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Optimal Income Taxation and Public Goods Provision in a Large Economy with Aggregate Uncertainty
Bierbrauer, Felix J. - 2009
priori unknown. The analysis is based on a mechanism design approach that imposes a requirement of robustness with respect to …
Persistent link: https://www.econbiz.de/10013158141
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Public-good provision with macro uncertainty about preferences : efficiency, budget balance, and robustness
Hellwig, Martin - 2021
mechanism of d'Aspremont and Gérard-Varet is shown to implement an effi cient provision rule with budget balance. However, first … mechanism is independent of the stochastic specification within the class of specifications defined by the structure of the …-Groves mechanism converges to zero in probability when the number of participants becomes large. In the limit, with a continuum of …
Persistent link: https://www.econbiz.de/10012657865
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Public-Good Provision with Macro Uncertainty about Preferences : Efficiency, Budget Balance, and Robustness
Hellwig, Martin F. - 2021
mechanism of d’Aspremont and Gérard-Varet is shown to implement an efficient provision rule with budget balance. However, first … mechanism is independent of the stochastic specification within the class of specifications defined by the structure of the …-Groves mechanism converges to zero in probability when the number of participants becomes large. In the limit, with a continuum of …
Persistent link: https://www.econbiz.de/10013322513
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Strategy-Proof and Individually Rational Social Choice Functions for Public Good Economies : A Note
Deb, Rajat; Ohseto, Shinji - 2000
Serizawa [3] characterized the set of strategy-proof, individually rational, no exploitative, and non-bossy social choice functions in economies with pure public goods. He left an open question whether non-bossiness is necessary for his characterization. We will prove that non-bossiness is...
Persistent link: https://www.econbiz.de/10014179633
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Efficiency, welfare, and political competition
Bierbrauer, Felix; Boyer, Pierre C. - 2014
We study political competition in an environment in which voters have private information about their preferences. Our framework covers models of income taxation, public-goods provision or publicly provided private goods. Politicians are vote-share-maximizers. They can propose any policy that is...
Persistent link: https://www.econbiz.de/10010358277
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Separation of Powers, Political Competition and Efficient Provision of Public Goods
Boukouras, Aristotelis; Koufopoulos, Kostas - 2010
In this paper we provide a political game where agents decide whether to become legislators or politicians. Legislators determine the political institutions constraining politicians' behavior and politicians compete for gaining the power to make decisions about the level of the public good. We...
Persistent link: https://www.econbiz.de/10014208460
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Regulatory risk under optimal incentive regulation
Strausz, Roland - 2009
The paper provides a tractable, analytical framework to study regulatory risk under optimal incentive regulation. Regulatory risk is captured by uncertainty about the policy variables in the regulator's objective function: weights attached to profits and costs of public funds. Results are as...
Persistent link: https://www.econbiz.de/10003796198
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Regulatory risk under optimal incentive regulation
Strausz, Roland - 2009
The paper provides a tractable, analytical framework to study regulatory risk. Regulatory risk is captured by uncertainty about the policy variables in the regulator's objective function: weights attached to profits and costs of public funds. Results are as follows: 1) The regulator's reaction...
Persistent link: https://www.econbiz.de/10003850166
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Optimal Risk Regulation of Monopolists with Subjective Risk Assessment
Kishishita, Daiki - 2020
This study aims at characterizing the optimal regulation of risky activities when risk assessment is subjective as a result of ambiguity on the probability of an accident. The attitudes toward ambiguity held by stakeholders form subjective risk perceptions, which substantially affect the optimal...
Persistent link: https://www.econbiz.de/10012837984
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Regulatory Risk, Vertical Integration, and Upstream Investment
Fiocco, Raffaele - 2020
We investigate the impact of regulatory risk on vertical integration and upstream investment by a regulated firm that provides an essential input to downstream competitors. Regulatory risk reflects uncertainty about the regulator's commitment to a regulatory policy that promotes the regulated...
Persistent link: https://www.econbiz.de/10012844812