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We investigate whether late redistribution programs that can be targeted towards low income families, but may distort … savings decisions, can ldquo;dominaterdquo; early redistribution programs that cannot be targeted due to information ….S. economy (benchmark), two early redistribution (lump sum) regimes, two (targeted) late redistribution regimes, and finally a …
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The seminal work of Fudenberg and Tirole (1985) on how preemption erodes the value of an option to wait raises general questions about the relation between models in discrete and continuous time and thus about the interpretation of its central result, relying on an "infinitely fine grid". Here...
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