A model M is defined (see Anderlini and Canning (2001) and Yu et al. (2009) ) as a quadruple M={Λ,X,F,R}, where Λ and X represent the parameter and actions spaces, respectively, F is a correspondence defining the feasible actions and R is a real-valued function which measures the degree of...

Politik hat vielfach zum Ziel, das Verhalten von Wirtschaftssubjekten durch eine Veränderung der Rahmenbedingungen zu steuern. Bei der Politikfolgenabschätzung müssen deshalb Voraussagen gemacht werden, wie Menschen sich an veränderte ökonomische Bedingungen anpassen. Eine wichtige...

We provide a "computable counterexample" to the Arrow-Debreu competitive equilibrium existence theorem [2]. In particular, we find an exchange economy in which all components are (Turing) computable, but in which no competitive equilibrium is computable. This result can be interpreted as an...

We show that the set of competitive equilibrium points of a pure exchange economy are the equilibrium points of a broader class of better-response demands than the usual utility-maximizing demand functions. The better-response demands are derived from assigning weights to all commodity bundles...

This paper revisits the tragedy of the commons when agents have different capabilities in both production and encroachment activities, and can allocate their time between them. Under fairly general assumptions on production and encroachment technologies, an individual's expected income is convex...