elimination of west european coal subsidies implications for coal production and coal imports expanding volumes of international coal supply can be secured in west european harbours at us 50 60 1993 per tonne in 1993 western europe produced 160 million tonnes of coal but the cost was f

global energy use decoupling or convergence we examine the key factors driving change in energy use globally over the past four decades we test for both strong decoupling where economic growth has less effect on energy use as income increases and weak decoupling where energy use declines overtime in richer countries ceteris paribus our econometric approach is robust to the presence of unit roots unobserved time effects and spatial effects our key findings are that the growth of per capita energy use has been primarily driven by economic growth convergence in energy intensity and weak decoupling there is no sign of strong decoupling

one man one bid abstract we compare two mechanisms to implement a simple binary choice e g adopt one of two proposals we show that when neither alternative is ex ante preferred simple majority voting cannot implement the first best outcome we introduce a simple bidding mechanism where votes can be bought at a quadratic cost and voters receive rebates equal to the average of others payments this mechanism is budget balanced individually rational and fully efficient in the limit moreover the mechanism redistributes from those that gain from the outcome to those that lose and everyone is better off under bidding compared to voting we test the two mechanisms in the lab using an environment with moderate and extremist voters the observed efficiency losses under voting are close to theoretical predictions and significantly larger than under bidding because of redistribution the efficiency gain from bidding benefits mostly the moderate voters

the effects of stock market growth and renewable energy use on co2 emissions evidence from g20 countries the primary objective of this study is to empirically examine the effect of stock market growth and foreign direct investment fdi inflows on co2 emissions further this study investigates the impact of renewable energy consumption on co2 emissions and economic output in a panel of the g20 countries the empirical analysis was carried out on the full sample as well as on sub samples of developed and developing economies of the g20 member countries the results confirm a significant long run equilibrium relationship among the variables across the panels further the long run elasticities suggest that fdi significantly reduces co2 emissions in the full sample and developing economies while stock market growth reduces in developed economies similarly the renewable energy consumption substantially reduces co2 emissions and increases economic output across the panels our findings have important policy implications for instance the policy makers have to initiate effective policies to promote the renewable energy sources to meet the increasing demand for energy by replacing the use of conventional energy such as coal gas and oil this will therefore help to reduce the co2 emissions and also ensure sustainable economic development in the g20 nations

energy consumption carbon emissions and economic growth in saudi arabia an aggregate and disaggregate analysis the objective of this study is to examine the relationship among economic growth carbon emissions and energy consumption at the aggregate and disaggregate levels for the aggregate energy consumption model we use total energy consumption per capita and co2 emissions per capita based on the total energy consumption for the disaggregate analysis we used oil gas and electricity consumption models along with their respective co2 emissions the long term income elasticities of carbon emissions in three of the four models are positive and higher than their estimated short term income elasticities these results suggest that carbon emissions increase with the increase in per capita income which supports the belief that there is a monotonically increasing relationship between per capita carbon emissions and per capita income for the aggregate model and for the oil and electricity consumption models the long and short term income elasticities of carbon emissions are negative for the gas consumption model this result indicates that if the saudi arabian economy switched from oil to gas consumption then an increase in per capita income would reduce carbon emissions the results also suggest that electricity is less polluting than other sources of energy

industrialization electricity consumption and co2 emissions in bangladesh this paper investigates the relationship between industrialization electricity consumption and co2 emissions in case of bangladesh using quarter frequency data over the period of 1975 2010 the ar

efficient bilateral taxation of externalities in the context of the example of a factory whose smoke emissions affect a near by laundry coase j law econ 3 1 44 1960 argued for taxing the laundry as well as the factory while baumol am econ rev 62 307 322 1972 argued for taxing only the factory consistent application of marginal cost pricing shows that the efficient tax on laundries is positive when the number of laundries is finite and that the tax approaches zero in the limit as the number of laundries approaches infinity the efficient tax on factories is bounded away from zero regardless of the number of factories our framework is an application of the vickrey clarke groves family of truth telling mechanisms that require each agent to bear the full social cost of changing the outcome that would have prevailed had she not participated in the decision until now the literature has not fully resolved the discrepancies between coase s and baumol s arguments and even contemporary textbooks on environmental economics and public economics do not offer correct and complete analyses

aggregating local preferences to guide marginal policy adjustments making policy choices is unavoidable the standard economic approach to guiding policy consists of two steps estimate policy effects on individuals utility and then use a social choice rule that aggregates across individuals to generate a policy recommendation traditionally the policy effect estimates come from market data however market data are insufficient in some contexts involving externalities public goods and non market goods and may not reliably reveal preferences in contexts where people are uninformed or make systematic mistakes for these reasons economists have increasingly been exploring survey based approaches to estimating policy effects on utility for our purposes such surveys have two key features they are unincentivized and they generally work best for eliciting local preferences at the status quo because respondents find it harder to introspect about how they would feel in counterfactual unfamiliar situations in this paper we propose a social choice rule for aggregating local ordinal preferences elicited from surveys into a local policy improvement while reducing the incentive for survey respondents to misreport their preferences we have in mind three examples of survey based preference measurement to which our method could be applied first contingent valuation surveys often elicit respondents marginal rates of substitution between different policies or between a policy and money i e willingness to pay second much research on subjective well being swb treats the response to a swb survey question typically regarding happiness or life satisfaction as a proxy for utility and estimates how policies affect it unlike contingent valuation or policy referendums this approach sidesteps respondents policy misconceptions or lack of information and relative to traditional market based indicators such as gdp swb data may capture a broader range of aspects of well being e g stiglitz sen and fitoussi 2009 however evidence indicates that people make choices that systematically deviate from what they believe would maximize their responses to commonly used swb measures benjamin heffetz kimball and rees jones 2012 2013 suggesting that a single question swb measure is inadequate as a utility proxy the primary application we have in mind is estimating the effects of policy on responses to a range of swb questions that capture distinct aspects of well being including for example own and family happiness health security and freedoms the effect of policy on utility can be estimated as a weighted average of the effect of policy on these responses with the weights derived from a separate survey that elicits individuals marginal rates of substitution across aspects of well being 1 the theory and methods for combining responses to multiple swb questions into a utility proxy are developed in a companion paper benjamin heffetz kimball and szembrot 2012

the role of bounded rationality and imperfect information in subgame perfect implementation an empirical investigation in this paper we conduct a laboratory experiment to test the extent to which moore and repullo s subgame perfect implementation mechanism induces truth telling in practice both in a setting with perfect information and in a setting where buyers and sellers face a small amount of uncertainty regarding the good s value we nd that moore repullo mechanisms fail to implement truth telling in a substantial number of cases even under perfect information about the valuation of the good this failure to implement truthtelling is due to beliefs about the irrationality of one s trading partner therefore although the mechanism should in theory provide incentives for truth telling many buyers in fact believe that they can increase their expected monetary payo by lying the deviations from truth telling become signicantly more frequent and more persistent when agents face small amounts of uncertainty regarding the good s value our results thus suggest that both beliefs about irrational play and small amounts of uncertainty about valuations may constitute important reasons for the absence of moore repullo mechanisms in practice

