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The Incentive Effect of Scores : Randomized Evidence from Credit Committees
Paravisini, Daniel - 2014
use existing information. Our results imply that credit scores improve the efficiency and decentralize decision-making in …
Persistent link: https://www.econbiz.de/10013063295
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Why Not a Political Coase Theorem? Social Conflict, Commitment and Politics
Acemoglu, Daron - 2021
Do societies choose inefficient policies and institutions, in contrast to what would be suggested by a reasoning extending the Coase Theorem to politics? Do societies choose inefficient policies and institutions because of differences in the beliefs and ideologies of their peoples or leaders? Or...
Persistent link: https://www.econbiz.de/10013216095
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Resolving Intertemporal Conflicts : Economics vs Politics
Millner, Antony - 2014
Intertemporal conflicts occur when a group of agents with heterogeneous time preferences must make a collective decision about how to manage a common asset. How should this be done? We examine two methods: an 'Economics' approach that seeks to implement efficient allocations, and a 'Politics'...
Persistent link: https://www.econbiz.de/10013043608
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Deadlock on the Board
Donaldson, Jason Roderick - 2019
We develop a dynamic model of board decision-making. We show that a board could retain a policy all directors agree is worse than an available alternative. Thus, directors may retain a CEO they agree is bad—a deadlocked board leads to an entrenched CEO. We explore how to compose boards and...
Persistent link: https://www.econbiz.de/10012864484
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The Purpose of Trade Agreements
Grossman, Gene M. - 2016
This paper reviews the literature on governments' motivations for negotiating and joining international trade agreements. I discuss both normative explanations for trade agreements and explanations based on political-economy concerns. Most of the paper focuses on the purpose of multilateral...
Persistent link: https://www.econbiz.de/10012996887
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Chaos and Unpredictability in Dynamic Social Problems
Battaglini, Marco - 2022
We study a dynamic model of environmental protection in which the level of pollution is a state variable that strategically links policy making periods. Policymakers are forward looking but politically motivated: they have heterogeneous preferences and do not fully internalize the cost of...
Persistent link: https://www.econbiz.de/10014240423
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Tax and Education Policy in a Heterogeneous Agent Economy : What Levels of Redistribution Maximize Growth and Efficiency?
Bénabou, Roland - 2021
for missing credit and insurance markets. The resulting tradeoffs for growth and efficiency are explored, both … to higher income growth than taxes and transfers, but at the cost of lower insurance. Overall efficiency is assessed … welfare function, does not reward equality per se. Simulations using empirical parameter estimates show that the efficiency …
Persistent link: https://www.econbiz.de/10013221848
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Paternalism and Psychology
Glaeser, Edward L. - 2021
Does bounded rationality make paternalism more attractive? This Essay argues that errors will be larger when suppliers have stronger incentives or lower costs of persuasion and when consumers have weaker incentives to learn the truth. These comparative statics suggest that bounded rationality...
Persistent link: https://www.econbiz.de/10013239179
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Intervening on the Data to Improve the Performance of Health Plan Payment Methods
Bergquist, Savannah - 2018
the empirical context. Intervening on the data is an easy-to-use, intuitive approach for addressing economic efficiency …
Persistent link: https://www.econbiz.de/10012922211
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Tax Benefits to Housing and Inefficiencies in Location and Consumption
Albouy, David - 2014
Tax benefits to owner-occupied housing provide incentives for housing consumption, offsetting weaker disincentives of the property tax. These benefits also help counter the penalty federal taxes impose on households who work in productive high-wage areas, but reinforce incentives to consume...
Persistent link: https://www.econbiz.de/10013060685