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Pooling of costs and revenues is commonly practiced by public utilities, and by other firms exercising a degree of market power. In this paper, a variety of explanations of pooling are considered. A new explanation based on the concept of common property, is advanced. The costs of pooling are...
Persistent link: https://www.econbiz.de/10010908302
People are part of a complex natural system and have the ability to actively interfere with their environment. Collective decisions made by governments represent social rules that limit the extent of people's interference with the environment that support them. Environmental decisions made by...
Persistent link: https://www.econbiz.de/10008853492
We formulate a dynamic framework for an individual decision-maker within which discovery of previously unconsidered propositions is possible. Using a standard game-theoretic representation of the state space as a tree structure generated by the actions of agents (including acts of nature), we...
Persistent link: https://www.econbiz.de/10010879325
In this chapter, we compare the experience of Australia and New Zealand over the period of microeconomic reform that began in the early 1980s. Of particular concern is the question of how New Zealand, with what were seen at the time as the ‘best’ set of economic policies in the OECD,...
Persistent link: https://www.econbiz.de/10010879334
The paper begins with a schematic survey of the historical background, which provides the context for the changes embodied in WorkChoices, briefly described in Section 2. The core of the paper, Section 3, examines the role of choice and constraint in the design of the reforms. This analysis is...
Persistent link: https://www.econbiz.de/10010879343
We explore the relationship between the choice of the strategy space and outcomes in Tullock contests. In particular, in a framework where one of the contest's participants moves first, we show that there is an equilibrium where this individual wins the contest with probability one. We also show...
Persistent link: https://www.econbiz.de/10010879355
We provide a very different way to think about how consensus may arise. We deliberately skimp on the micro-processes of persuasion usually emphasized in constructivist accounts, instead highlighting the structural aspects of the cross-national networks through which experts communicate with each...
Persistent link: https://www.econbiz.de/10010910943
The debate over theFree Trade Agreement with the United States has produced a book, How to Kill a Country, primarily concerned with intellectual property and related issues (Weiss, Thurbon and Matthews 2004). In arguing that Australia will be worse off, Weiss, Thurbon and Matthews examine four...
Persistent link: https://www.econbiz.de/10010910956
The worldwide scare over the 'Y2K bug result in the expenditure of hundreds of billions of dollars on Y2K compliance and conversion policies. Most of this can be seen, in retrospect, to have been unproductive or, at least, misdirected. In this paper, the technological and institutional factors...
Persistent link: https://www.econbiz.de/10010910961
The mining industry in Australia, and in most other countries, pay special taxes for the use of community owned resources in additional to taxes levied on businesses in general. General taxes include the corporate income tax, payroll and transaction taxes, and labour pay personal income taxes....
Persistent link: https://www.econbiz.de/10010910969