a simple auctioneerless mechanism with walrasian properties abstract a simple mechanism for reallocating holdings is described in which no auctioneer is required outcomes are determined solely from traders actions and without any requirement that the mechanism be in equilibrium the mechanism is shown to exactly duplicate the performance of the walrasian auctioneer both in its equilibria and in its disequilibrium path if individuals are price takers and if the number of individuals is large to approximately duplicate the auctioneer s performance even when individuals behave strategically each taking account of his own influence on prices

co2 emissions renewable energy and the environmental kuznets curve a panel cointegration approach abstract this study combines a panel cointegration analysis with a set of robustness tests to assess the short and long run impacts of renewable energy on co2 emissions as well as the kuznets environmental curve hypothesis for 25 selected african countries over the period 1980 2012 the results provide no evidence of a total validation of ekc predictions however co2 emissions are found to increase with income per capita the overall estimations strongly reveal that renewable energy with a negative effect on co2 emissions coupled with an increasing long run effect remains an efficient substitute for the conventional fossil fuelled energy nonetheless the impact of renewable energy is outweighed by primary energy consumption in both the short and long run entailing more global synergy for outpacing the environmental challenges

assessing the energy saving effect of urbanization in china based on stochastic impacts by regression on population affluence and technology stirpat model abstract the rapid urbanization process has posed great challenges to china s energy system this paper uses the stochastic impacts by regression on population affluence and technology stirpat model to evaluate the energy saving effect of china s urbanization based on provincial panel data the results suggest that 1 the urbanization induces the energy consumption with a notable negative energy saving effect 2 the heterogeneity of urbanization impact on energy consumption is analyzed in different stages of urbanization showing that the energy saving effect of urbanization follows a u shaped path 3 considering the heterogeneity of the energy saving effect of urbanization at different income levels the energy saving effect increases with income level the outcome may draw a causation picture on the relationship between energy consumption and urbanization in addition an in depth causation analysis on energy inefficiency of china s urbanization is carried out and policy recommendations are put forward accordingly

a thought experiment on demand revealing mechanisms demand revealing mechanisms allow individuals to influence social choice subject to a special tax designed to elicit truthful revelation of preferences either directly as in tideman and tullock 1976 based on earlier work by e c clarke or indirectly as in groves and ledyard 1977 the individual reports his willingness to pay for a marginal change in the budget the relation between the resulting special tax and the voter s effect on the social choice is such that a rational self interested voter would find it in his interest to respond such that for any budget level q his lindahl price the quantity that must be summed across taxpayers to locate the lindahl samuelson budget choice will bejust the sum of his revealed willingness to pay at q plus his assigned tax price let p p q be an individual s l indahl price marginal willingness to pay at q let t be the individual s assigned tax price and let p be the marginal willingness to pay at q that the individual reveals under the demand revealing incentive then what the demand revealing argument shows is that p p t if the individual reveals p 0 then p t and the individual prefers an increase in the budget and the reverse if he reveals p 0 either way he will be charged a special tax t aside from his regular tax price based simplifying slightly on the absolute value of p at the social choice and he will have an effect aq on the social choice which will be positive if p is positive and negative if p is negative social willingness to pay the vertical summation of demand curves will be just the sum across all taxpayers of their lindahl prices if the tax prices are assigned to balance the budget so that for each dollar in the budget t 1 then we expect to find the pareto efficient budget choice q where z p 0 at that point e p for voters who prefer a larger budget will just balance p for voters who prefer a smaller budget and e p 1 across all voters social willingness to pay for a marginal dollar in the budget is just 1 although the logic that leads to these results is not in dispute the significance of the argument is contingent on the validity of the conventional economic man model of rational choice as a good enough approximation of actual choice in this context

efficient collective decision making marginal cost pricing and quadratic voting we discuss the mechanisms related to quadratic voting from vickrey s counter speculation mechanism and his second price auction through the family of groves mechanisms and its most notable member the clarke mechanism to the expected externality mechanism goeree and zhang s mechanism the groves ledyard mechanism and the hylland zeckhauser mechanism we show that each mechanism that involves collective decisions has a quadratic aspect and that all of the mechanisms that we discuss are applications of the fundamental insight that for a process to be efficient all parties involved must bear the marginal social costs of their actions

vickrey auctions in the theory of expected utility with rank dependent probabilities abstract when decision makers maximize expected utility with rank dependent probabilities and the object being auctioned is a risky prospect then with independent private value vickrey auctions lose their demand revealing property moreover they might be non pareto optimal

learning dynamics for mechanism design an experimental comparison of public goods mechanisms in a repeated interaction public goods economy incomplete information and dynamic behavior may affect the realized outcomes of mechanisms known to be efficient in a complete information oneshot game an experimental test of five public goods mechanisms indicates that subjects with private information appear to best respond to recent observations this provides predictions about which mechanisms will generate convergence to their efficient equilibrium allocations these predictions match the experimental result that globally stable efficient mechanisms realize the highest efficiency in practice the simplicity of the suggested best response model makes it useful in predicting stability of mechanisms not yet tested

multidimensional incentive compatibility and mechanism design abstract incentive compatibility conditions are characterized in general for problems in which several goods are to be allocated and agents types are multidimensional two questions of monopoly pricing under multidimensional uncertainty are then analyzed first we find the optimal nonlinear pricing scheme when the monopolist knows only the distribution of an arbitrarily parameterized family of demand curves and second we solve for the optimal bundling policy for a multiproduct monopolist

is china s economic growth decoupled from carbon emissions abstract a comprehensive understanding of the interdependence between china s economy and carbon emissions can better serve china s transition towards a low carbon economy and can also provide reference for other developing countries the purpose of this paper was to investigate the dependence of china s economy on co2 emissions i the tapio decoupling model was applied to quantify the decoupling elasticity between china s economy and co2 emissions ii the structure decomposition technique was utilized to quantity the contribution of china s economic structure to the decoupling elasticity iii the combined decomposition model which combined cobb douglas c d production function with logarithmic mean divisia index lmdi technique and was solved the residual problem was employed to identify more driving factors labor input investment carbon coefficient energy structure energy intensity economic structure and technology state affecting the decoupling elasticity the main results were as follows i the decoupling elasticity showed a downward trend during the whole period and the decoupling state was characterized by two types expansive negative decoupling 2002 2005 and weak decoupling 2000 2002 and 2005 2014 ii the industry sector played the most negative effect on the decoupling process expect 2013 2014 from the cumulative effect the contribution of six sectors to promote decoupling effect was ranked as follows construction agriculture trade other transport industry iii the most critical factor driving the increased co2 emissions was the investment effect accounting for 145 34 of the cumulative total co2 emissions while the energy intensity effect contributed to a cumulative reduction in co2 emissions of 1443 72 mt finally some policy recommendations were offered to achieve the decoupling of china s economic growth and carbon emissions

