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Welfare Improving Contracts in Cournot Markets

Catilina, Eliane - EconWPA - 1998

level of welfare without changing either the strategic variable (output quantity) or the way prices are determined (by an … auctioneer). The problem is set as a two- stage game played by profit-maximizing firms and a welfare-maximizing government. Firms … an entire industry and achieve welfare improvements. This is possible as the decision-making asymmetry among privately …

Persistent link: https://www.econbiz.de/10005561774

Evidence for the Independence of Waged and Unwaged Income, Evidence for Boltzmann Distributions in Waged Income, and the Outlines of a Coherent Theory of Income Distribution

Willis, Geoff; Mimkes, Juergen - EconWPA - 2004

Two sets of high quality income data are analysed in detail, one set from the UK, one from the USA. It is firstly demonstrated that both a log-normal distribution and a Boltzmann distribution can give very accurate fits to both these data sets. The absence of a power tail in the US data set is...

Persistent link: https://www.econbiz.de/10005135094

Personal Income Tax Reform and Revenue Potential in Transition

Bogetic, Zeljko; Hassan, Fareed - EconWPA - 2005

The paper uses the 1992 household survey for Bulgaria to show poor revenue performance of the income tax structure prevailing in 1992, which did not take into account the underlying distribution of income. The paper shows that Bulgaria can benefit from a much lower and simpler income tax rate...

Persistent link: https://www.econbiz.de/10005560954

Productivity and Undesirable Outputs: A Directional Distance Function Approach

Chung, Yangho; Fare, Rolf - EconWPA - 1995

Undesirable outputs are often produced together with desirable outputs. This joint production of good and bad outputs brings about a difficulty for productivity measurement. Here we introduce a directional distance function and use it as a component in a new productivity index. This index, as an...

Persistent link: https://www.econbiz.de/10005077056

'Divergent Equilibrium in a Labor-Managed Economy: A Rejoinder,' (1991). Economic Analysis and Workers' Management, Vol. XXV, No. 2, pp.303-5.

Bogetic, Zeljko - EconWPA - 2005

Reply to professor Vanek's comment on Bogetic's paper in the same issue of the Economic Analysis and Workers' Management.

Persistent link: https://www.econbiz.de/10005077059

Coase Competition and Compensation

Varian, Hal - EconWPA - 1994

I show that the Pigovian solution to a simple externalities problem and a particular Coasian solution can be viewed as competitive equilibria from different initial endowments. I also describe the ``compensation mechanism,'' a mechanism that implements either the Coasian or Pigovian solution as...

Persistent link: https://www.econbiz.de/10005077060

Efficient Egalitarian Equivalent Allocations over a Single Good

LiCalzi, Marco; Nicolò, Antonio - EconWPA - 2005

This paper studies efficient and egalitarian allocations over a single heterogeneous and infinitely divisible good. We prove the existence of such allocations using only measure-theoretic arguments. Under the additional assumption of complete information, we identify a sufficient condition on...

Persistent link: https://www.econbiz.de/10005077064

Pareto's Law of Income Distribution: Evidence for Grermany, the United Kingdom, and the United States

Clementi, Fabio; Gallegati, Mauro - EconWPA - 2005

We analyze three sets of income data: the US Panel Study of Income Dynamics (PSID), the British Household Panel Survey (BHPS), and the German Socio-Economic Panel (GSOEP). It is shown that the empirical income distribution is consistent with a two-parameter lognormal function for the low-middle...

Persistent link: https://www.econbiz.de/10005077069

Household Semi-Public Goods and the Estimation of Consumer Equivalence Scales: Some First Steps

Bradbury, Bruce - EconWPA - 1995

-type household welfare function to develop a consumption model which is both general and amenable to the incorporation (and testing …

Persistent link: https://www.econbiz.de/10005077071

Power Law Tails in the Italian Personal Income Distribution

Clementi, Fabio; Gallegati, Mauro - EconWPA - 2005

We investigate the shape of the Italian personal income distribution using microdata from the Survey on Household Income and Wealth, made publicly available by the Bank of Italy for the years 1977-2002. We find that the upper tail of the distribution is consistent with a Pareto power-law type...

Persistent link: https://www.econbiz.de/10005077072

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