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Anti-evasion auditing policy in the presence of common income shocks
Sanchez-Villalba, Miguel - London School of Economics (LSE) - 2006
When fairly homogeneous taxpayers are affected by common income shocks, a tax agency’s optimal auditing strategy consists of auditing a low-income declarer with a probability that (weakly) increases with the other taxpayers’ declarations. Such policy generates a coordination game among...
Persistent link: https://www.econbiz.de/10010928739
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Peering into the mist: social learning over an opaque observation network
Barrdear, John - London School of Economics (LSE) - 2014
I present a model of social learning over an exogenous, directed network that may be readily nested within broader macroeconomic models with dispersed information and combines the attributes that agents (a) act repeatedly and simultaneously; (b) are Bayes-rational; and (c) have strategic...
Persistent link: https://www.econbiz.de/10011126293
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The more we know, the less we agree: public announcements and higher-order expectations
Kondor, Peter - London School of Economics (LSE) - 2004
The stylized fact that public announcements in financial markets are followed by intense trading, high trading volume and volatile prices, is widely perceived as the sign of increasing disagreement due to the announcement. However, it is common to argue that this would be inconsistent with...
Persistent link: https://www.econbiz.de/10011071459
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Do we follow others when we should? A simple test of rational expectations
Weizsacker, Georg - London School of Economics (LSE) - 2008
The paper presents a new meta data set covering 13 experiments on the social learning games by Bikhchandani, Hirshleifer, and Welch (1992). The large amount of data makes it possible to estimate the empirically optimal action for a large variety of decision situations and ask about the economic...
Persistent link: https://www.econbiz.de/10011071475
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Unmet aspirations as an explanation for the age u-shape in human wellbeing
Schwandt, Hannes - London School of Economics (LSE) - 2013
A large literature in behavioral and social sciences has found that human wellbeing follows a U-shape over age. Some theories have assumed that the U-shape is caused by unmet expectations that are felt painfully in midlife but beneficially abandoned and experienced with less regret during old...
Persistent link: https://www.econbiz.de/10010746117
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Measuring income risk
Burgess, Simon; Gardiner, Karen; Jenkins, Stephen P.; … - London School of Economics (LSE) - 2000
We provide a critique of the methods that have been used to derive measures of income risk and draw attention to the importance of demographic factors as a source of income risk. We also propose new measures of the contribution to total income risk of demographic and labour market factors....
Persistent link: https://www.econbiz.de/10011126475
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Does pharmaceutical price regulation affect the adoption of generic competition?: evidence from the OECD, 1999-2008
Costa-i-Font, Joan; Varol, Nebibe; McGuire, Alistair - London School of Economics (LSE) - 2011
adoption of generic competition. This paper aims to investigate how price regulations in the OECD affect the adoption of … heterogeneity. Ex-ante profit expectations result in faster adoption; both expected price and market size increase the probability … adoption across different specifications. Instead, evidence indicates that generic competitors follow a locally oriented …
Persistent link: https://www.econbiz.de/10010745148
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Heterogeneous mark-ups, growth and endogenous misallocation
Peters, Michael - London School of Economics (LSE) - 2013
The recent work on misallocation argues that aggregate productivity in poor countries is low because various market frictions prevent marginal products from being equalized. By focusing on such allocative inefficiencies, misallocation is construed as a purely static phenomenon. This paper argues...
Persistent link: https://www.econbiz.de/10010884565
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Technology, information and the decentralization of the firm
Acemoglu, Daron; Aghion, Philippe; Lelarge, Claire; Van … - London School of Economics (LSE) - 2006
This paper develops a framework to analyze the relationship between the diffusion of new technologies and the decentralization decisions of firms. Centralized control relies on the information of the principal, which we equate with publicly available information. Decentralized control, on the...
Persistent link: https://www.econbiz.de/10010884642
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The weightless economy in economic development
Quah, Danny - London School of Economics (LSE) - 1999
Can the increasing significance of knowledge-products in national income - the growing weightless economy - influence economic development? Those technologies reduce ''distance'' between consumers and knowledge production. This paper analyzes a model embodying such a reduction. The model shows...
Persistent link: https://www.econbiz.de/10010884693