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The literature on voluntary provision of public goods includes recent theoretical work on the formation of voluntary coalitions to provide public goods. Theory is ambiguous on the equilibrium coalition size and contribution rates. We examine the emergence of coalitions, their size, and how...
Persistent link: https://www.econbiz.de/10012463106
function of the coefficient of relative risk aversion, the variance in the measure of environmental service associated with …
Persistent link: https://www.econbiz.de/10012455816
Below, I illustrate how a wide range of political economics forces influence nations' provisions of global public goods. The forces can make it difficult for international cooperation to succeed, but they can also be taken advantage of by carefully designed treaties, so that they are stronger...
Persistent link: https://www.econbiz.de/10015145113
Field experiments provide the clearest window into the true impact of many policies, allowing us to understand what works, what does not, and why. Yet, their widespread use has not been accompanied by a deep understanding of the political economy of their adoption in policy circles. This study...
Persistent link: https://www.econbiz.de/10015171642
We revisit the classic problem of tax competition in the context of federal nations, and derive a positive theory of partial decentralization. A capital poor median voter wants to use capital taxes to provide public goods. This results in redistributive public good provision. As a consequence,...
Persistent link: https://www.econbiz.de/10011986893
This paper has two goals. First, we discuss several emerging approaches to applied welfare analysis under non-standard ("behavioral") assumptions concerning consumer choice. This provides a foundation for Behavioral Public Economics. Second, we illustrate applications of these approaches by...
Persistent link: https://www.econbiz.de/10012467161
We analyze the democratic politics of a rule that separates capital and ordinary account budgets and allows the government to issue debt to finance capital items only. Many national governments followed this rule in the 18th and 19th centuries and most U.S. states do today. This simple 1800s...
Persistent link: https://www.econbiz.de/10012467657
in the optimal tontine are identical to those of risk-neutral agents in an equivalently valued single prize lottery, (iii …) contribution levels for the optimal tontine are independent of risk-aversion, and thereby outperform lotteries when agents are risk …
Persistent link: https://www.econbiz.de/10012467729
The Roosevelt Corollary to the Monroe Doctrine marked a turning point in American foreign policy. In 1904, President Roosevelt announced that, not only were European powers not welcome in the Americas, but that the U.S. had the right to intervene in the affairs of Central American and Caribbean...
Persistent link: https://www.econbiz.de/10012467961
Should the assessment of government policies, such as the provision of public goods and the control of externalities, deviate from first-best principles to account for distributive effects and for the distortionary cost of labor income taxation? For example, is the optimal extent of public goods...
Persistent link: https://www.econbiz.de/10012468203