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Collective Action in an Asymmetric World

Chen, Cuicui - 2016

A central authority possessing tax and expenditure responsibilities can readily provide an efficient level of a public good. Absent a central authority, voluntary arrangements must replace coercive ones. Significant under-provision must be expected. International public goods are particularly...

Persistent link: https://www.econbiz.de/10012992148

Computing Markov Perfect Nash Equilibria : Numerical Implications of a Dynamic Differentiated Product Model

Pakes, Ariel; McGuire, Paul - 2021

This paper provides an algorithm for computing Markov Perfect Nash Equilibria (Maskin and Tirole, 1988a and b) for dynamic models that allow for heterogeneity among firms and idiosyncratic (or firm specific) sources of uncertainty. It has two purposes. To illustrate the ability of such models to...

Persistent link: https://www.econbiz.de/10013230623

Discretionary Policy and Multiple Equilibria

King, Robert G. - 2021

Discretionary policymaking can foster strategic complementarities between private sector decisions, thus leading to multiple equilibria. This article studies a simple example, originating with Kydland and Prescott, of a government which must decide whether to build a dam to prevent adverse...

Persistent link: https://www.econbiz.de/10013221106

Marriage Market Equilibrium

Pollak, Robert A. - 2016

market equilibrium is the Gale-Shapley matching model, not the Koopmans-Beckmann assignment model. These models have …

Persistent link: https://www.econbiz.de/10012989728

Unobserved Heterogeneity in Matching Games with an Application to Venture Capital

Fox, Jeremy T. - 2012

Agents in two-sided matching games vary in characteristics that are unobservable in typical data on matching markets …. In full generality, we consider many-to-many matching and matching with trades. The distribution of match …

Persistent link: https://www.econbiz.de/10013104978

Identification in Matching Games

Fox, Jeremy T. - 2010

I study a many-to-many, two-sided, transferable-utility matching game. Consider data on matches or relationships …

Persistent link: https://www.econbiz.de/10013152436

Analyzing the Determinants of the Matching Public School Teachers to Jobs : Estimating Compensating Differentials in Imperfect Labor Markets

Boyd, Donald; Lankford, Hamilton; Loeb, Susanna; … - 2021

approach is based on a game-theoretic two-sided matching model and the estimation strategy employs the method of simulated …

Persistent link: https://www.econbiz.de/10013221501

Estimating Matching Games with Transfers

Fox, Jeremy T. - 2021

I explore the estimation of transferable utility matching games, encompassing many-to-many matching, marriage and … matching with trading networks (trades). I introduce a matching maximum score estimator that does not suffer from a … computational curse of dimensionality in the number of agents in a matching market. I apply the estimator to data on the car parts …

Persistent link: https://www.econbiz.de/10013232762

Dynamic Financial Constraints : Distinguishing Mechanism Design from Exogenously Incomplete Regimes

Karaivanov, Alexander - 2013

We formulate and solve a range of dynamic models of constrained credit/insurance that allow for moral hazard and limited commitment. We compare them to full insurance and exogenously incomplete financial regimes (autarky, saving only, borrowing and lending in a single asset). We develop...

Persistent link: https://www.econbiz.de/10013073152

Why Can Modern Governments Tax so Much? An Agency Model of Firms as Fiscal Intermediaries

Kleven, Henrik - 2010

This paper presents a simple agency model to explain why third-party income reporting by employers dramatically improves income tax enforcement. Modern firms have a large number of employees and carry out complex production tasks, which requires the use of accurate business records. Because such...

Persistent link: https://www.econbiz.de/10013151348

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