We explore the nature of tax complexity in competitive political systems. The analysis does not rely upon imperfections in the operation of the public sector. Complexity arises in the course of the struggle for office, during which political parties are induced to propose platforms that...

Why is an understanding of political competition essential for the study of public economics and public policy generally? How can political competition be described and understood, and how does it differ from its strictly economic counterpart? What are the implications of the fact that policy...

This article draws attention to the interdependence of regulation and taxation. The authors analyze the nature of policy equilibrium, as well as the implications of historically important political and economic shocks, for the joint use of the two policy instruments in a framework that embodies...

The paper examines the application of the concept of economic efficiency to collective decision processes and public sector institutions. We show that the existence of transactions costs and of collective decision-making procedures requires a broader framework for judging policy processes and...

Tax systems have changed considerably in the past three decades. These fundamental changes have been the result of economic globalization, new political stances, and also of developments in public finance thought. The chapters in this volume offer a critical review of those changes from the...

Entry deterrence is examined under demand uncertainty and economies of scale. Both incumbent and potential entrant select capacity before demand is observed, provided expected discounted profit exceeds the cost of cap acity (risk neutrality). As in the certainty case, entry deterrence is not...