data …
Persistent link: https://www.econbiz.de/10005478913