This book presents a theoretical treatment of externalities (i.e. uncompensated interdependencies), public goods, and club goods. The new edition updates and expands the discussion of externalities and their implications, coverage of asymmetric information, underlying game-theoretic formulations, and intuitive and graphical presentations. Aimed at well-prepared undergraduates and graduate students making a serious foray into this branch of economics, the analysis should also interest professional economists wishing to survey recent advances in the field. No other single source for the range of materials explored is currently available. Topics investigated include Nash equilibrium, Lindahl equilibria, club theory, preference-revelation mechanism, Pigouvian taxes, the commons, Coase Theorem, and static and repeated games. The authors use mathematical techniques only as much as necessary to pursue the economic argument. They develop key principles of public economics that are useful for subfields such as public choice, labor economics, economic growth, international economics, environmental and natural resource economics, and industrial organization.

Abstract.We describe the construction of a new version of the Europewide E-OBS temperature (daily minimum, mean and maximum values) and precipitation dataset. This version provides an improved estimation of interpolation uncertainty through the calculation of a 100-member ensemble of realizations of each daily field. The dataset covers the period back to 1950, and provides gridded fields at a spacing of 0.25• x 0.25 • in regular latitude/longitude coordinates. As with the original E-OBS dataset, the ensemble version is based on the station series collated as part of the ECA&D initiative. Station density varies significantly over the domain, and over time, and a reliable estimation of interpolation uncertainty in the gridded fields is therefore important for users of the dataset. The uncertainty quantified by the ensemble dataset is more realistic than the uncertainty estimates in the original version, although uncertainty is still underestimated in data-sparse regions. The new dataset is compared against the earlier version of E-OBS and against regional gridded datasets produced by a selection of National Meteorological Services (NMSs). In terms of both climatological averages and extreme values, the new version of E-OBS is broadly comparable to the earlier version. Nonetheless, users will notice differences between the two E-OBS versions, especially for precipitation, which arises from the different gridding method used. Keypoints:• An improved uncertainty estimate is provided through the generation of multiple realizations• The new dataset is broadly consistent with the original version

Historical reanalyses that span more than a century are needed for a wide range of studies, from understanding large‐scale climate trends to diagnosing the impacts of individual historical extreme weather events. The Twentieth Century Reanalysis (20CR) Project is an effort to fill this need. It is supported by the National Oceanic and Atmospheric Administration (NOAA), the Cooperative Institute for Research in Environmental Sciences (CIRES), and the U.S. Department of Energy (DOE), and is facilitated by collaboration with the international Atmospheric Circulation Reconstructions over the Earth initiative. 20CR is the first ensemble of sub‐daily global atmospheric conditions spanning over 100 years. This provides a best estimate of the weather at any given place and time as well as an estimate of its confidence and uncertainty. While extremely useful, version 2c of this dataset (20CRv2c) has several significant issues, including inaccurate estimates of confidence and a global sea level pressure bias in the mid‐19th century. These and other issues can reduce its effectiveness for studies at many spatial and temporal scales. Therefore, the 20CR system underwent a series of developments to generate a significant new version of the reanalysis. The version 3 system (NOAA‐CIRES‐DOE 20CRv3) uses upgraded data assimilation methods including an adaptive inflation algorithm; has a newer, higher‐resolution forecast model that specifies dry air mass; and assimilates a larger set of pressure observations. These changes have improved the ensemble‐based estimates of confidence, removed spin‐up effects in the precipitation fields, and diminished the sea‐level pressure bias. Other improvements include more accurate representations of storm intensity, smaller errors, and large‐scale reductions in model bias. The 20CRv3 system is comprehensively reviewed, focusing on the aspects that have ameliorated issues in 20CRv2c. Despite the many improvements, some challenges remain, including a systematic bias in tropical precipitation and time‐varying biases in southern high‐latitude pressure fields.

We investigate the pure-strategy Nash equilibria of asymmetric, winner-take-all, imperfectly discriminating contests, focussing on existence, uniqueness and rent dissipation. When the contest success function is determined by a production function with decreasing returns for each contestant, there is a unique pure-strategy equilibrium. If marginal product is also bounded, limiting total expenditure is equal to the value of the prize in large contests even if contestants differ. Partial dissipation occurs only when infinite marginal products are permitted. Our analysis relies heavily on the use of ‘share functions’ and we discuss their theory and application. Copyright Springer-Verlag Berlin/Heidelberg 2005Contests, Rent-seeking, Noncooperative games, Share functions, Share correspondences.,