exploring the scope of neurometrically informed mechanism design a basic goal in mechanism design is to construct mechanisms that simultaneously satisfy efficiency voluntary participation and dominant strategy incentive compatibility previous work has shown that this is impossible unless the agents and planner have sufficient information about each other and common knowledge these results have remained largely theoretical because the required information is generally not available in practical applications however recent work has shown that these limitations can be overcome in simple settings using neurometric technologies that provide noisy signals of subjects preferences that can be used in the mechanism design problem here we build on this work by carrying out two new experiments designed to test the extent to which these neurometrically informed mechanisms nims can be applied to more complicated and realistic environments we find robustness to large type and action space and to the degrees of loss and risk aversion observed in most of our sample

team selection with asymmetric agents abstract in shallow markets where there are mutual gains from cooperation among agents collusive behavior may occur even if it does not constitute a nash equilibrium yet such behavior is rarely sustainable bolle 1994 reports the results of one period team selection experiments in which subjects often did not follow the nash equilibrium behavior but engaged in tacit collusion we test the robustness of bolle s findings by introducing asymmetry into subjects characteristics and repeating the experiment for a number of periods we find that collusion is not sustainable and the outcomes converge to levels close to the nash equilibrium however the agent s actions stayed slightly above the nash equilibrium level in all experiments

environmental degradation economic growth and energy consumption evidence of the environmental kuznets curve in malaysia this paper tests for the short and long run relationship between economic growth carbon dioxide co2 emissions and energy consumption using the environmental kuznets curve ekc by employing both the aggregated and disaggregated energy consumption data in malaysia for the period 1980 2009 the autoregressive distributed lag ardl methodology and johansen juselius maximum likelihood approach were used to test the cointegration relationship and the granger causality test based on the vector error correction model vecm to test for causality the study does not support an inverted u shaped relationship ekc when aggregated energy consumption data was used when data was disaggregated based on different energy sources such as oil coal gas and electricity the study does show evidences of the ekc hypothesis the long run granger causality test shows that there is bi directional causality between economic growth and co2 emissions with coal gas electricity and oil consumption this suggests that decreasing energy consumption such as coal gas electricity and oil appears to be an effective way to control co2 emissions but simultaneously will hinder economic growth thus suitable policies related to the efficient consumption of energy resources and consumption of renewable sources are required

an evolutionary interpretation of van huyck battalio and beil s experimental results on coordination this paper proposes an adaptive interpretation of the results of some recent experiments with repeated tacit coordination games these experiments revealed several behavioral regularities including a systematic discrimination between strict nash equilibria in certain games that appear to be driven by strategic uncertainty and are not explained by traditional equilibrium refinements the observed patterns of discrimination correspond closely to predictions based on maynard smith s notion of evolutionary stability an adaptive model in the spirit of the evolutionary dynamics but recognizing the important differences between learning in human populations and evolution promises to yield a unified explanation of the results journal of economic literature classification numbers 020 026

when will fossil fuel reserves be diminished crude oil coal and gas are the main resources for world energy supply the size of fossil fuel reserves and the dilemma that when non renewable energy will be diminished is a fundamental and doubtful question that needs to be answered this paper presents a new formula for calculating when fossil fuel reserves are likely to be depleted and develops an econometrics model to demonstrate the relationship between fossil fuel reserves and some main variables the new formula is modified from the klass model and thus assumes a continuous compound rate and computes fossil fuel reserve depletion times for oil coal and gas of approximately 35 107 and 37 years respectively this means that coal reserves are available up to 2112 and will be the only fossil fuel remaining after 2042 in the econometrics model the main exogenous variables affecting oil coal and gas reserve trends are their consumption and respective prices between 1980 and 2006 the models for oil and gas reserves unexpectedly show a positive and significant relationship with consumption while presenting a negative and significant relationship with price the econometrics model for coal reserves however expectedly illustrates a negative and significant relationship with consumption and a positive and significant relationship with price consequently huge reserves of coal and low level coal prices in comparison to oil and gas make coal one of the main energy substitutions for oil and gas in the future under the assumption of coal as a clean energy source

is decoupling economic growth from fuel consumption possible in developing countries a comparison of china and india abstract a better understanding the coupling decoupling of economic growth from energy demand in china and india can serve both countries and other developing countries to achieve the goal of gaining higher economic growth with less energy demand to demonstrate the relationship between coupling decoupling economy and energy in china and india better this work has made following contributions i analyzes the decoupling elasticity between economic growth and energy consumption by using the tapio model ii explores the five key effects labor input investment energy structure energy intensity technology level of decoupling elasticity by combining the cobb douglas c d function and log mean divisia index lmdi method and iii evaluates the decoupling efforts by applying decoupling efforts model in china and india between 1990 and 2015 the decoupling elasticity results show china s decoupling elasticity curve is in an inverted u shaped trend and the decoupling elastic value is concentrated between 0 and 0 8 in most years showing a weak decoupling state furthermore the decoupling state is strong decoupling during 2014 2015 indicating china has initially achieved the decoupling of economy and energy consumption while india s decoupling elasticity presents irregular fluctuations indicating that india s decoupling status is not very satisfactory the decomposition results uncover that major effects of decoupling in china and india are similar i e the investment effect is the biggest driver which contributed to a cumulative increasing impact in energy consumption in china and india by 3017 10 million tonnes oil equivalent and 675 18 million tonnes oil equivalent respectively whereas the energy intensity effect is the greatest inhibiting factor which contributed to a cumulative reduction in energy consumption in china and india by 1437 81 million tonnes oil equivalent and 139 21 million tonnes oil equivalent the decoupling efforts results show decoupling effort in china is better than that in india improving energy efficiency is the leading contributor to china s decoupling efforts while advancing technology is the major contributor to india s decoupling effort

secure implementation experiments do strategy proof mechanisms really work strategy proofness requiring that truth telling is a dominant strategy is a standard concept used in social choice theory saijo et al 2003 argue that this concept has serious drawbacks in particular announcing one s true preference may not be a unique dominant strategy and almost all strategy proof mechanisms have a continuum of nash equilibria for only a subset of strategy proof mechanisms do the set of nash equilibria and the set of dominant strategy equilibria coincide for example this double coincidence occurs in the groves mechanism when preferences are single peaked we report experiments using two strategy proof mechanisms where one of them has a large number of nash equilibria but the other has a unique nash equilibrium we found clear differences in the rate of dominant strategy play between the two

