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The strategic use of abatement by a polluting monopoly

Martín Herrán, Guiomar; Rubio, Santiago J. - 2016

This paper evaluates the effects of the lack of regulatory commitment on emission tax applied by the regulator … find that the lack of commitment leads to lower taxation and abatement that yield larger emissions and, consequently, a … social welfare. Thus, our analysis indicates that the lack of commitment has a negative impact of welfare although this …

Persistent link: https://www.econbiz.de/10011547525

Bank leverage, welfare, and regulation

Admati, Anat R.; Hellwig, Martin - 2018 - Revised November 19, 2018

Persistent link: https://www.econbiz.de/10011942146

Auction design without commitment

Vartiainen, Hannu - 2003

We study auction design when parties cannot commit themselves to the mechanism. The seller may change the rules of the game and the buyers choose their outside option at all stages. We assume that the seller has a leading role in equilibrium selection at any stage of the game. Stationary...

Persistent link: https://www.econbiz.de/10011591004

Saving rate dynamics in the neoclassical growth model : hyperbolic discounting and observational equivalence

Farzin, Hossein; Wendner, Ronald - 2013

The standard neoclassical growth model with Cobb-Douglas production predicts a monotonically declining saving rate, when reasonably calibrated. Ample empirical evidence, however, shows that the transition path of a country's saving rate exhibits a rising or non-monotonic pattern. In important...

Persistent link: https://www.econbiz.de/10009756310