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political power. The ruling coalition consists of a subset of the individuals in the society and decides the distribution of …-transferable utility cooperative game. In all cases, the nature of the ruling coalition is determined by the power constraint, which …
Persistent link: https://www.econbiz.de/10012465911
We develop an equilibrium model of ticket resale in which buyers' decisions in the primary market, including costly efforts to "arrive early" to buy underpriced tickets, are based on rational expectations of resale market outcomes. We estimate the parameters of the model using a novel dataset...
Persistent link: https://www.econbiz.de/10012463173
This paper introduces a new internationally comparable data set that permits an empirical investigation of the effects of patent law on innovation. The data have been constructed from the catalogues of two 19th century world fairs: the Crystal Palace Exhibition in London, 1851, and the...
Persistent link: https://www.econbiz.de/10012468788
) municipal festival dates vary across the calendar and were determined in the early history of towns after Spanish conquest, and …
Persistent link: https://www.econbiz.de/10012533370
We develop a model of hierarchies based on the allocation of authority. A firm's owners have ultimate authority over a firm's decisions, but they have limited time or capacity to exercise this authority. Hence owners must delegate authority to subordinates. However, these subordinates also have...
Persistent link: https://www.econbiz.de/10012471397
The US trade war against China in 2018-2019 can either enhance or diminish the US soft power in China, depending on … the US soft power--is affected by the trade war, utilizing variations across Chinese cities in the exposure to the Trump …
Persistent link: https://www.econbiz.de/10013191093
differences in the power structure of society: (1) the Ruler enjoyed weaker absolute power in Europe; (2) the People were more on … par with the Elites in China in terms of power and rights. Based on these narratives, we build a game-theoretical model … and analyze how the power structure can shape the stability of an autocratic rule. If we read greater absolute power of …
Persistent link: https://www.econbiz.de/10012482621
This paper employs a new empirical approach for identifying the impact of government spending on the private sector. Our key innovation is to use changes in congressional committee chairmanship as a source of exogenous variation in state-level federal expenditures. In doing so, we show that...
Persistent link: https://www.econbiz.de/10012462813
political power decides the allocation of resources. We show that Pareto efficient allocations take a quasi-Markovian structure … and can be represented recursively as a function of the identity of the group in power and updated Pareto weights. For … disappear and labor supply and consumption levels fluctuate over time. The labor supply of groups that are not in power are …
Persistent link: https://www.econbiz.de/10012463249
We report on an on-going project, which asks a number of questions relevant to the study of state capacity. What are the main economic and political determinants of the state's capacity to raise revenue and support private markets? How do risks of violent conflict affect the incentives to invest...
Persistent link: https://www.econbiz.de/10012463562