We study the management of a multispecies fishery, exploited under a non-selective harvesting technology. We construct an economic mechanism to regulate the fishery. Under a large class of models, capable of accounting for imperfect competition, congestion externalities, pro-social motivations...

In this note, we discuss the existence of anonymous and balanced mechanisms to implement the Lindahl allocations. We obtain an impossibility result for the class of mechanisms defining an homeomorphism between the message space and the allocation space.

This paper presents a new economic mechanism, such that the associated game form implements Lindahl equilibria as Nash equilibria. Each player sends a 2-dimensional message, in order to tell his marginal propensity to pay and his demand for the public good. At a Nash equilibrium, the players...

This note provides an additional argument in favour of the use of a negligence rule in tort law. When the probability of suit varies among injurers and is not observable by the judge, the judge will fail to implement the socially optimal level of care using a strict liability rule (for this...

The idea of regulating pollutions by means of tradable emission permits on a competitive market was developed for the first time by Dales in 1968. The question of the citizens’ participation on these markets received little attention in the economic literature. However, people are allowed to...

This article analyses the bargaining side of the Coase theorem in a 3-player strategic framework. We consider several bilateral bargaining protocols between two firms polluting one household (the victim). Our results show that when property rights are given to the victim, he prefers to bargain...

We give a characterization, in feedback form, of the optimal extraction path of an exhaustible resource, which holds for a large class of models.

We construct an economic mechanism to realize in Nash equilibrium an optimal consumption time path of a natural resource. For exposition convenience, the analysis is conducted within the model initiated by Levhari and Mirman (1980). This framework allows us to explicitly calculate the...