Showing 1 - 10 of 71
We study how social norms and individual rationality in the process of coalition formation sustain a particular form of … phenomenon the `tragedy of the clubs'. We model club formation as a non-cooperative game of coalition formation and surplus …
Persistent link: https://www.econbiz.de/10005407545
In this paper we show that it is possible to manipulate market equilibria in an economy with profit maximizing agents (or agents with quasi-linear utility functions) by either destroying or withholding ones initial endowments.
Persistent link: https://www.econbiz.de/10005407610
We examine a simple bargaining setting, where heterogeneous buyers and sellers are repeatedly matched with each other. We begin by characterizing efficiency in such a dynamic setting, and discuss how it differs from efficiency in a centralized static setting. We then study the allocations which...
Persistent link: https://www.econbiz.de/10005062338
effect, the core is nonempty when coalition feasible sets are monotonic and players' preferences over public goods have … consume a public good in a coalition with more members. This paper adopts the Drèze and Greenberg (1980) type utility function … where players have preferences over goods as well as coalition members. In a game with anonymous and separable network …
Persistent link: https://www.econbiz.de/10005550914
-stable set, a core-like concept, is nonempty and can be approached through an algorithm. The usual core may be empty. The setwise … of core-like solutions, besides the setwise-stable set. …
Persistent link: https://www.econbiz.de/10005062394
over the other students who would attend the same college. It is well known that the core of this model may be empty …, without strong assumptions on agents' preferences. We introduce a method that finds all core matchings, if any exist. The … core is empty. …
Persistent link: https://www.econbiz.de/10005118580
does not hold for optimistic players. We propose a new core concept to overcome this puzzle and provide numerical …
Persistent link: https://www.econbiz.de/10005550950
We study whether "coercive" public provision or voluntary private provision of public goods can survive when individuals who "vote with their feet" can choose between communities that differ in the way that public goods are provided. We obtain the following findings: (i) an equilibrium always...
Persistent link: https://www.econbiz.de/10005407605
benevolence solution generates allocations belonging to the coalition structure core and that are also Tiebout equilibria. However …, when each coalition follows a single-valued collective decision rule, the coalition structure core may be empty. Our …We study how individuals divide themselves into coalitions and choose a public alternative for each coalition. When …
Persistent link: https://www.econbiz.de/10005062349
This paper considers a dynamic model of Tiebout-like migration between communities that utilize distinct allocation procedures for public goods. At issue is whether voluntary or compulsory procedures are more likely to prevail over time. We model infinitely lived individuals who make repeated,...
Persistent link: https://www.econbiz.de/10005550873