We study a general equilibrium model with a non-profit firm producing a public good using private goods as inputs which are financed by voluntary contributions (subscriptions) of households. We analyze policy interventions that increase the public good level at subscription equilibria, and show...

Models on private provision of public goods typically involve a single private good and linear production technology for the public good. We study a model with several private goods and nonlinear (strictly concave) production technology. We revisit the question of „neutrality" of government...

Based on data from a face-to-face survey of 2422 residents from urban Turkey, this paper presents an analysis of citizens’ preferences in Turkey on nuclear and renewable energy sources. Findings indicate that opposition to nuclear power was strong, and only a small number of respondents...

This paper explores Turkish urban households' willingness to pay (WTP) for CO2 emission reductions expected to result from improvements in power production. A face-to-face questionnaire, with a Contingent valuation (CV) module prepared using the double-bounded dichotomous choice elicitation...

We study a financial market economy with a continuum of borrowers and pooling of borrowers’ promises. Under these conditions and in the absence of designing costs, utility-maximizing decisions of price-taking borrowers may lead to financial market incompleteness. Parametrizing equilibria...

In a two-period sunspot economy with inside money and "S" possible realizations of the sunspot, we prove that, generically in the space of utility functions, there are ["S" - 1] degrees of real indeterminacy. This result generalizes the previously known result for sunspot models that,...