major oil exporters may profit rather than lose in a carbon constrained world the organization of petroleum exporting countries opec claims compensation for losses in expected oil export revenues due to co2 mitigation measures in developing countries these losses are expected for two primary reasons a reduction in the consumption of oil in importing countries and a reduction in the producer price of oil taxation in an importing country implies a transfer of rents from producers to consumers so far most studies have focused on these two mechanisms and corroborated that revenue losses for opec are to be expected however there are also mechanisms that may be expected to raise the price of oil products in a cost effective regime for dealing with climate change i e a regime in which all or most countries participate and in which the same carbon price is applied on all carbon emitting activities the cost of using unconventional oil or synthetic diesel from coal will increase even more than the cost of using conventional oil given that reserves of conventional oil are expected to dwindle over time heavy oils and coal to liquids might set the long run price for liquid fuels which means that the price of oil would increase beyond the carbon fee i e the rent on conventional oil would increase we use an energy economic optimization model to analyze these three mechanisms we find that the net present value of opec revenue from conventional oil increases slightly at most by 4 percent with a global co2 restriction regime we also consider conditions under which this result does not hold

popularity of reinforcement based and belief based learning models an evolutionary approach in an evolutionary model players from a given population meet randomly in pairs each instant to play a coordination game at each instant the learning model used is determined via some replicator dynamics that respects payoff fitness we allow for two such models a belief based best response model that uses a costly predictor and a costless reinforcement based one this generates dynamics over the choice of learning models and the consequent choices of endogenous variables we report conditions under which the long run outcomes are efficient or inefficient and they support the exclusive use of either of the models or their co existence

out of equilibrium performance of three lindahl mechanisms experimental evidence abstract we describe an experimental comparison of the out of equilibrium performance of three allocation mechanisms designed to achieve lindahl outcomes as nash equilibria the mechanisms due to walker 1981 kim 1993 and chen 2002 we find that chen s mechanism which is supermodular converges closest and most rapidly to its equilibrium however we find that the properties that move subjects toward equilibrium in chen s mechanism typically generate sizeable taxes and subsidies when not in equilibrium and correspondingly large budget surpluses and deficits which typically far outweigh the surplus created by providing the public good the kim mechanism on the other hand converges relatively close to its equilibrium and exhibits much better out of equilibrium efficiency properties

toward to economic growth without emission growth the role of urbanization and industrialization in china and india abstract the contradiction between economic growth and carbon emissions in china and india is the most prominent in the world both countries have faced tremendous pressures to curb carbon emissions because they are major source of new added emission sources meanwhile both countries have faced greater pressures to achieve industrialization and urbanization in order to eradicate poverty better understanding the decoupling status and its drivers can serve to develop effective policy to achieve economic growth without an increase in emission this paper comparatively analyses the decoupling effect of the economic growth from the carbon emissions as well as its drivers during the period 1980 2014 in china and india the tapio decoupling model was used to analyze the decoupling status and the co integration theory and the impulse response functions were applied to investigate the effects of urbanization industrialization per capita gdp and carbon emission intensity to decoupling the results show that china mainly performed a weak decoupling of economic growth from carbon emissions in 1980 2014 while the decoupling status of india was no regular in china carbon emission intensity is the biggest contributor of decoupling followed by urbanization per capita gdp and industrialization in india the biggest driver of decoupling is also the carbon emission intensity followed by urbanization industrialization and per capita gdp therefore improving energy efficiency is the best policy to toward economic growth without emission growth in china and india

the demand revealing process to distribute the surplus contrary to established frequently repeated proposition that its budget surplus cannot be distributed to taxpayers without disturbing the incentive compatibility of the demand revealing process drp the surplus can be distributed by reapplying the key concept of the drp there will remain an aggregate refund error that in a bayesian sense is random with zero mean and which vanishes o 1 n 2 as the economy becomes large through replication to dela with income effects when one does not restrict the domain of the mechanism to separable utility functions i suggest a variation of the drp that preserves its incentive compatibility wgeb n is finite

non excludable public good experiments we conduct a two stage game experiment with a non excludable public good in the first stage two subjects choose simultaneously whether or not they commit to contributing nothing to provide a pure public good in the second stage knowing the other subject s commitment decision subjects who did not commit in the first stage choose contributions to the public good we found no support for the evolutionary stable strategy equilibrium and the ratio of subjects who did not commit to contributing nothing increased as periods advanced that is the free riding rate declined over time furthermore this behavior did not arise due to altruism or kindness among subjects but from spiteful behavior of subjects

relative performance of two simple incentive mechanisms in a public goods experiment we compare the performance of two incentive mechanisms in public goods experiments one mechanism the falkinger mechanism rewards and penalizes agents for deviations from the average contributions to the public good falkinger mechanism the other the compensation mechanism allows agents to subsidize the other agents contributions compensation mechanism it is found that both mechanisms lead to an increase in the level of contributions to the public goods however the falkinger mechanism predicts the average level of contributions more reliably than the compensation mechanism

convergence an experimental study of teaching and learning in repeated games nash equilibrium can be interpreted as a steady state where players hold correct beliefs about the other players behavior and act rationally we experimentally examine the process that leads to this steady state our results indicate that some players emerge as teachers those subjects who by their actions try to influence the beliefs of their opponent and lead the way to a more favorable outcome and that the presence of teachers appears to facilitate convergence to nash equilibrium in addition to our experiments we examine games with different properties from other experiments and show that teaching plays an important role in these games we also report results from treatments in which teaching is made more difficult in these treatments convergence rates go down and any convergence that does occur is delayed jel c70 c91 d83 d84

what will happen to the producer prices for fossil fuels if kyoto is implemented implementation of the kyoto commitments will result in lesser global fossil fuel consumption in 2010 than would occur in the absence of climate policy the paper explores how the consumption change resulting from climate policy implementation could affect the producer prices of fossil fuels the conclusion is that the price impact will be insignificant if the climate policy goals are established credibly and in the near future for that will give rationally behaving fossil fuel producers ample time to adjust production capacity to the changed outlook for future demand it is argued that as long as capacity develops in line with demand prices should remain the same irrespective of the speed and direction of demand change

when does learning in games generate convergence to nash equilibria the role of supermodularity in an experimental setting this study clarifies the conditions under which learning in games produces convergence to nash equilibria in practice previous work has identified theoretical conditions under which various stylized learning processes achieve convergence one technical condition is supermodularity which is closely related to the more familiar concept of strategic complementarities we experimentally investigate the role of supermodularity in achieving convergence through learning using a game from the literature on solutions to externalities we systematically vary a free parameter below close to at and beyond the threshold of supermodularity to assess its effects on convergence we find that supermodular and near supermodular games converge significantly better than those far below the threshold from a little below the threshold to the threshold the improvement is statistically insignificant within the class of supermodular games increasing the parameter far beyond the threshold does not significantly improve convergence simulation shows that while most experimental results persist in the long run some become more pronounced

