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Persistent link: https://www.econbiz.de/10009788570
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This paper establishes that, far from being able to derive the principle of horizontal equity from utilitarianism, the … principle is actually in- consistent with utilitarianism in a variety of circumstances. We derive conditions under which (a) it … imposed on a set of otherwise identical individuals (ex ante randomization). The implications for optimal tax theory are …
Persistent link: https://www.econbiz.de/10012478424
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We analyze the individual and macroeconomic impacts of heterogeneous expectations and action rules within an agent-based model populated by heterogeneous, interacting firms. Agents have to cope with a complex evolving economy characterized by deep uncertainty resulting from technical change,...
Persistent link: https://www.econbiz.de/10011763035
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A two-period model of temporary equilibrium with rationing is presented, paying particular attention to agents' expectations of future constraints. it is shown that with arbitrary constraint expectations many different types of current equilibria may be consistent with the same set of (current...
Persistent link: https://www.econbiz.de/10012478772
We analyze the individual and macroeconomic impacts of heterogeneous expectations and action rules within an agent-based model populated by heterogeneous, interacting firms. Agents have to cope with a complex evolving economy characterized by deep uncertainty resulting from technical change,...
Persistent link: https://www.econbiz.de/10012481880
We analyze the individual and macroeconomic impacts of heterogeneous expectations and action rules within an agent-based model populated by heterogeneous, interacting firms. Agents have to cope with a complex evolving economy characterized by deep uncertainty resulting from technical change,...
Persistent link: https://www.econbiz.de/10012931712
A two-period model of temporary equilibrium with rationing is presented, paying particular attention to agents' expectations of future constraints. it is shown that with arbitrary constraint expectations many different types of current equilibria may be consistent with the same set of (current...
Persistent link: https://www.econbiz.de/10013219731