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All-Way Stops by Jiasun Li :: SSRN
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We point out that the existing mechanism does not permit a Nash equilibrium for all drivers to abide by, and prove that erecting one fewer sign (e.g. only three stop signs at a four-way crossroad) does. Not only is the simpler mechanism self-enforcing, but its resulting equilibrium outcome also enjoys significant economic gains. For example, for fuel gas savings alone, the new mechanism is estimated to reduce 0.5 months of gas consumption every year, let alone savings in drivers' time, infrastructure costs, carbon/pollutants emissions, and police expenditure. <P></p> </div> <center> </center> <p><strong>Keywords:</strong> carbon emission, infrastructure spending, game theory, mechanism design, Nash equilibrium, police funding, traffic</p> <div id="ssrn-paper-declarations-widget" data-papers-api-url="https://api.ssrn.com/papers" data-abstract-id="4197885"></div> <script type="module" src="https://cdn.ssrn.com/ssrn-paper-declarations-widget/app.bundle.js"></script> <p><strong>JEL Classification:</strong> A12, C72, D49, H79, K39, L99, Q35, Q49, Q53, Q54, R41</p> <p> <strong class="hidden-xs hidden-sm">Suggested Citation:</strong> <a href="#" class="suggested-citation-btn btn-link visible-xs visible-sm">Suggested Citation<i class="icon icon-gizmo-navigate-right"></i></a> </p> <div id="selectable" onclick="selectText('selectable')" class="suggested-citation"> Li, Jiasun, All-Way Stops (January 27, 2023). George Mason University School of Business Research Paper Forthcoming, Available at SSRN: <a href="https://ssrn.com/abstract=4197885" target="_blank">https://ssrn.com/abstract=4197885</a> or <a href="https://dx.doi.org/10.2139/ssrn.4197885" class="textlink" target="_blank">http://dx.doi.org/10.2139/ssrn.4197885 </a> </div> <a href="#" class="show-contact-btn btn-link" role="button" aria-label="Show contact information"> <span aria-hidden="true"></span><i class="icon icon-gizmo-navigate-right" aria-hidden="true"></i> </a> <div class="contact-information"> <div class="author"> <h3><a href="https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=1868171" target='_blank'>Jiasun Li (Contact Author)</a></h3> <div class="block-quote"> <a href="http://business.gmu.edu/" target="_blank"><img class="logo" src="https://papers.ssrn.com/Organizations/OrgBrandings/305798_16286.gif" alt="George Mason University - Department of Finance"></a> <h4>George Mason University - Department of Finance ( <a href="javascript:void(0)" onClick=" appData.push({ event: 'conversionDriverClick', conversionDriver: { name: 'article-page:email' } }); window.open('GetAuthorEmail.cfm?abid=4197885&pag=papers','Author_Email','toolbar=no,menubar=no,scrollbars=yes,resizable=no,width=700,height=470')">email</a> )</h4> <p> <span>Fairfax, VA 22030<br>United States<br></span> </p> <p> <span>HOME PAGE: <a href="http://sites.google.com/view/jiasunli" target="HOMEPAGE" title="http://sites.google.com/view/jiasunli">http://sites.google.com/view/jiasunli</a></span> </p> </div> </div> </div> <div id="mendeley-data-widget" data-abstract-id="4197885" data-mendeley-url="https://api.ssrn.com/mendeley/" data-assets="https://cdn.ssrn.com/ssrn-mendeley-data-widget/"></div> <script type="text/javascript" async="async" src="https://cdn.ssrn.com/ssrn-mendeley-data-widget/app.bundle.js"></script> <link rel="stylesheet" href="https://cdn.ssrn.com/ssrn-mendeley-data-widget/style.bundle.css" type="text/css"/> </div> <div class="abstract-buttons bottom"> <div class="button-wrapper inline"> <a href="Delivery.cfm/SSRN_ID4277218_code1868171.pdf?abstractid=4197885&mirid=1" class="button-link primary " data-abstract-id='4197885' data-abstract-title='All-Way Stops' onclick='sendLeadBoxerEvent()' > <span><img alt='PDF icon' src='https://static.ssrn.com/cfincludes/img/icons/icon-adobe-pdf.svg' title='PDF icon' />Download This Paper</span> </a> </div> <div class="button-wrapper inline"> <a href="Delivery.cfm/SSRN_ID4277218_code1868171.pdf?abstractid=4197885&mirid=1&type=2" class="button-link secondary " data-abstract-id='4197885' data-abstract-title='All-Way Stops' onclick='sendLeadBoxerEvent()' > <span>Open PDF in Browser</span> </a> </div> </div> <div class="clearfix"></div> <div> <link rel="stylesheet" href="https://cdn.ssrn.com/ssrn-paper-references-widget/bundle.css" type="text/css"/> <script type="text/javascript" async="async" src="https://cdn.ssrn.com/ssrn-paper-references-widget/bundle.js"></script> <div id="paper-references-widget" data-paper-id="4197885" data-user-id="1" data-references-api-url="https://static.ssrn.com/cfc/abstract/abstract.cfc?method=getReferences"></div> <link rel="stylesheet" href="https://cdn.ssrn.com/ssrn-paper-citations-widget/bundle.css" type="text/css"/> <script type="text/javascript" async="async" src="https://cdn.ssrn.com/ssrn-paper-citations-widget/bundle.js"></script> <div id="paper-citations-widget" data-paper-id="4197885" data-user-id="1" data-citations-api-url="https://static.ssrn.com/cfc/abstract/abstract.cfc?method=getCitedbys"></div> </div> </div> <div class="col-sm-4 abstract-side-col no-padding"> <div class="row"> <div class="box-container box-registration-call-out"> <h2 class="section-title">Do you have a job opening that you would like to promote on SSRN?</h2> <div class="stats row"> <div class="button-wrapper inline"> <a href="https://www.ssrn.com/index.cfm/en/Announcements-Jobs/" class="button-link primary " > <span>Place Job Opening</span> </a> </div> </div> </div> </div> <div class="row"> <div class="box-paper-statics"> <div class="row"> <div class="col-xs-12"> <h2>Paper statistics</h2> </div> </div> <div class="stats row"> <div class="stat col-lg-4"> <div class="lbl">Downloads</div> <div class="number" title=""> 1,544</div> </div> <div class="stat col-lg-4"> <div class="lbl">Abstract Views</div> <div class="number" title=""> 9,574</div> </div> <div class="stat col-lg-4"> <div title="SSRN compiles rankings of Papers in our system based on a number of measures, such as downloads and citations. 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