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account of technological change, the accumulation of knowledge and externalities. At the same time they highlight the …
Persistent link: https://www.econbiz.de/10011111565
account of social benefits of education. Our short note extends his paper on the social returns to accumulation of human … capital, with particular emphasis on the social returns to education which are given by the sum of the private and external … marginal benefits of a unit of human capital. In other words, we study the problem of human capital externalities which comes …
Persistent link: https://www.econbiz.de/10011111594
account the social benefits of education. Our note extends his paper on the social returns to accumulation of human capital …, with particular emphasis on the social returns to education which are given by the sum of the private and external marginal … benefits of a unit of human capital. In other words, we study the problem of human capital externalities which comes from …
Persistent link: https://www.econbiz.de/10011113456
This paper examines the positions of Coase and Pigou in regard to the problem of external effects (externalities …
Persistent link: https://www.econbiz.de/10011260441
" outcome is broadly established and accepted, but elaborations to encompass games with externalities (represented by partition …
Persistent link: https://www.econbiz.de/10005790052
In this paper, we introduce interdependent preferences to a classical one-to-one matching problem that allows for the prospect of being single, and study the existence and properties of stable matchings. We obtain the relationship between the stable set, the core, and the Pareto set, and give a...
Persistent link: https://www.econbiz.de/10005836394
trade in ex ante asset backed securities) creates externalities, as spot prices (or security prices) and the bindingness of …
Persistent link: https://www.econbiz.de/10008552792
This paper studies the efficiency of competitive equilibria in environments with a moral hazard problem and unobserved states, both with retrading in ex post spot markets. The interaction between private information problems and the possibility of retrade creates an externality, unless...
Persistent link: https://www.econbiz.de/10008552807
Two individuals may choose to enter a coresidential relationship, which may or may not include joint property ownership and raising children. In addition to that, individuals may decide to formalize this contractual relationship by holding a marriage ceremony. The literature on coresidential...
Persistent link: https://www.econbiz.de/10008468155
Weitzman (1976) provides a foundation for net national product of a competitive economy as the annuity equivalent of the present discounted value of maximized consumption. This paper considers how Weitzman's rule should be modified if the competitive equilibrium is affected by the presence of...
Persistent link: https://www.econbiz.de/10005105915