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We use a simple balanced budget contest to collect taxes on a private good in order to ?nance a pure public good. We show that-with an appropriately chosen structure of winning probabilities-this contest can provide the public good efficiently and without distorting private consumption. We...
Persistent link: https://www.econbiz.de/10008855231
A budget-constrained buyer wants to purchase items from a short-listed set. Items are differentiated by observable quality and sellers have private reserve prices for their items. The buyer’s problem is to select a subset of maximal quality. Money does not enter the buyer’s...
Persistent link: https://www.econbiz.de/10008855232
In this paper we apply the complete analysis of a differentiable game (recently introduced by the author) to determine possible suitable behaviors (actions) of tourism firms during strategic interactions with other tourism firms, from both non-cooperative and cooperative point of view. To...
Persistent link: https://www.econbiz.de/10008855235
This paper develops a growth model of a country under a Hobbesian environment with international conflicts where national defense is the only way to prevent external predation. The long run growth path is determined by the equilibrium of a dynamic game with three players, the external predator,...
Persistent link: https://www.econbiz.de/10008855236
This paper investigates income and population biases in the distribution of aid and decomposes recipients by geographic region. Previous analyses aggregate recipients and assume biases have an equal impact. Results demonstrate that while a bias towards middle-income and medium-sized countries...
Persistent link: https://www.econbiz.de/10008855237
National averages conceal powerful interactions underlying English economic development in the seventeenth and eighteenth centuries. The simplest operational divisions are north, south and London. Initially industry and business culture predominated in the south but this culture was seduced by...
Persistent link: https://www.econbiz.de/10008855238
In this brief note describes the trajectory of the fractal models/multifractal F/M by Benoit Mandelbrot. The promise was discovered by the geometry of Mandelbrot covers a broad area of research fields, from meteorology and mathematical physics to the individual and collective behavior in...
Persistent link: https://www.econbiz.de/10008855239
We analyze the impact on a firm’s profits and optimal wage rates, and on the distribution of workers’ earnings, when workers compare their earnings with those of co-workers. We consider a low-productivity worker who receives lower wage earnings than a high-productivity worker. When the...
Persistent link: https://www.econbiz.de/10008855240
The paper explores puzzles in Indian growth performance such as the prolonged period of below potential growth in the late nineties. Uneven investment was a major explanation. Risk aversion and adverse expectations prevented investment from rising. Since sufficient domestic and foreign savings...
Persistent link: https://www.econbiz.de/10008855241
The rational expectations hypothesis for survey and model-based inflation forecasts − from the Survey of Professional Forecasters and the Greenbook respectively − is examined by properly taking into account the persistence characteristics of the data. The finding of near-unit-root effects in...
Persistent link: https://www.econbiz.de/10008855242