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The idea of a flat tax, a tax levied at a single rate, has become an increasingly discussed and implemented fiscal strategy across Europe and the rest of the world. Estonia, Latvia, and Lithuania adopted flat tax systems in 1994 and 1995, making them the first modern countries to adopt flat...
Persistent link: https://www.econbiz.de/10009438702
Morocco and Tunisia have both achieved robust economic growth over the last 30 years by utilizing prudent economic planning and implementation. The World Bank heralds both countries as prime examples of how market-friendly capitalist systems can be implemented over a short period of time with...
Persistent link: https://www.econbiz.de/10009439124
The properties of automatic model selection are discussed, focusing on PcGets. We explain the background concepts and why automatic methods can perform well. Criticisms of model selection procedures are noted and rebutted. The algorithm is sketched, distinguishing between costs of search and...
Persistent link: https://www.econbiz.de/10009441474
Persistent link: https://www.econbiz.de/10009447401
This paper presents a personal view of the interaction between the analysis of choice under uncertainty and the analysis of production under uncertainty. Interest in the foundations of the theory of choice under uncertainty was stimulated by applications of expected utility theory such as the...
Persistent link: https://www.econbiz.de/10009447884
(Magill, M., Quinzii, M., 2002. Capital market equilibrium with moral hazard. Journal of Mathematical Economics 38, 149 …
Persistent link: https://www.econbiz.de/10009447956
I examine a situation where a firm chooses to locate a new factory in one of several jurisdictions. The value of the factory may differ among jurisdictions and it depends on the private information held by each jurisdiction. Jurisdictions compete for the location of the new factory. This...
Persistent link: https://www.econbiz.de/10009447959
In this paper we suggest a model of sequential auctions with endogenous participation where each bidder conjectures about the number of participants at each round. Then, after learning his value, each bidder decides whether or not to participate in the auction. In the calculation of his expected...
Persistent link: https://www.econbiz.de/10009447972
Leadership is a perennially popular topic in the academic and practitioner literature on management. In particular, the past twenty years have witnessed an explosive growth of interest in what has been termed 'transformational leadership' (henceforth, TL). The theory is closely linked to the...
Persistent link: https://www.econbiz.de/10009448006
The paper presents a spreadsheet-based multiple account framework for cost-benefit analysis which incorporates all the usual concerns of cost-benefit analysts such as shadow-pricing to account for market failure. distribution of net benefits. sensitivity and risk analysis, cost of public funds,...
Persistent link: https://www.econbiz.de/10009448053