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Tyszler, Marcelo; Schram, Arthur - 2011

We theoretically and experimentally study voter behavior in a setting characterized by plurality rule and mandatory voting, where voters choose from three options. We are interested in the occurrence of strategic voting in an environment where Condorcet cycles may occur. In particular, we focus...

Persistent link: https://www.econbiz.de/10010325876

Competing Recombinant Technologies for Environmental Innovation

Zeppini, Paolo; van den Bergh, Jeroen C.J.M. - 2010

This article presents a model of sequential decisions about investments in environmentally dirty and clean technologies, which extends the path-dependence framework of Arthur (1989). This allows us to evaluate if and how an economy locked into a dirty technology can be unlocked and move towards...

Persistent link: https://www.econbiz.de/10010325877

Finite-State Markov Chains obey Benford's Law

Kaynar, Bahar; Berger, Arno; Hill, Theodore P.; Ridder, Ad - 2010

. Concrete examples illustrate the variouscases that arise, and the theory is complemented with several simulations andpotential …

Persistent link: https://www.econbiz.de/10010325878

Retirement Flexibility and Portfolio Choice in General Equilibrium

Adema, Yvonne; Bonenkamp, Jan; Meijdam, Lex - 2011

risky asset portfolios. We show, however, that this positive relationship between risk taking and retirement flexibility is … considered. Productivity risk in combination with a high elasticity of substitution between consumption and leisure creates a … positive correlation between asset returns and labour income, reducing the willingness of consumers to bear risk. Moreover, it …

Persistent link: https://www.econbiz.de/10010325882

Why Congestion Tolling could be good for the Consumer: The Effects of Heterogeneity in the Values of Schedule Delay and Time on the Effects of Tolling

van den Berg, Vincent; Verhoef, Erik T. - 2010

In studying congestion tolling, it is important to account for heterogeneity in preferences of drivers, as ignoring it can bias the welfare gains. We analyse the effects of tolling, in the bottleneck model, with continuous heterogeneity in the value of time and schedule delay. The welfare gain...

Persistent link: https://www.econbiz.de/10010325883

On the Exact Finite Sample Distribution of the L1 -FCvM Test Statistic

Hinloopen, Jeroen - 2011

We derive the exact finite sample distribution of the L1-version ofthe Fisz-Cramér-von Mises test statistic (L1-FCvM). We first characterizethe set of all distinct sample p-p plots for two balanced sampleof size n absent ties. Next, we order this set according to the correspondingvalue of...

Persistent link: https://www.econbiz.de/10010325887

A Game Theoretical Approach to Sharing Penalties and Rewards in Projects

Estévez-Fernández, Arantza - 2009

This paper analyzes situations in which a project consisting of several activities is not realized according to plan. Ifthe project is expedited, a reward arises. Analogously, a penalty arises if the project is delayed. This paper considersthe case of arbitrary nondecreasing reward and penalty...

Persistent link: https://www.econbiz.de/10010325893

Labour Supply and Commuting: Implications for Optimal Road Taxes

Gutierrez-i-Puigarnau, Eva; van Ommeren, Jos - 2009

A new paradigm for transport economists has been established: revenues of a welfare-maximising road tax should be employed to reduce the level of a distortionary income tax. An essential assumption to reach this conclusion is that the number of workdays is optimally chosen, whereas daily...

Persistent link: https://www.econbiz.de/10010325895

Lobbying of Firms by Voters

Dahm, Matthias; Dur, Robert; Glazer, Amihai - 2009

A firm may induce voters or elected politicians to support a policy it favors by suggesting that it is more likely to invest in a district whose voters or representatives support the policy. In equilibrium, no one vote may be decisive, and the policy may gain strong support though the majority...

Persistent link: https://www.econbiz.de/10010325896

Optimal Central Bank Lending

Schabert, Andreas - 2010

We analyze optimal monetary policy in a sticky pricemodel where the central bank supplies money outrightvia asset purchases and lends money temporarily againstcollateral. The terms of central bank lending affect ra-tioning of money and impact on macroeconomic aggre-gates. The central bank can...

Persistent link: https://www.econbiz.de/10010325898