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Carbonell-Nicolau and Llavador (forthcoming) extend the classic result of Jakobsson (1976) and Fellman (1976) - according to which average-rate progressive, and only average-rate progressive income taxes, reduce income inequality - to the case of endogenous income. There it is shown that...
Persistent link: https://www.econbiz.de/10012028608
The case for progressive income taxation is often based on the classic result of Jakobsson (1976) and Fellman (1976), according to which progressive and only progressive income taxes - in the sense of increasing average tax rates on income - ensure a reduction in income inequality. This result...
Persistent link: https://www.econbiz.de/10011687919
We obtain conditions on the primitives of a Bayesian game with infinitely many types and/or strategies that ensure the existence of a perfect Bayes-Nash equilibrium. The main existence results are illustrated in the context of all-pay auctions.
Persistent link: https://www.econbiz.de/10011687930
We consider a shared ownership arrangement among consumers/owners as a means to organize production with an underlying decreasing average cost function typical of natural monopolies. The resulting output allocation yields a lower deadweight loss than the monopoly allocation, and is, in some...
Persistent link: https://www.econbiz.de/10012663135
We prove the existence of a pure-strategy trembling-hand perfect equilibrium in upper semicontinuous potential games, and we show that generic potential games possess pure-strategy strictly perfect and essential equilibria. We also establish a more powerful result: the set of maximizers of an...
Persistent link: https://www.econbiz.de/10011599522
We provide approximation results for Nash equilibria in possibly discontinuous games when payoffs and strategy sets are perturbed, and compare these conditions to those considered in the related literature. We then prove existence results for a new finitistic infinite-game generalization of...
Persistent link: https://www.econbiz.de/10010282852
We prove the existence of strategically stable sets of pure-strategy Nash equilibria (and hence the existence of pure-strategy trembling-hand perfect equilibria) in potential games that admit an upper semicontinuous potential, and we show that generic potential games possess pure-strategy...
Persistent link: https://www.econbiz.de/10010282864
We prove the existence of a pure-strategy trembling-hand perfect equilibrium in upper semicontinuous potential games, and we show that generic potential games possess pure-strategy strictly perfect and essential equilibria. We also establish a more powerful result: the set of maximizers of an...
Persistent link: https://www.econbiz.de/10010934643
It is known that generic games within certain collections of infinite-action normal-form games have only essential equilibria. We point to a difficulty in showing that essential equilibria in generic games are (strictly) perfect, and we identify collections of games whose generic members have...
Persistent link: https://www.econbiz.de/10010940014
Persistent link: https://www.econbiz.de/10006649725