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Markets Versus Governments : Political Economy of Mechanisms

Acemoglu, Daron - 2006

We study the optimal Mirrlees taxation problem in a dynamic economy with idiosyncratic (productivity or preference) shocks. In contrast to the standard approach, which implicitly assumes that the mechanism is operated by a benevolent planner with full commitment power, we assume that any...

Persistent link: https://www.econbiz.de/10012466444

Incentives in Markets, Firms and Governments

Acemoglu, Daron - 2003

healthcare. We argue that markets are most advantageous in areas where high-powered incentives are desirable, but in areas where … high-powered incentives stimulate unproductive signalling effort, firms, or even government, may have a comparative … advantage. Firms may be able to weaken incentives and improve efficiency by obscuring information about individual workers …

Persistent link: https://www.econbiz.de/10012468896

Network Security and Contagion

Acemoglu, Daron - 2013

We develop a theoretical model of security investments in a network of interconnected agents. Network connections introduce the possibility of cascading failures due to an exogenous or endogenous attack depending on the profile of security investments by the agents. The general presumption in...

Persistent link: https://www.econbiz.de/10012459488