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作者：Ginés, M; Marhuenda, F
作者单位：Universitat Jaume I; Universidad Carlos III de Madrid
摘要：In economies with public goods, and agents with quasi-linear preferences, we give a characterization of the welfare egalitarian correspondence in terms of three axioms: Pareto optimality, symmetry, and solidarity. This last property requires that an increase in the willingness to pay for the public goods of some of the agents should not decrease the welfare of any of them. (C) 2000 Academic Press.
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作者：Lipman, BL; Wang, RQ
作者单位：University of Wisconsin System; University of Wisconsin Madison; Queens University - Canada
摘要：We add small costs of changing actions and frequent repetition to finitely repeated games, making some surprising commitments credible. Naturally, switching costs make it credible not to change action. However, this can occur for small switching costs and gives a unique subgame perfect equilibrium in coordination games when Pareto dominance and risk dominance coincide. In the Prisoners' Dilemma, switching costs reduce the incentive to deviate from mutual cooperation, but reduce the incentive t...
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作者：Grant, S; Kajii, A; Polak, B
作者单位：Australian National University; University of Tsukuba; Yale University
摘要：Savage motivated his sure-thing principle by arguing that, whenever an act would be preferred if an event obtains and preferred if that event did not obtain, it should be preferred overall. The ability to decompose and recompose decision problems in this way has normative appeal. It does not. however, require the full separability embodied in Savage's axiom. We formulate a weaker axiom that suffices for decomposability. and show it is almost equivalent to Gul and Lantto's dynamic programming s...
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作者：Foster, JE; Shneyerov, AA
作者单位：Vanderbilt University; Northwestern University
摘要：This paper explores a natural decomposition property motivated by Shorrocks (1980, Econometrica 48, 613-625) and Anand (1983, Inequality and poverty in Malaysia, Oxford University Press) that we call path indepentent decomposability. Between-group inequality is found by applying the inequality measure to the smoothed distribution, which replaces each income in a subgroup with its representative income. Within-group inequality is the measure applied to the standardized distribution, which resca...
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作者：Hanany, E; Safra, Z
作者单位：Tel Aviv University
摘要：In this paper we present necessary and sufficient conditions for existence and uniqueness of ordinal Nash outcomes. These outcomes are derived from the ordinal Nash solution-a reinterpretation and an extension of the Nash bargaining solution that allows bargainers to have preference relations that are more general than expected utility. Our task is undertaken by the construction of a new notion called induced utilities. Journal of Economic Literature Classification Number: C78. (C) 2000 Academ...
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作者：[Anonymous]
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作者：Hervés-Beloso, C; Moreno-Garcia, E; Nunez-Sanz, C; Pascoa, MR
作者单位：Universidade de Vigo; Universidade Nova de Lisboa; Universidad Carlos III de Madrid
摘要：We consider a continuum economy with infinitely many commodities and show that, for any positive epsilon, the core of the economy coincides with the set of allocations which are not blocked by any coalition with measure less than epsilon. Actually, our main result is an extension of Grodal's (1972, Econometrica 40, 581-583) result and, therefore, Schmeidler's (1972. Econometrica 40, 579-580) result to economics whose commodity space is l(infinity), for myopic preferences. Journal of Economic L...
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作者：Müller, HM
作者单位：University of Mannheim
摘要：In a seminal paper, B. R. Holmstrom and P. R. Milgrom 1987 Econometrica 55, 303-328) examine a principal-agent model in which the agent continuously controls the drift rate of a Brownian motion. Given a stationary environment, they show that the optimal sharing rule is a linear function of aggregated output. This paper considers a variant of the Brownian model in which control revisions take place in discrete time. It is shown that no matter how close discrete time is to continuous time, the f...
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作者：Blume, A
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：This paper explores how efficiency promotes the use of structure in language. It starts from the premise that one of language's central characteristics is to provide a means ibr saying novel things about novel circumstances, its creativity. It is reasonable to expect that in a rich and changing environment, language will be incomplete. This encourages reliance on structure. It is shown how creative language use emerges from common knowledge structures, even if those structures are consistent w...
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作者：Dixit, A; Londregan, J
作者单位：Princeton University; University of California System; University of California Los Angeles
摘要：If political power and motives to invest in government bonds are positively correlated across voting groups, then a self-selection equilibrium can arise where the government's promise to repay its debt is credible. We illustrate this using a formal model where the alternative use of wealth is to acquire human capital. Classification Numbers: D72, E60, H63. (C) 2000 Academic Press.
