Can direct democracy provisions improve welfare over pure representative democracy? This paper studies how such provisions affect politicians' incentives and selection. While direct democracy allows citizens to correct politicians' mistakes, it also reduces the incentives of elected...

Auditing institutions, such as the German Federal Court of Audit (BRH), provide information on public revenue and public spending. The question of how to increase tax compliance has been of frequent interest. Unfortunately, information from German taxpayers? declaration behaviour (beyond the...

Despite improvements in the living conditions of the population, there has not been a significant change in income disparities. Since the growth of left-wing parties and political competition as per the median voter hypothesis do not stand in the Brazilian case, what could explain the tenacity...

Due to their many applications, large Bayesian games have been a subject of growing interest in game theory and related fields. But to a large extent, models (1) have been restricted to one-shot interaction, (2) are based on an assumption that player types are independent and (3) assume that the...

We study how rework routing together with wage and piece rate compensation can strengthen incentives for quality. Traditionally, rework is assigned back to the agent who generates the defect (in a self routing scheme) or to another agent dedicated to rework (in a dedicated routing scheme). In...

In John Nash’s proofs for the existence of (Nash) equilibria basedon Brouwer’s theorem, an iteration mapping is used. A continuous—time analogue of the same mapping has been studied even earlier byBrown and von Neumann. This differential equation has recently beensuggested as a plausible...

This study examines the dynamics and determinants of inflation in the Ottoman Empire during the 1586-1913 period. There might be two main reasons for inflation: fiscal expansion and monetary expansion where the monetary expansion could be generated through the debasement of local currency...

This paper establishes the existence of relaxed solutions to mean eld games (MFGs for short) with singular controls. As a by-product, we obtain an existence of relaxed solutions results for McKean-Vlasov stochastic singular control problems. Finally, we prove approximations of solutions results...

Empirical evidence suggests that managerial overconfidence and government guarantees contribute substantially to excessive risk-taking in the banking industry. This paper incorporates managerial overconfidence and limited bank liability into a principal-agent model, where the bank manager...