This paper tests for ex ante and ex post labor supply responses to weather risk for rural Indian farm households. The analysis uses panel data on 2115 households spanning 13 states in rural India, merged with a 22-year series of district-level rainfall data. Ex ante, households facing riskier...

In this paper the impacts of income and consumption taxes are analyzed within a model of stochastic endogenous growth with congestion. It is shown that the optimal amount of governmental input diminishes with uncertainty and that the optimal financing depends on the relation between the degrees...

According to retrospective voting a bad economy hurts the incumbent party and vice versa. According to risk-aversion voting a bad economy favors the Democrats over the Republicans and vice versa. This paper provides a test of both theories and rejects risk-aversion voting

Using probabilistic methods and economic principle of maximization, the book studies: performance of different majority rules, independence versus cooperation among the members of an organization in reaching a decision, consequences of the presence of a leader on the performance of a decision...