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Peak-Hour Road Congestion Pricing : Experimental Evidence and Equilibrium Implications
Kreindler, Gabriel E. - National Bureau of Economic Research - 2023
Developing country megacities suffer from severe road traffic congestion, yet the level of congestion is not a direct measure of equilibrium inefficiency. I study the peak-hour traffic congestion equilibrium in Bangalore. To measure travel preferences, I use a model of departure time choice to...
Persistent link: https://www.econbiz.de/10013537795
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Voting on Public Goods : Citizens vs. Shareholders
Döttling, Robin; Levit, Doron Y.; Malenko, Nadya; … - National Bureau of Economic Research - 2024
We study the interplay between a "one person-one vote" political system and a "one share-one vote" corporate governance regime. The political system sets Pigouvian subsidies, while corporate governance determines firm-specific public good investments. Our analysis highlights a two-way feedback...
Persistent link: https://www.econbiz.de/10014576634
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Beyond Pigou : Externalities and Civil Society in the Supply-Demand Framework
Mulligan, Casey B. - National Bureau of Economic Research - 2023
The extent of voluntary cooperation in the presence of externalities is shown as an equilibrium outcome in the supply … character of the costs resulting from externalities. The paper discusses applications including forest management, volume …
Persistent link: https://www.econbiz.de/10014248013
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On the Efficiency of Competitive Equilibria with Pandemics
Chari, Varadarajan V.; Kirpalani, Rishabh; Pérez, Luis - National Bureau of Economic Research - 2023
commit to contracts, virus externalities are local, and competitive equilibria are efficient. The Second Welfare Theorem also … their infection status. If society cannot control virus exposure, then virus externalities are global and competitive … externalities and result in inefficiently high economic activity. If agents cannot commit, competitive equilibria are inefficient …
Persistent link: https://www.econbiz.de/10014250134
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Bankruptcy Exemption of Repo Markets : Too Much Today for Too Little Tomorrow?
Acharya, Viral V.; Anshuman, V. Ravi; Viswanathan, S. - National Bureau of Economic Research - 2024
We examine the desirability of granting "safe harbor" provisions to creditors of financial intermediaries in sale-and-repurchase (repo) contracts. Exemption from an automatic stay in bankruptcy enables financial intermediaries to raise greater liquidity and induces entry of intermediaries with...
Persistent link: https://www.econbiz.de/10014468227
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When Product Markets Become Collective Traps : The Case of Social Media
Bursztyn, Leonardo; Handel, Benjamin R.; Jiménez … - National Bureau of Economic Research - 2023
Individuals might experience negative utility from not consuming a popular product. For example, being inactive on social media can lead to social exclusion or not owning luxury brands can be associated with having a low social status. We show that, in the presence of such spillovers to...
Persistent link: https://www.econbiz.de/10014421196
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Firm Commitments
Bolton, Patrick; Kacperczyk, Marcin - National Bureau of Economic Research - 2023
A growing fraction of companies globally have made commitments to reduce their carbon emissions by a certain date. While the companies that make commitments subsequently reduce their emissions, the effect on overall emissions of companies (including those that do not commit) has been small; the...
Persistent link: https://www.econbiz.de/10014287345
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Health Care, Technological Change, and Altruistic Consumption Externalities
Philipson, Tomas - 2006
Traditional economic analysis has proposed well known remedies to deal with consumption externalities and inefficient … of R&D and consumption externalities is central to health care industries around the world generally, and for the … problems in isolation are inefficient -- Pigouvian corrections to consumption externalities are inefficient under technological …
Persistent link: https://www.econbiz.de/10012466741
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Incentives to Vaccinate
Campos-Mercade, Pol - 2024
Whether monetary incentives to change behavior work and how they should be structured are fundamental economic questions. We overcome typical data limitations in a large-scale field experiment on vaccination (N = 5,324) with a unique combination of administrative and survey data. We find that...
Persistent link: https://www.econbiz.de/10015072841
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Alleviating Worker Shortages Through Targeted Subsidies : Evidence from Incentive Payments in Healthcare
Gandhi, Ashvin; Olenski, Andrew; Ruffini, Krista J.; … - National Bureau of Economic Research - 2024
Worker shortages are common in many industries. This paper examines the effect of government subsidies to address these shortages in the context of a reform that tied Medicaid payments to nursing home staffing levels. We find that the reform substantially increased staffing, especially for...
Persistent link: https://www.econbiz.de/10014544691