Production externalities: internalization by voting
نویسندگان
چکیده
منابع مشابه
Portfolio diversification and internalization of production externalities through majority voting
A general equilibrium model with uncertainty and production externalities is studied. In absence of markets for externalities, we look for governances and conditions under which majority voting among shareholders is likely to give rise to efficient internalization. Two observations leed the analysis: On the one hand, the shareholders with the right incentives for efficient internalization are t...
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1 We are very grateful to Masa Fujita for his insightful comments. We have also benefitted from suggestions made by an associate editor, James Foster, Rob Reed, and participants of the Midwest Mathematical Economics Conference at the University of Michigan and of the Regional Science Association International Meetings at Santa Fe. The first and the second authors acknowledge financial support f...
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We study sequential voting with two alternatives, in a setting with utility externalities: as usual, each voter has a private preference over the candidates and likes her favorite candidate to win, but additionally, a voter values voting for the chosen winner (which is determined by the majority or super-majority of votes). This model aims to capture voting behavior (”likes”) in social networks...
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ژورنال
عنوان ژورنال: Economic Theory
سال: 2012
ISSN: 0938-2259,1432-0479
DOI: 10.1007/s00199-012-0697-z