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voluntarily supplied public goods; specifically, we show that not only an income inequality-raising redistribution policy but also … allowed, an inequality-raising redistribution policy is no longer effective and leaves social welfare unchanged …
Persistent link: https://www.econbiz.de/10012965708
According to the literature, well known tariff reform rules that are guaranteed to increase welfare will not necessarily increase market access, while rules that are guaranteed to increase market access will not necessarily increase welfare. Such conflict between welfare and market access...
Persistent link: https://www.econbiz.de/10013030243
Over the last decades, research in behavioural economics has demonstrated that individual welfare (utility), as relevant for economic decision making, depends not only on absolut but also on distributional aspects. Moreover, evidence is gathering that something similar holds for aggregate...
Persistent link: https://www.econbiz.de/10012916152
Paternalism is an attempt to influence individuals' decisions for their own benefit, even if there are no third parties involved. This seems to contradict normative individualism, which provides the general orientation to our modern democracies. Soft or libertarian paternalism accepts the...
Persistent link: https://www.econbiz.de/10013055992
We consider an overlapping generations (OLG) economy with land as a fixed factor of production and an environmental externality on production in which tax revenue from land rent and/or from other schemes such as labor income, capital income, and production taxation can be used for environmental...
Persistent link: https://www.econbiz.de/10012920116
In this paper, we analyze the consequences of delays and cost overruns typically associated with the provision of public infrastructure in the context of a growing economy. Our results indicate that uncertainty about the arrival of public capital can more than offset its positive spillovers for...
Persistent link: https://www.econbiz.de/10012934762
Consider legal uncertainty as uncertainty about the legality of a specific action. In particular, suppose that the threshold of legality is uncertain. I show that this legal uncertainty raises welfare. Legal uncertainty changes deterrence in opposite directions. The probability of conviction...
Persistent link: https://www.econbiz.de/10012977556
The well known Pareto criterion used in the context of efficiency and welfare has to do with absolute changes whereas in every domain of economic behaviour inequality or relative changes has become a major concern. We propose an inequality-preserving or distribution neutral Pareto criterion-the...
Persistent link: https://www.econbiz.de/10012958456
In this paper, we analyze the consequences of delays and cost overruns typically associated with the provision of public infrastructure in the context of a growing economy. Our results indicate that uncertainty about the arrival of public capital can more than offset its positive spillovers for...
Persistent link: https://www.econbiz.de/10012961081
Applying a willingness to pay approach known from contingent valuation in environmental economics, we first develop an ordinally based specific measure for the size of individual sacrifice that is connected with an agent's contribution to a public good. We then construct a selection mechanism...
Persistent link: https://www.econbiz.de/10013317035