Showing 1 - 10 of 1,994
We show that essentially every communication equilibrium of any finite Bayesian game with two players can be …
Persistent link: https://www.econbiz.de/10013128960
non-coalition countries with regard to emissions and welfare and compare business as usual with the coalition … liberalization by moving from autarky to free trade. Although the coalition steps up its mitigation effort, world emissions rise … environment as well as for the coalition countries’ welfare and the aggregate welfare of all countries; it reduces the range of …
Persistent link: https://www.econbiz.de/10013315868
This paper considers the endogenous formation of an institution to provide a public good. If the institution governs only its members, players have an incentive to free ride on the institution formation of others and the social dilemma is simply shifted to a higher level. Addressing this...
Persistent link: https://www.econbiz.de/10013315935
This paper characterizes geometrically the set of all Nash equilibrium payoffs achievable with unmediated communication …
Persistent link: https://www.econbiz.de/10012778541
We propose a semi-cooperative game theoretic approach to check whether a given coalition is stable in a Bayesian game …) coalitional equilibrium, describe a (cooperative) partition form game. A coalition is core-stable if the core of a suitable …
Persistent link: https://www.econbiz.de/10013142501
This paper studies within a multi-country model with international trade the stability of international environmental agreements (IEAs) when countries regulate carbon emissions either by taxes or caps. Regardless of whether coalitions play Nash or are Stackelberg leaders the principal message is...
Persistent link: https://www.econbiz.de/10013046588
We investigate whether the simple plurality rule aggregates information efficiently in a large election with three alternatives. The environment is the same as in the Condorcet Jury Theorem (Condorcet (1785)). Voters have common preferences that depend on the unknown state of nature, and they...
Persistent link: https://www.econbiz.de/10013316013
We extend the seminal Rothschild and Stiglitz (1976) model on competitive insurance markets with asymmetric information in the spirit of Wilson (1977)’s ‘anticipatory equilibrium’ by introducing an additional stage in which initial contracts can be withdrawn after observation of...
Persistent link: https://www.econbiz.de/10013316023
The Babylonian bridal auction, described by Herodotus, is regarded as one of the earliest uses of an auction in history. Yet, to our knowledge, the literature lacks a formal equilibrium analysis of this auction. We provide such an analysis for the two-player case with complete and incomplete...
Persistent link: https://www.econbiz.de/10013316185
We set out a model of production and appropriation involving many players, who differ with respect to both resource endowments and productivities. We write down the model in a novel way that permits our analysis to avoid the proliferation of dimensions associated with the best response function...
Persistent link: https://www.econbiz.de/10013316209