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Riley (1979)'s reactive equilibrium concept addresses problems of equilibrium existence in competitive markets with adverse selection. The game-theoretic interpretation of the reactive equilibrium concept in Engers and Fernandez (1987) yields the Rothschild-Stiglitz (1976)/Riley (1979)...
Persistent link: https://www.econbiz.de/10010419870
stylized facts by setting up a simple two-country model of tax competition with heterogenous firms. In this model a unique … simultaneous expansion of both markets intensifies tax competition and causes both countries to reduce their tax rates, despite …
Persistent link: https://www.econbiz.de/10003951788
This paper investigates the effect of adverse selection on the private annuity market in a model with two periods of retirement and two types of individuals, who differ in their life expectancy. In order to introduce the existence of limited-time pension insurance, we consider a model where for...
Persistent link: https://www.econbiz.de/10009750235
This paper investigates the effect of adverse selection and price competition on the private annuity market in a model …
Persistent link: https://www.econbiz.de/10009750561
This paper investigates the effect of adverse selection on the private annuity market in a model with two periods of retirement. In order to introduce the existence of limited-time pension insurance, we assume that for each period of retirement separate contracts can be purchased. Demand for the...
Persistent link: https://www.econbiz.de/10011541030
This paper analyzes asymmetric tax competition under formula apportionment. It sets up a model with multinationals … taxation ; formula apportionment ; asymmetric tax competition …
Persistent link: https://www.econbiz.de/10003906581
stylized facts by setting up a simple two-country model of tax competition with heterogeneous firms. In this model a unique … simultaneous expansion of both markets intensifies tax competition and causes both countries to reduce their tax rates, despite … higher corporate tax bases. -- tax competition ; heterogeneous firms ; imperfect competition …
Persistent link: https://www.econbiz.de/10003922628
competition. To that end, we model tax and infrastructure competition within a differential game framework between two unequally … institutional capacity in the provision of public goods. The model shows that the long-term outcome of international competition …. -- Tax/Infrastructure competition ; Open-loop/Markovian strategies ; Differential games …
Persistent link: https://www.econbiz.de/10009500771
Persistent link: https://www.econbiz.de/10003395888