on the generic nonoptimality of dominant strategy allocation mechanisms a general theorem that includes pure exchange economies it is shown that if an economy s participants cannot be separated into groups across which there are no potentially conflicting interests i e if the economy is indecomposable then every continuous truth dominant allocation mechanism will attain nonoptimal allocations on an open dense set of preference profiles classical edgeworth box exchange economies economies with no externalities and no production but with arbitrary numbers of consumers and goods as well as economies with public goods and economies with other kinds of externalities are all shown via simple arguments to be indecomposable the results are extended to cover nonrevelation mechanisms copyright 1990 by the econometric society

characterizations of the pivotal mechanism the pivotal mechanism is strategyproof demand revealing in public decision problems where preferences are quasi linear moreover no agent has an incentive to free ride by withdrawing from the committee and consuming whatever decision is taken by the remaining agents strategyproofness plus no free ride characterize the pivotal mechanism this mechanism is anonymous and neutral yet together strategyproofness anonymity and neutrality do not characterize it they will however if reasonable lower or upper bounds on final utilities are imposed our last characterization of the pivotal mechanism uses the no free ride axiom and two mild monotonicity properties but not strategyproofness

the economic consequences of social network structure we survey the literature on the economic consequences of the structure of social networks we develop a taxonomy of macro and micro characteristics of social interaction networks and discuss both the theoretical and empirical findings concerning the role of those characteristics in determining learning diffusion decisions and resulting behaviors we also discuss the challenges of accounting for the endogeneity of networks in assessing the relationship between the patterns of interactions and behaviors

the groves ledyard mechanism an experimental study of institutional design the groves ledyard mechanism theoretically can solve the free rider problem in public good provision in certain environments two questions are of overriding importance in implementing the mechanism the first is related to the actual performance of the mechanism in general the second is the choice of a punishment parameter which is the only parameter that is available for those who may want to actually use the mechanism thus the determination of the role of this variable on mechanism performance is fundamental for any advances along the lines of actual implementation in studying the groves ledyard mechanism we show that the punishment parameter plays a crucial role in the performance of the mechanism by using 1 and 100 we show that under the higher punishment parameter the groves ledyard equilibrium is chosen much more frequently a higher level of the public good is provided and efficiency is higher by examining two behavioral models we show that a higher leads to an increase in the probability of an individual choosing a best response predicted by the model the parameter alone explains nearly 70 of the data in both the cournot and the carlson auster behavioral model we also found that convergence to cournot behavior is faster and more stable under a high than under a low

evolutionary implementation and congestion pricing we consider an implementation problem faced by a planner who manages a roadway network the problem entails both hidden information and hidden actions we solve the planner s problem by introducing a new class of mechanisms and a new notion of implementation the mechanisms called price schemes attach transfers to the available routes they do not involve direct revelation the method of implementation is evolutionary requiring that players who follow any reasonable myopic adjustment process eventually learn to behave as the planner desires we show that efficient behaviour can be guaranteed using simple decentralized price schemes

information and conspiracy in sealed bid auctions abstract this paper examines the allocative properties of the sealed bid institution when different aspects of the available information to bidders are considered specifically we examine a the effect on price determination in repeated sealed bid auctions of post auction revelation of losing bids and b the effect on price determination when conspiratorial discussions are allowed

selection dynamics asymptotic stability and adaptive behavior selection dynamics are often used to distinguish stable and unstable equilibria this is particularly useful when multiple equilibria prevent a priori comparative static analysis this paper reports an experiment designed to compare the accuracy of the myopic best response dynamic and an inertial selection dynamic the inertial selection dynamic makes more accurate predictions about the observed mutual best response outcomes

renewable energy output co2 emissions and fossil fuel prices in central america evidence from a nonlinear panel smooth transition vector error correction model abstract this study examines the determinants of renewable energy consumption per capita for a panel of seven central american countries over the period 1980 to 2010 specifically we find that a long run cointegrated relationship exists between renewable energy consumption per capita real gdp per capita carbon emissions per capita real coal prices and real oil prices with the respective coefficients positive and statistically significant a structural break in the cointegrating relationship appears in 2002 which coincides with the establishment of the energy and environment partnership with central america initiative to expand the use of renewable energy sources recognizing the regime shift in 2002 we estimate a nonlinear panel smooth transition vector error correction model to show that for the post 2002 period the influence of renewable energy consumption per capita upon real coal and oil prices strengthened relative to the pre 2002 period as well as a greater sensitivity of real gdp per capita to carbon emissions per capita

iterative computation of cournot equilibrium abstract in a homogeneous coumot model with quasi concave profit functions the problem of determining an equilibrium can be posed as one of solving an equation in one real variable total sales if the response functions are monotone or firms are identical then a certain iterative process based on averaging converges to an equilibrium such iterations have the interpretation that every firm responds to the average of sales by other firms in brevious periods

rewards experience and decision costs in first price auctions consistent with a model of asymmetric risk aversion subjects in first price auctions consistently bid above the risk neutral nash prediction it has been argued that this is due to low opportunity cost of deviating from the risk neutral bid we increase opportunity cost and payoff levels by factors of 0 1 5 10 and 20 from the normal levels generating payoffs up to 250 for risk neutral subjects and observe an insignificant increase in the slope of individual bid functions the rmse of bids declines significantly this is consistent with a reward decision cost model of bidding behavior

monopoly behaviour decentralized regulation and contestable markets an experimental evaluation this study provides a comparative experimental evaluation of several alternative approaches to the single product monopoly problem we contrast incentive compatible decentralized regulatory mechanisms with notions of market contestability in a decreasing cost environment the decentralized regulatory mechanisms are found to be significantly more effective at restraining monopoly power than is allowing direct contestability but the regulatory mechanisms examined require that the regulatory agency know the market demand curve though not the industry cost curve since this is significantly more information than is required to implement direct contestability an interesting tradeoff is suggested does the greater efficiency in monopoly restraint provided by the regulatory mechanism relative to direct contestability outweigh the former s greater informational requirements

evolutionary drift and equilibrium selection this paper develops an approach to equilibrium selection in game theory based on studying the learning process through which equilibrium is achieved the differential equations derived from models of interactive learning typically have stationary states that are not isolated instead nash equilibria that specify different out of equilibrium behaviour appear in connected components of stationary states the stability properties of these components can depend critically on the perturbations to which the system is subjected we argue that it is then important to incorporate such drift into the model a sufficient condition is provided for drift to create stationary states with strong stability properties near a component of equilibria applications to questions of forward and backward induction are developed

decomposing the decoupling of co2 emissions and economic growth in brazil abstract this paper examines the occurrence of a decoupling between the growth rates in economic activity and co 2 emissions from energy consumption in brazil from 2004 to 2009 this decoupling was highlighted when economic activity and co 2 emissions moved in opposite directions in 2009 more generally we observe several periods of relative decoupling in brazil but not to the extent witnessed in 2009 to identify the determinants of emissions change we develop a decomposition model based on a log mean divisia index lmdi framework the results indicate that the carbon intensity and energy mix are the main determinant of emissions reduction in brazil between 2004 and 2009 modifications in the economy structure are also associated to emission mitigation in the period such evidence demonstrates similarities with events of decoupling registered for the interval 1980 1994 in brazil finds from brazil differ from observations in other countries in which improvement in energy intensity has been the most common determinant of emissions reduction

