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SMU SOE Seminar (Mar 1, 2018): River Sharing: Implementation of Efficient Water Consumption
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TOPIC:
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RIVER SHARING: IMPLEMENTATION OF EFFICIENT WATER CONSUMPTION
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ABSTRACT
We examine the river sharing problem with a novel focus on implementing efficient outcomes. We introduce a class of two-stage games in which agents rst announce desired levels of consumption and then bargain over monetary compensations. An impartial outside observer with partial information connects the two stages by conditioning agents' recognition probabilities in the second stage on the allocation realized in the rst stage. We identify ways of setting recognition probabilities that give agents incentives to choose the efficient allocation of water all the while ensuring that the surplus obtained from efficient water usage ends up being shared in a fair way. In particular, we take an axiomatic approach to determine three new and implementable solutions.
Keywords: River sharing, Implementation, Bargaining, Consistency
JEL Classification: C7, D4, Q34
Click here to view the paper.
Click here to view the CV.
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PRESENTER
Jens Leth Hougaard
University of Copenhagen
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RESEARCH FIELDS
Applied Microeconomics
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DATE:
1 March 2018 (Thursday)
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TIME:
4pm - 5.30pm
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VENUE:
Meeting Room 5.1, Level 5
School of Economics
Singapore Management University
90 Stamford Road
Singapore 178903
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