Showing 1 - 9 of 9
Global games emerged as an approach to equilibrium selection. For a general setting with supermodular payoffs, unique selection of equilibrium has been obtained through iterative elimination of strictly dominated strategies. For the case of global games with strategic substitutes, uniqueness of...
Persistent link: https://www.econbiz.de/10011264625
We model dynamic mechanisms for a global commons. Countries benefit from both consumption and aggregate conservation of an open access resource. A country's relative value of consumption-to-conservation is privately observed and evolves stochastically. An optimal quota maximizes world welfare...
Persistent link: https://www.econbiz.de/10013062703
Persistent link: https://www.econbiz.de/10010246382
Persistent link: https://www.econbiz.de/10010344570
Persistent link: https://www.econbiz.de/10011572212
Persistent link: https://www.econbiz.de/10011860296
Persistent link: https://www.econbiz.de/10008654027
Persistent link: https://www.econbiz.de/10003360362
We study the cost-effectiveness of a transferable emissions permit system (TEPS) vis a vis a system of emissions standards. Our analysis includes along with abatement costs, the costs of enforcing the system to induce compliance. Further, the analysis considers complete and incomplete...
Persistent link: https://www.econbiz.de/10003975464