generalized groves ledyard mechanisms abstract groves and ledyard 1977 construct a mechanism for public goods procurement that can be viewed as a direct revelation groves mechanism in which agents announce a parameter of a quadratic approximation of their true preferences the mechanism s nash equilibrium outcomes are efficient the budget is balanced because groves mechanisms are balanced for the announced quadratic preferences tian 1996 subsequently discovered a richer set of budget balancing preferences we replicate the groves ledyard construction using this expanded set of preferences and uncover a new set of complex mechanisms that generalize the original groves ledyard mechanism the original mechanism however remains the most appealing in terms of both simplicity and stability

does urbanization lead to less energy use and lower co2 emissions a cross country analysis despite the relationship between urbanization energy use and co2 emissions has been extensively studied in recent years little attention has been paid to differences in development stages or income levels most previous studies have implicitly assumed that the impact of urbanization is homogenous for all countries this assumption can be questionable as there are many characteristic differences among countries of different levels of affluence this paper investigates empirically the effects of urbanization on energy use and co2 emissions with consideration of the different development stages using the stochastic impacts by regression on population affluence and technology stirpat model and a balanced panel dataset of 99 countries over the period 1975 2005 the findings suggest that the impact of urbanization on energy use and emissions varies across the stages of development surprisingly urbanization decreases energy use in the low income group while it increases energy use in the middle and high income groups the impact of urbanization on emissions is positive for all the income groups but it is more pronounced in the middle income group than in the other income groups these novel findings not only help advance the existing literature but also can be of special interest to policy makers and urban planners

panel estimation for co2 emissions energy consumption economic growth trade openness and urbanization of newly industrialized countries abstract this paper empirically examines the dynamic causal relationships between carbon dioxide emissions energy consumption economic growth trade openness and urbanization for the panel of newly industrialized countries nic using the time series data for the period 1971 2007 using four different panel unit root tests it is found that all panel variables are integrated of order 1 from the johansen fisher panel cointegration test it is found that there is a cointegration vector among the variables the granger causality test results support that there is no evidence of long run causal relationship but there is unidirectional short run causal relationship from economic growth and trade openness to carbon dioxide emissions from economic growth to energy consumption from trade openness to economic growth from urbanization to economic growth and from trade openness to urbanization it is found that the long run elasticity of carbon dioxide emissions with respect to energy consumption 1 2189 is higher than short run elasticity of 0 5984 this indicates that over time higher energy consumption in the newly industrialized countries gives rise to more carbon dioxide emissions as a result our environment will be polluted more but in respect of economic growth trade openness and urbanization the environmental quality is found to be normal good in the long run

an experimental analysis of unanimity in public goods provision mechanisms the paper reports on an experimental investigation of four methods of allocating public goods the two basic processes studied are direct contribution and a public goods auction process both of these processes are studied with and without an additional unanimity feature the results suggest that the auction process outperforms direct contribution the effect of unanimity is to decrease the efficiency of both processes much of the paper is focused on an analysis of these results

decoupling economic growth from carbon emissions growth in the united states the role of research and development abstract the united states has achieved economic growth compatible with carbon reduction since 2007 this work is addressed to understand the eight effects especially effects related to research development rd whereas economic scale was the primary inhibitor to the drop of carbon emission followed by investment intensity population size and sectoral energy structure the results of decoupling efforts analysis uncover that energy intensity r d intensity r d efficiency and sectoral carbon intensity contributed to decoupling economic growth from carbon emission whereas investment intensity population size and sectoral energy structure did not contribute to the decoupling finally some policy implications are proposed

does increasing investment in research and development promote economic growth decoupling from carbon emission growth an empirical analysis of brics countries abstract it is generally recognized that increasing research and development investment is an effective measure to promote economic and social progress an open question is if increasing research and development investment help economic growth decoupling from carbon emission this study investigates research and development investment and carbon emission in brics countries by using the fully modified ordinary least squares for empirical estimation from 1996 to 2014 the results show that every 1 increase in research and development investment carbon emissions will be decreased by 0 8122 for the brics as a whole which indicates increasing research and development investment has a positive impact on decoupling economic growth from environmental pressure for individual this impact is most significant in china weak in russia and india however it also should be noted that only increasing research and development investment cannot achieve the decoupling between economic growth and carbon emission because other factors such as economic activity industrialization and urbanization renewable energy also influences the decoupling economic growth from carbon emission the results also show that economic activity industrialization and urbanization pose negative impact on the decoupling whereas renewable energy consumption promote the decoupling

does the use of renewable energy sources mitigate co2 emissions a reassessment of the us evidence abstract previous research on the determinants of co 2 emissions has concluded that although increasing nuclear energy consumption can help to mitigate emissions increasing use of renewable energy sources is not effective in this regard these studies however do not consider energy prices as a possible driver of energy demand and hence of emissions and we find that this omission and the choice of functional form materially alters the outcome in the us case specifically our cointegration and granger causality test results indicate that co 2 emission levels are negatively related to the use of renewable energy but are unrelated to nuclear energy consumption

the becker degroot marschak mechanism is not necessarily incentive compatible even for non random goods abstract this paper uses results from karni e safra z 1987 preference reversals and the observability of preferences by experimental methods econometrica 55 675 685 and karni e 1989 generalized expected utility analysis of multivariate risk aversion international economic review 30 297 305 to show that the becker degroot marschak mechanism is not always incentive compatible even when the item to be valued involves no uncertainty contrary to several recent assertions

impact of natural gas consumption on co 2 emissions panel data evidence from china s provinces abstract this study utilizes 1995 2014 panel data of the 30 provinces in china to investigate the existence of the environmental kuznets curve ekc for carbon dioxide co 2 emissions in china the potential impact of natural gas consumption on co 2 emissions is also analyzed according to the panel fully modified ordinary least squares fmols and panel dynamic ols dols estimation results in the long run an inverted u shaped ekc link exists between per capita co 2 emissions and per capita gross domestic product gdp in the panel fmols model and panel dols model with 99 261 yuan and 59 159 yuan for per capita gdp the ekc of china will reach its peak by around 2029 or 2019 respectively furthermore natural gas consumption has a significant negative impact on co 2 emissions which indicates that 1 increase in natural gas consumption for the panel fmols model and panel dols model will decrease co 2 emissions by 0 033627 or 0 054914 respectively at the provincial level provinces in which the ekc hypothesis holds are predominantly concentrated in central and eastern china and the energy consumption structure share of natural gas in total energy consumption may affect the occurrence of a significant negative impact of natural gas consumption on co 2 emissions another finding of this study is that both the existence of ekc and the occurrence of a positive negative impact of natural gas consumption on co 2 emissions are independent of the individual provincial per capita gdp

