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A Multiplicity of Approaches to Institutional Analysis. Applications to the Government and the Arts

Frey, Bruno S. - CESifo - 2009

Four types of “economics” relevant for institutional analysis are distinguished: Standard Neoclassical Economics; Socio-Economics or Social Economics; New Institutional Economics; and Psychological Economics (often misleadingly called Behavioural Economics). The paper argues that an...

Persistent link: https://www.econbiz.de/10005013048

Reputations, Relationships and the Enforcement of Incomplete Contracts

MacLeod, W. Bentley - CESifo - 2006

(1981)) and efficiency wages (Shapiro and Stiglitz (1984)), have been offered as solutions to the problem of enforcing an … incomplete contract. It is shown that the efficiency of these solutions is very sensitive to the characteristics of the good or … service exchanged. In general, neither the repeat purchase mechanism nor efficiency wages is the most efficient in the set of …

Persistent link: https://www.econbiz.de/10005766147

Policy Persistence and Rent Extraction

Friedrich, Silke - CESifo - 2013

The existing literature has shown that special interest groups can have both growth enhancing and retarding effects on an economy. In either case it is always assumed that the nature of the special interest groups remains constant over time. The hypothesis of this paper is that a dynamic...

Persistent link: https://www.econbiz.de/10010877655

Centralized Fiscal Spending by Supranational Unions

Simon, Jenny; Valasek, Justin Mattias - CESifo - 2013

decreasing efficiency, which becomes more severe as the centralized budget increases. We also analyze partial ex-ante commitment … through alternative decision-making institutions: Both majority rule and exogenous tax rules can improve efficiency. …

Persistent link: https://www.econbiz.de/10010877969

Battle for Climate and Scarcity Rents: Beyond the Linear-Quadratic Case

Kagan, Mark; Ploeg, Frederick Van der; Withagen, Cees A. - CESifo - 2014

The nature of oil demand influences the oil extraction rate and hence has implications for both the timing of oil exhaustion and optimal climate policy. We analyse what role oil demand specification plays in strategic interactions b between an oil-importing country producing final goods and...

Persistent link: https://www.econbiz.de/10011264740

Simultaneous Search and Network Efficiency

Gautier, Pieter A.; Holzner, Christian - CESifo - 2011

When workers send applications to vacancies they create a network. Frictions arise if workers do not know where other workers apply to (this affects network creation) and firms do not know which candidates other firms consider (this affects network clearing). We show that those frictions and the...

Persistent link: https://www.econbiz.de/10009221551

Are User Fees Really Regressive?

Economides, George; Philippopoulos, Apostolis - CESifo - 2012

by the Ramsey government not only increases aggregate efficiency, but it also decreases inequality. This result is in …

Persistent link: https://www.econbiz.de/10010556462

Household Formation and Markets

Gersbach, Hans; Haller, Hans; Konishi, Hideo - CESifo - 2013

We consider competitive markets for multiple commodities with endogenous formation of one- or two-person households. Within each two-person household, externalities from the partner’s commodity consumption and unpriced actions are allowed. Each individual has two types of traits: observable...

Persistent link: https://www.econbiz.de/10010698700

Market Failures and the Under-Provision of Training

Brunello, Giorgio; Paola, Maria De - CESifo - 2004

This paper reviews both the theoretical underpinnings and the empirical evidence in support of the under-provision of training. While there is little if any evidence in support of under-provision because of liquidity constraints to the demand side of the market, there is evidence that employers...

Persistent link: https://www.econbiz.de/10005094467

Efficiency and Equity of European Education and Training Policies

Woessmann, Ludger - CESifo - 2006

to advance both efficiency and equity. Returns to educational investments tend to decrease over the life cycle. Moreover … life cycle. This creates complementarities between efficiency and equity at early stages and trade-offs at late stages. The … paper goes on to discuss specific policies for efficiency and equity at each educational stage, ranging from early childhood …

Persistent link: https://www.econbiz.de/10005094505