economic theory to address this issue. We find that the relation between the appropriate compensation and the mean and median …

means and volatilities of partners' incomes are also derived from the theory and tested …

Should we exempt the services of insurance companies from VAT? Addressing this issue, the paper distinguishes between … insurance against a general loss of resources and a loss of a specific commodity (property insurance). There is a case for … exempting the former kind of insurance, but not the latter. Finally, comparing insurance through a producer warranty with …

provide a novel decomposition of labor income tax formulas into a redistribution and an insurance component. The latter is … capital tax is non-zero and trades off redistribution and insurance against savings distortions. Our quantitative results … reveal that the insurance component contributes significantly to optimal labor tax rates and provides an informative lower …

This paper characterizes the optimal information structure in competitive insurance markets with adverse selection. A … regulator assigns ratings to individuals according to their risk characteristics, insurers offer fixed insurance contracts to … system. We examine implications for government regulations of insurance markets …

consumers' inability to immediately adjust demand. Two puzzles that a standard exhaustible-resource theory cannot explain are …