The Sequential Core of an Economy with Environmental Externalities
نویسنده
چکیده
In this paper we apply a coalitional stability analysis to a Cobb-Douglas economy with multilateral environmental externalities. We find that the sequential core of the economy can be unique, empty or nonempty depending on the intensity of agents' preferences on private and public goods.
منابع مشابه
The core of an economy with multilateral environmental externalities
When environmental externalities are international-i .. e. transfrontier-they most often are multilateral and embody public good characteristics. Improving upon inefficient laissez-faire equilibria requires voluntary cooperation for which the game-theoretic core concept provides optimal outcomes that have interesting properties against free riding. To define the core, however, the characteristi...
متن کاملAnalysis of Electricity Generation’s Externalities on Sectorial Output Growth and Welfare in Iran
Environmental problems are one of the most challenging issues for the entire world and each country. In economic studies, environmental issues are analyzed as negative externalities. In this article, the negative externalities of electricity production on the output growth of different sectors and household’s welfare in Iran’s economy have been studied through price system using Computable Gene...
متن کاملOn the Core of an Economy with Multilateral and Multidimensional Environmental Externalities
For simple economic models of transfrontier pollution, Chander and Tulkens (1995) and (1997) have offered a formula for transfers to sustain international cooperation on a voluntary basis and which deter coalitionnal free−riding under some reasonable behaviours of countries not in the coalition. Their scheme rests on the assumption that pollution is a scalar. Relaxing this assumption, interesti...
متن کاملSequential coalition formation and the core in the presence of externalities
The sequential coalition formation model of Bloch (1996) to solve cooperative games with externalities exhibits some anomalies when related to classical concepts. We elaborate on these problems, define a modification of Bloch’s model and show that its order-independent equilibria coincide with the (pessimistic) recursive core (Kóczy, 2007). Subject classification: C71, C72
متن کاملLabour's Income Share in an Islamic Economic Framework: A Proposal
In standard discussions (capitalistic economy), business firms and the income distribution property of production factors are dealt with in a manner in which they are independent from each other. and there is no interaction as such between them. Furthermore, no role whatsoever is assumed for externalities. If we accept that there is interaction between production factors, and these 1actors, bec...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2013