A Coalition-Formation Approach to Equilibrium Federations and Trading Blocs
A Coalition-Formation Approach to Equilibrium Federations and Trading Blocs
复制标题
平衡联盟和贸易集团的联盟形成方法
DOI:
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发表时间:
1997
期刊:
影响因子:
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通讯作者:
A. Sengupta
中科院分区:
文献类型:
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作者:
J. Burbidge;J. DePater;Gordon M. Myers;A. Sengupta
The authors develop a model in which states may choose to form coalitions to capture efficiency gains from policy coordination. Joining a coalition entails setting the policy variable to maximize the coalition's aggregate payoff at a Nash equilibrium against nonmembers and to commit to a transfer scheme to share the gains. With two states, the unique equilibrium structure is complete federation; with more than two states, incomplete federation can be the unique equilibrium. Interpreting this result in terms of custom unions, the trend to trading-bloc formation may be equilibrium behavior even with cooperation and transfers within customs unions. Copyright 1997 by American Economic Association.