Showing 1 - 10 of 12
This paper examines a model of an infinite production economy with a finite number of types of agents and semi-public goods, which are subjected to crowding and exclusion. The utility of an agent depends not only on the vector of public commodities produced by the coalition to which she belongs,...
Persistent link: https://www.econbiz.de/10005596680
This paper examines a model of an infinite production economy with a finite number of types of agents and semi-public goods, which are subjected to crowding and exclusion. The utility of an agent depends not only on the vector of public commodities produced by the coalition to which she belongs,...
Persistent link: https://www.econbiz.de/10005597876
Persistent link: https://www.econbiz.de/10005753150
Persistent link: https://www.econbiz.de/10005147317
This paper examines the conditions which guarantee that the set of coalition-proof Nash equilibria coincides with the set of strong Nash equilibria in the normal form games without spillovers. We find that population monotonicity properties of the payoff functions, when the payoff of a player...
Persistent link: https://www.econbiz.de/10005155418
In this paper we consider a model of group formation where group of individuals may have different feasible sets. We focus on two polar cases, increasing returns, when the set of feasible alternatives increases if a new member joins the group, and decreasing returns, when a new member has an...
Persistent link: https://www.econbiz.de/10005178695
We provide characterizations of four new rules for individual decision-making under complete uncertainty. They are what we call the min-max rule, the max-min rule, the lexicographic min-max rule and the lexicographic max-min rule. These rules provide orderings of the sets of possible outcomes...
Persistent link: https://www.econbiz.de/10005370869
We analyze the rationalizability of variable-population social-choice functions in a welfarist framework. It is shown that fixed-population rationalizability and a weakening of congruence together are necessary and sufficient for rational choice, given a plausible dominance property that...
Persistent link: https://www.econbiz.de/10005370982
Persistent link: https://www.econbiz.de/10004976692
In this note, it is shown that a result due to Uzawa showing that the weak axiom of revealed preference together with a regularity condition implies the strong axiom of revealed preference can be derived from the regularity condition alone, if the choice function is continuous in prices and in...
Persistent link: https://www.econbiz.de/10005753439