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economists had done "work of high quality and great quantity in the field of taxation," the theory of public expenditure had been … inquiries. Indeed, by the mid-1980s the 'public expenditure theory' lacuna lamented by Samuelson had largely been filled with … the theories of public goods, externalities, marginal-cost cum peak-load pricing. This paper documents and attempts to …
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When productivity is fostered by an individual's own human capital as well as by the economy-wide average level of human capital, individuals under-invest in human capital. A strictly positive probability of migration to a richer country raises both the level of human capital formed by...
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Many mechanisms have been designed to solve the free-rider problem in public good environments. The designers of those mechanisms focused on good static equilibrium properties. In this paper, I propose a new mechanism for the provision of public goods that has good dynamic properties instead....
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We present a new and simple mechanism for repeated public good environments. In the Conditional Contribution Mechanism (CCM), agents send two message of the form, "I am willing to contribute x units to the public good if in total y units are contributed." This mechanism offers agents risk-free...
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kann. Sind diese Voraussetzung jedoch nicht gegeben, was häufig der Fall ist, treten Marktversagen auf und politische … Marktversagen: dem Klimawandel und Finanzkrisen. Der Hauptgrund für den anthropogenen Klimawandel kann in der Absenz von CO2-Kosten …. Marktversagen ; Finanzkrisen ; Handelbare Emissionsbewilligungen ; Investitionsentscheide …
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