Showing 81 - 90 of 189
We set up a two-stage game with sequential moves by one altruistic agent andn selfish agents. The rotten kid theorem states that the altruist can only reach her firstbest when the selfish agents move before the altruist. The Samaritan’s dilemma, on theother hand, states that the altruist can...
Persistent link: https://www.econbiz.de/10005868926
We study environmental policy for a polluting firmthat can invest in extracapacity. The optimal levels of allowed output as well as the tax rate are increasingin investment. With divisible investment, commitment always leads to the first best,under direct regulation and taxation. Time-consistent...
Persistent link: https://www.econbiz.de/10005868929
This paper investigates the role of trade credit in the transmissionof monetary policy. Most models of the transmission mechanism allowthe firm to access only financial markets or bank lending according tosome net worth criterion. In our model we introduce trade creditas an additional source of...
Persistent link: https://www.econbiz.de/10005868931
This paper considers the extent to which expenditure by contestants inimperfectly discriminating rent-seeking contests dissipates all or only partof the rent. In particular, we investigate strategic effects, technologicaleffects and asymmetry under an assumption of diminishing returns to...
Persistent link: https://www.econbiz.de/10005868938
This paper extends behavioural microsimulation modelling so that third round effectsof a policy change can be simulated. The first round effects relate to fixed hoursof work, while second round effects allow for changes in desired hours of work atunchanged wages. These allow for endogenous...
Persistent link: https://www.econbiz.de/10005868949
Noncooperative games in which each player’s payo¤ function depends on anadditively separable function of every player’s choice variable may be transformedinto an aggregative game, which may be analysed using the conceptof ‘share functions’. The resulting approach avoids the...
Persistent link: https://www.econbiz.de/10005868958
…nite marginal products are permitted.Our analysis relies heavily on the use of ‘share functions’ and wediscuss their theory and …
Persistent link: https://www.econbiz.de/10005868959
We develop a simple labour turnover model of general training. Upon completion of theirtraining, apprentices are equipped with general skills and they accumulate firm-specificskills by continuing working for their training firm. Job turnover is associated with a loss ofaccumulated firm-specific...
Persistent link: https://www.econbiz.de/10005869053
Using parametric formulae under lognormality for a broad family of povertymeasures, we show that when inequality measured by the Gini coeffcient isconstant, dening the poverty line as a fraction of a central tendency of theliving standard distribution restricts the evolution of the poverty...
Persistent link: https://www.econbiz.de/10005869058
We consider the possibility of estimating a Dickey-Fuller regression, constraining the autoregressive parameter to be at most one, and imposing prior knowledge of the sign of the drift parameter. ...
Persistent link: https://www.econbiz.de/10005869059