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This paper compares two methods to encourage socially optimal provision of a public good. We compare the efficacy of vigilante justice, as represented by peer-to-peer punishment, to delegated policing, as represented by the "hired gun" mechanism, to deter free riding and improve group welfare....
Persistent link: https://www.econbiz.de/10013125564
Research has repeatedly shown that altruism is lower in diverse communities. Can this phenomenon be counteracted by … of altruism, are in this instance the most amenable to government intervention …
Persistent link: https://www.econbiz.de/10012776153
The extant experimental design to investigate warm glow and altruism elicits a single measure of crowd-out. Not … recognizing that impure altruism predicts crowd-out is a function of giving-by-others, this design's power to reject pure altruism … varies with the level of giving-by-others, and it cannot identify the strength of warm glow and altruism preferences. These …
Persistent link: https://www.econbiz.de/10013046180
private or government hospitals. Extending our model to include patient heterogeneity and impure altruism (rivalry) provides a …
Persistent link: https://www.econbiz.de/10014075329
concern for other people's welfare (altruism) in the process of making high profits. Even with few truly altruistic firms, an … firms are more likely to anger consumers. Regulation can increase welfare, for example, through fines (even if there are no … changes in prices). We illustrate these gains in a monopoly setting, where regulation affects welfare through 3 channels (i) a …
Persistent link: https://www.econbiz.de/10013151652
. Regulation, tax, and Coasean exchange, such as through cap-and-trade regimes, are presented as substitutes, based on the relative … for the costs of political bargaining and lobbying that arise from implementing and administering government regulation …
Persistent link: https://www.econbiz.de/10013000533
expropriated taxes - can increase the profits of all agents active within a common-pool resource. This somewhat counterintuitive …
Persistent link: https://www.econbiz.de/10013152439
We offer an alternative framework for the analysis of mutual funds and use it to examine the rationale behind existing regulations that require mutual fund advisor fees to be of the fulcrum' variety. We find little justification for the regulations. Indeed, we find that asymmetric incentive...
Persistent link: https://www.econbiz.de/10012763594
This paper uses the old-Keynesian representative agent model developed in Farmer (2010b) to answer two questions: 1) do increased government purchases crowd out private consumption? 2) do increased government purchases reduce unemployment? Farmer compared permanent tax financed expenditure paths...
Persistent link: https://www.econbiz.de/10013134828
? If they do, is it because the grants crowd out donors who feel they gave through taxes (classic crowd out), or is it …
Persistent link: https://www.econbiz.de/10013138085