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Capital Taxation, Tobin's "Q" and Overlapping Generations

Yakita, Akira - 2001

This study examines the effect of capital taxation on the long-term equilibrium in an intertemporal model, incorporating overlapping generations of the Blanchard-Weil type and value-maximizing firms with adjustment costs in investment. I demonstrate that an increase in capital taxation raises...

Persistent link: https://www.econbiz.de/10014151157

Gains from Price Rigidity

Nishimura, Kazuo G. - 2000

This paper shows that there are substantial gains from price rigidity in an imperfectly competitive economy. Firms can increase their profits by agreeing some markets as markets of long-term contracts, of which prices are determined in advance to other spot market prices. Although they determine...

Persistent link: https://www.econbiz.de/10014151158

Presidential Address : Welfare Economics Beyond Welfarist-Consequentialism

Suzumura, Kotaro - 2001

Capitalizing on the recent work in social choice theory, I re-examine the foundations of post-Pigovian welfare … economics and social choice theory. The structure of the "old" and "new" welfare economics is critically scrutinized, and the … culprits of the poverty of welfare economics as well as of Arrovian social choice theory are boiled down to their common …

Persistent link: https://www.econbiz.de/10014151162

Investigating the Robustness of Macroeconomic Inference to Measurement Errors : The Case of the Consumer Decision Interval

Ermini, Luigi - 2001

That economists know next to nothing about measurement errors is not a good reason to assume them away. A more meaningful approach might be to investigate under which classes of measurement errors a given null hypothesis is rejected or not rejected. This paper illustrates this approach for the...

Persistent link: https://www.econbiz.de/10014151164

Extended Games Played by Managerial Firms

Lambertini, Luca - 2000

The issue of timing is addressed in a game between managerial firms. The choice over timing can be taken either by managers or by entrepreneurs. It is shown that (i) delegation drastically modifies the owners' preferences concerning the distribution of roles, as compared with the setting where...

Persistent link: https://www.econbiz.de/10014151167

The Relationship between Individual Risk and Cost-Effectiveness in Screening Interventions

Sampson, Christopher James; James, Marilyn; Whynes, David - 2013

Advancements in our understanding of the causes and correlates of disease mean that we are now able to estimate an individual's level of risk. This, and the ever-increasing need for healthcare interventions to be cost-effective, has led to calls for the introduction of risk-based screening....

Persistent link: https://www.econbiz.de/10014151175

A Theory of Subjective Learning, Third Version

Dillenberger, David; Lleras, Juan Sebastian; Sadowski, … - 2013

We study an individual who faces a dynamic decision problem in which the process of information arrival is unobserved by the analyst. We elicit subjective information directly from choice behavior by deriving two utility representations of preferences over menus of acts. One representation...

Persistent link: https://www.econbiz.de/10014151177

Roads as Channels of Centrifugal Policy Transfer : A Spatial Interaction Model Revised

Kopczewska, Katarzyna - 2013

This paper proposes a methodology for measuring the spatial effects of roads and the seats of local authorities on the diffusion of business activity, which usually follows distance decay patterns from core to periphery. Regional development policies, pursued by regional authorities, directed at...

Persistent link: https://www.econbiz.de/10014151182

Homo Socialis : An Analytical Core for Sociological Theory

Gintis, Herbert; Helbing, Dirk - 2013

We develop an analytical core for sociology. We follow standard dynamical systems theory by first specifying the … social equilibrium model is an expansion of the general equilibrium model of economic theory, and our dynamical principles … treat the society as a complex adaptive dynamical system that can be studied using evolutionary game theory and agent …

Persistent link: https://www.econbiz.de/10014151185

Heuristic and Exact Solutions to the Inverse Power Index Problem for Small Voting Bodies

Kurz, Sascha; Napel, Stefan - 2013

Power indices are mappings that quantify the influence of the members of a voting body on collective decisions a priori. Their nonlinearity and discontinuity makes it difficult to compute inverse images, i.e., to determine a voting system which induces a power distribution as close as possible...

Persistent link: https://www.econbiz.de/10014151189