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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

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

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

Optimal Income Taxation

Kaplow, Louis - National Bureau of Economic Research - 2022

; asymmetric information and the income of founders; production and consumption externalities from labor effort; market power and …

Persistent link: https://www.econbiz.de/10013334417

Is Broader Always Better? Preexisting Distortions, Emissions Elasticities, and the Scope of Emissions Pricing

Goulder, Lawrence H. - 2024

might lament any departure from broad carbon pricing, citing efficiency costs. This paper offers theory and numerical …

Persistent link: https://www.econbiz.de/10015072857

Naked Exclusion : An Experimental Study of Contracts with Externalities

Landeo, Claudia M. - 2008

This paper reports the results of an experiment designed to assess the ability of an incumbent seller to profitably foreclose a market with exclusive contracts. We use the strategic environment described by Rasmusen, Ramseyer, and Wiley (1991) and Segal and Whinston (2000) where entry is...

Persistent link: https://www.econbiz.de/10012464530

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

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

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

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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