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Immediate demand reduction in simultaneous ascending bid auctions

Riedel, Frank; Wolfstetter, Elmar - 2004

The present note analyzes the Simultaneous Ascending Bid Auction with arbitrarily many bidders with decreasing marginal valuations under complete information. We show that the game is solvable by iterated elimination of weakly dominated strategies if the efficient allocation assigns at least one...

Persistent link: https://www.econbiz.de/10010261069

Network markets and consumer coordination

Ambrus, Attila; Argenziano, Rossella - 2004

This paper assumes that groups of consumers in network markets can coordinate their choices when it is in their best interest to do so, and when coordination does not require communication. It is shown that multiple asymmetric networks can coexist in equilibrium if consumers have heterogeneous...

Persistent link: https://www.econbiz.de/10010261070

Monopoly, inequality and redistribution via the public provision of private goods

Katsimi, Margarita; Moutos, Thomas - 2004

competitive and monopolistic settings. We find that the presence of monopoly results in a higher tax rate than in the competitive … case and that in the latter case an increase in inequality can be associated with a fall in the tax rate. We find also that … although the median voter may not vote for a positive tax rate in the presence of public sector inefficiency under perfect …

Persistent link: https://www.econbiz.de/10010261071

Long-run selection and the work ethic

Josephson, Jens; Waerneryd, Karl - 2004

That individuals contribute in social dilemma interactions even when contributing is costly is a well-established observation in the experimental literature. Since a contributor is always strictly worse off than a non-contributor the question is raised if an intrinsic motivation to contribute...

Persistent link: https://www.econbiz.de/10010261072

Managerial hedging and portfolio monitoring

Bisin, Alberto; Gottardi, Piero; Rampini, Adriano A. - 2004

Incentive compensation induces correlation between the portfolio of managers and the cash flow of the firms they manage. This correlation exposes managers to risk and hence gives them an incentive to hedge against the poor performance of their firms. We study the agency problem between...

Persistent link: https://www.econbiz.de/10010261074

Partnership dissolution, complementarity, and investment incentives

Li, Jianpei; Wolfstetter, Elmar - 2004

We study a partnership that anticipates its possible dissolution. In our model, partnerships form in order to take advantage of complementary skills; although new opportunities may arise that make partners? skills useless. We characterize the optimal, incentive-compatible partnership contract...

Persistent link: https://www.econbiz.de/10010261076

Antitrust analysis of tying arrangements

Choi, Jay Pil - 2004

Tying arrangements recently have been a major and contentious issue in many high profile antitrust cases in the US and Europe. Examples include the Microsoft case, the Visa and MasterCard case, and the proposed GE/Honeywell merger to name a few. This paper conducts a selective review of the...

Persistent link: https://www.econbiz.de/10010261085

Political economy of commuting subsidies

Borck, Rainald; Wrede, Matthias - 2004

We study the political economy of commuting subsidies in a model of a mono-centric city with two income classes. Depending on housing demand and transport costs, either the rich or the poor live in the central city and the other group in the suburbs. Commuting subsidies increase the net income...

Persistent link: https://www.econbiz.de/10010261087

Combining Dutch presumptive capital income tax and US qualified intermediaries to set forth a new system of international savings taxation

Gérard, Marcel - 2004

interesting innovations and suggestions concerning how to tax international savings. We examine some of these advances, which we …

Persistent link: https://www.econbiz.de/10010261088

Calculating tragedy : assessing the costs of terrorism

Frey, Bruno S.; Luechinger, Simon; Stutzer, Alois - 2004

The trends and consequences of terrorist activities are often captured by counting the number of incidents and casualties. More recently, the effects of terrorist acts on various aspects of the economy have been analyzed. These costs are surveyed and put in perspective. As economic consequences...

Persistent link: https://www.econbiz.de/10010261089