an experiment in the demand revealing process the principal findings of this experiment are it is somewhat time consuming but not otherwise difficult to employ the demand revealing process in groups of 10 to 60 the ability of the demand revealing process to take account of intensities of preferences is appreciated by many of the persons who have used the process but the departure from one man one vote is strongly resisted by others the outcomes reached by demand revealing differed from majority rule in about one tenth of the cases the improvement in efficiency associated with these reversals of majority rule was 2 25 percent of the net benefit of making the efficient decisions the clarke taxes which would decline in percentage terms as group size increased were 3 04 percent of the net value of efficient decisions for the decisions studied

implementing efficient multi object auction institutions an experimental study of the performance of boundedly rational agents abstract we study three alternative implementations of the vickrey multi unit demand auction vickrey s original static sealed bid auction and two dynamic ausubel auctions with and without public dropout information reported during the auction although implemented by a weaker solution concept behavior in the dynamic vickrey auction with the public dropout information comes significantly closer to the theoretical prediction of sincere bidding bidding one s valuations than either the static vickrey auction or the dynamic auction without dropout information this suggests a possible tradeoff between the simplicity and transparency of a mechanism and the strength of its solution concept when agents are still learning and or when players are not fully rational drawing on results from related single unit and multi unit demand auctions and the results of a new single unit demand auction experiment we provide important insights into the behavioral mechanism underlying the superior performance of the ausubel auction with feedback information

empirical analysis of the environmental and energy policies in some developing countries using widely employed macroeconomic indicators the cases of brazil china and india abstract this paper proposes an empirical analysis concerning the environmental and energy policies of some important developing countries brazil china and india today present in the international scenario with very different features than in the past the research is carried out using two of the most important macroeconomic indicators several times proposed in the field of policy analysis emission intensity ratio and energy intensity ratio moreover the emission intensity ratio is used in order to verify the empirical existence of the so called environmental kuznets curve for the three countries for what concerns this last point final results do not correspond closely to the theoretical strict formulations hypothesised in the classical environmental kuznets curve model this paper follows completing and concluding the previous one carried out by the same author for some industrialised countries after a brief but ineluctable premise considering the theoretical basic assumptions to define the question and regarding general statements the specific cases are analysed main findings show that resulting trends in these developing countries are different and furthermore they differ from those already observed in industrialised ones

renewable energy consumption economic growth nexus for china abstract the aim of this paper is to investigate the relationship between renewable energy consumption and economic growth in china for the period 1977 2011 autoregressive distributed lag approach ardl to cointegration and johansen cointegration techniques are employed by including intermittent variables namely carbon dioxide emissions and labor we also employed granger causality test in order to determine the direction of the causality among the variables the results show that there is a bi directional long term causality between renewable energy consumption and economic growth this finding implies that growing economy in china is propitious for the development of renewable energy sector which in turn helps to boost economic growth we also find that labor influences renewable energy consumption in the short term however there is no evidence of long or short run causality between carbon emissions and renewable energy consumption this implies that actual level of renewable energy in china is still insignificant and not considerably exploited in order to contribute to the mitigation of carbon dioxide emissions

implementation via approval mechanisms abstract we focus on the single peaked domain and study the class of generalized approval mechanisms g a m s first players simultaneously select subsets of the outcome space and scores are assigned to each alternative and then a given quantile of the induced score distribution is implemented our main finding is that essentially for every nash implementable welfare optimum including the condorcet winner alternative there exists a gam that nash implements it importantly the gam that nash implements the condorcet winner alternative is the first simple simultaneous game with this feature in the literature

experiments with the pivot process for providing public goods interest in demand revealing mechanisms for providing public goods has both waned and then renewed over the past two decades the possibility of using such mechanisms in different venues than originally anticipated sparked the research reported here the specific motivation for this paper is to conduct a series of simple direct tests of one version of the class of mechanisms failure of demand revelation was much more expensive than we had expected even when compared to previous research with related mechanisms the reason for this remains an open question

equilibrium play in large group market entry games coordination behavior is studied experimentally in a class of noncooperative market entry games featuring symmetric players complete information zero entry costs and several randomly presented values of the market capacity once the market capacity becomes publicly known each player must decide privately whether to enter the market and receive a payoff which increases linearly in the difference between the market capacity and the number of entrants or stay out payoffs for staying out are either positive giving rise to the domain of gains or negative giving rise to the domain of losses the major findings are substantial individual differences that do not diminish with practice aggregate behavior that is organized extremely well in both the domains of gains and losses by the nash equilibrium solution and variations in the population action strategies with repeated play of the stage game that are accounted for by a variant of an adaptive learning model due to roth and erev 1995

public goods and voting on formal sanction schemes abstract the burgeoning literature on the use of sanctions to support the provision of public goods has largely neglected the use of formal or centralized sanctions we let subjects playing a linear public goods game vote on the parameters of a formal sanction scheme capable of either resolving or exacerbating the free rider problem depending on parameter settings most groups quickly learned to choose parameters inducing efficient outcomes we find that cooperative orientation political attitude gender and intelligence have a small but sometimes significant influence on voting

quadratic voting and the public good introduction this introduction to the public choice special issue on quadratic voting qv and the public good provides an opinionated narrative summary of the contents and surveys the broader literature related to qv qv is a voting rule proposed by one of us weyl quadratic vote buying http goo gl 8yeo73 2012 lalley and weyl quadratic voting https papers ssrn com sol3 papers cfm abstract id 2003531 2016 building off earlier work by groves and ledyard econometrica 45 4 783 810 1977a hylland and zeckhauser a mechanism for selecting public goods when preferences must be elicited kennedy school of government discussion paper d 70 1980 where individuals buy as many votes as they wish by paying the square of the votes they buy using some currency an appreciation of the history of research in the field suggests that qv is uniquely practically relevant compared to the other approximately pareto efficient mechanisms economists have proposed for collective decisions on public goods however it faces a number of sociological and ethical concerns regarding how a political system organized around qv would achieve the efficiency aims stated in abstract theory and whether the pure aggregate income maximizing definition of efficiency qv optimizes in its simplest form is desirable the papers in this volume flesh out and formalize these concerns but also provide important responses in two ways by suggesting domains where they are unlikely to be applicable primarily related to survey research of various kinds and versions of qv using an artificial currency that maintain many of qv s benefits while diffusing the most important critiques together this work suggests both a practical path for applying qv in the near term and a series of research questions that would have to be addressed to broaden its application

