We consider a monopolist who sells identical objects of common but unknown value in a herding-prone environment. Buyers make their purchasing decisions sequentially, and rely on a private signal as well as We consider a monopolist who sells identical objects of common but previous buyers actions...

We analyze vertical product differentiation in a model where a good's quality is unobservable to buyers before purchase, a continuum of quality levels is technologically feasible, and minimum quality is supplied under competitive conditions. After purchase the true quality of the good is...

Workfare proposals concentrate on the work incentives for welfare recipients, thus focusing on the labor supply side. This paper analyzes the effects workfare has on labor demand when the labor market is unionized. As workfare reduces the number of recipients of public financial assistance, a...

This survey reviews the recent literature on the double-dividend hypothesis of environmental taxes and discusses some recent extensions of the standard model such as the distributional consequences and the importance of the non-separability assumption between consumption goods and environmental...

Many countries suffer from persistently high unemployment rates. The scope for labour market reforms is often limited to measures that hurt neither shareholders nor workers. This paper develops a policy proposal, which allows the government to reduce wage costs without changing the income...

This survey reviews the recent literature on the double-dividend hypothesis of environmental taxes and discusses some extensions of the standard model such as the distributional consequences and the importance of the non-separability assumption between consumption goods and environmental quality...

Ein moderner und nachhaltiger Sozialstaat braucht eine gesunde Mischung aus staatlicher Fürsorge und Eigenverantwortung. Die Hartz-Reformen versuchten, die richtige Mischung mit dem Prinzip des Förderns und Forderns in der Grundsicherung herzustellen. Zahlreiche Menschen sind seither nicht...