rationalizability learning and equilibrium in games with strategic complementarities we study a rich class of noncooperative games that includes models of oligopoly competition macroeconomic coordination failures arms races bank runs technology adoption and diffusion r d competition pretrial bargaining coordination in teams and many others for all these games the sets of pure strategy nash equilibria correlated equilibria and rationalizable strategies have identical bounds also for a class of models of dynamic adaptive choice behavior that encompasses both best response dynamics and bayesian learning the players choices lie eventually within the same bounds these bounds are shown to vary monotonically with certain exogenous parameters we study the class of noncooperative supermodular games introduced by topkis 1979 and further analyzed by vives 1985 1989 who also pointed out the importance of these games in industrial economics supermodular games are games in which each player s strategy set is partially ordered the marginal returns to increasing one s strategy rise with increases in the competitors strategies so that the game exhibits strategic complementarity 2 and if a player s strategies are multidimensional marginal returns to any one com ponent of the player s strategy rise with increases in the other components this class turns out to encompass many of the most important economic applications of noncooperative game theory in macroeconomics diamond s 1982 search model and bryant s 1983 1984 rational expectations models can be represented as supermodular games in each of these models more activity by some members of the economy raises the returns to increased levels of activity by others in oligopoly theory some models of bertrand oligopoly with differentiated products qualify as supermodu lar games in these games when a firm s competitors raise their prices the marginal profitability of the firm s own price increase rises a similar structure is present in games of new technology adoption such as those of dybvig and spatt 1983 farrell and saloner 1986 and katz and shapiro 1986 when more users hook into a communication system or more manufacturers adopt an interface standard the marginal return to others of doing the same often rises similarly in some specifications of the bank runs model introduced by diamond and dybvig 1983 when more depositors withdraw their funds from a bank it is more worthwhile for other depositors to do the same in the warrant exercise

implementation of mechanism by processes public good allocation experiments abstract the design problem for decentralized public good provisions is outlined hyothesized to be incomplete if the process the informational logic of decisionreaching is left unspecified experiments with the incentive compatible deficit mechanism and two different processes smith and seriatim are reported more failures to agree are found with the smith process but neither set of experiments supports a hypothesis of outcomes approximating the pareto efficient cournot nash equilibrium allocation this is hypothesized to result from the failure of the deficit mechanism to balance the budget

decoupling analysis of world economic growth and co2 emissions a study comparing developed and developing countries abstract this study discusses decoupling trends in world economic growth and co2 emissions based on decoupling theories the decoupling trends of economic growth and co2 emissions in typical developed and developing countries in 1965 2015 are compared by using an oecd decoupling factor model and tapio elastic analysis tea method and the igtx decoupling model on this basis this study evaluates correlations of these three decoupling models by employing the spearman s rank correlation coefficient the research indicates that owing to the igtx decoupling model being easily affected by other non environmental factors the shorter the research period of interest the more easily the decoupling indices distort while the accuracy of the tea method is not limited by the length of the research period of interest with respect to the overall decoupling trend the research shows that 1 strong decoupling is found in developed countries and slightly increases in the stabilisation thereof the decoupling state in the united kingdom and germany is more stable than that of the united states and france 2 developing countries demonstrate weak decoupling that fluctuates significantly and lacks regularity the stabilisation and optimisation of china in decoupling process are better than those of brazil and india finally according to research conclusions relevant policies and suggestions are proposed in view of energy savings and emissions reduction in developing countries

the effects of energy prices urbanization and economic growth on energy consumption per capita in 186 countries abstract energy is the material basis for the development of national economy however energy shortages become increasingly serious as a result of the growing population and the modernization of the global economy therefore investigating drivers of energy consumption is crucial to coordinate the relationship between energy and national economic growth this study aimed to uncover the effects of energy prices ep urbanization urn and gdp on per capita energy consumption ec with considering the income gaps between countries the paper adopted the granger causality test approach and the impulse response function analysis by using long term time series data on ec ep urn and gdp during 1980 2015 in 186 countries divided into three groups high income upper and lower middle income groups the results indicated a long term co integration relationship among these variables granger causality test showed a bidirectional causality between urn and ec in high and lower middle income countries but no causality in the upper middle income group in all groups there is a bidirectional causal link between gdp and ec the results of irf showed that as urbanization level improves its role in promoting ec become less significant moreover ep affected ec negatively both in high and lower middle income countries but it has a positive impact on ec in upper middle income countries the study supports the finding that urbanization is an important factor affecting energy consumption per capita although its contributions vary across income groups which offers a new pathway to control the excessive growth of energy consumption

decoupling global environmental pressure and economic growth scenarios for energy use materials use and carbon emissions in recent decades economic growth and increased human wellbeing around the globe have come at the cost of fast growing natural resource use including materials and energy and carbon emissions leading to converging pressures of declining resource security rising and increasingly volatile natural resource prices and climate change we ask whether well designed policies can reduce global material and energy use and carbon emissions with only minimal impacts on improvements in living standards we use a novel approach of combined economic and environmental modelling to assess the potential for decoupling for 13 world regions and globally we apply a production territorial and consumption approach to discuss regional differences in natural resource use and carbon emissions across three stylized policy outlooks a reference case with no significant changes to environment and climate policies a high efficiency outlook involving a global carbon price rising from 50 to 236 constant price per tonne of co2 between 2010 and 2050 and improvements in resource efficiency rising from 1 5 historically to between 3 5 and 4 5 in the scenarios and a medium efficiency outlook midway between the no change and high outlooks we find that global energy use will continue to grow rapidly under all three scenarios from 17 billion tonnes of oil equivalent toe in 2010 to between 30 and 36 billion toe carbon emissions would be considerably lower with a global carbon price less than half the level of the reference case 29 37 billion tonnes of co2 instead of 74 billion tonnes and also material use would grow much more slowly under a carbon price and significant investment to increase resource efficiency 95 instead of 180 billion tonnes of materials we find that oecd economies have significant potential to reduce their material throughput and carbon emissions with little impact on economic growth and that developing economies such as china could expand their economies at much lower environmental cost globally the effects of very strong abatement and resource efficiency policies on economic growth and employment until 2050 are negligible our study suggests that decarbonization and dematerialization are possible with well designed policy settings and would not contradict efforts to raise human wellbeing and standards of living the research demonstrates the usefulness of scenarios for unpacking environmental and economic outcomes of policy alternatives the findings have important implications for future economic opportunities in a highly resource efficient and low carbon global economy to set human development and achieving the sustainable development goals on a more resilient path

stability of the groves and ledyard mechanism abstract it is shown that the nash equilibria of the game defined by the groves and ledyard mechanism in a public good economy can be made locally stable under cournot best replay behavior and general assumptions on preferneces

stable implementation of lindahl allocations abstract the resource allocation mechanisms using nash equilibrium as the solution concept in economies with incomplete information rely on the assumption that agent s disequilibrium messages converge to a nash equilibrium the mechanisms implementing lindahl allocations are however extremely unstable under the most used process to represent disequilibrium behaviour in games of incomplete information the cournot process we provide a new mechanism overcoming the instability difficulty in the case of quasi linear preferences