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作者：LUSKI, I; WETTSTEIN, D
作者单位：Ben-Gurion University of the Negev; Ben-Gurion University of the Negev; Western University (University of Western Ontario)
摘要：This paper considers an economy where a public good is provided via advertising. The consumers' preferences are represented using the 'characteristics' approach', and the advertising has a potentially enhancing effect on the characteristics' content of a given commodity. We define competitive equilibria and show they exist. The welfare properties of the resulting allocations are analyzed, and conditions for over- and under-production of the public good are provided.
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作者：CHATTERJEE, S
摘要：The evolution of the personal distribution of wealth in a standard neoclassical growth model is studied. If the economy is growing toward the steady state and preferences are such that marginal utility from consumption is infinite (finite) at some (all) positive (non-negative) consumption level(s), then the average saving propensity of agents is positively (negatively) related to their wealth. If the economy is decaying toward the steady state, these relationships are reversed. If wealth and a...
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作者：DANA, JD; SPIER, KE
作者单位：Harvard University; Dartmouth College
摘要：This paper considers government mechanisms for auctioning production rights in which both the winners and the market structure, duopoly (dual-sourcing), monopoly (sole-sourcing), or government-owned production, are a function of the bids. In designing the optimal mechanism, the government considers the tradeoffs among consumer surplus, producer surplus, and revenue. Under incomplete information, duopoly is implemented less frequently, and government production more frequently, than under compl...
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作者：ISAAC, RM; WALKER, JM; WILLIAMS, AW
作者单位：Indiana University System; Indiana University Bloomington; University of Arizona
摘要：New experimental evidence extending the investigation of free-riding behavior in public goods provision is presented. Procedures are developed to deal with the logistical problems inherent in experiments involving many subjects. Data from Voluntary Contribution Mechanism experiments are reported utilizing group sizes of 4, 10, 40 and 100. These experiments provide replicable results that contradict the widely held view that a group's ability to provide the optimal level of a pure public good i...
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作者：WERNER, IM
摘要：Distortionary proportional capital income taxation is shown to cause both static effects via portfolio re-allocation and dynamic effects via changes in the value of a claim to future transfers as well as via perceived changes in the future investment opportunity set. The stochastic structure of returns to investment is important for understanding the consequences of a unilateral increase in the domestic tax rate. A government choosing optimal tax policy makes a tradeoff between the increase in...
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作者：AGELL, J; DILLEN, M
摘要：Basic welfare economics tells us that many types of externalities can be remedied by proper use of corrective taxes and subsidies. This paper shows that this notion also extends to the macroeconomic externalities discussed in recent Keynesian literature on nominal price rigidities. The derived policy rules are kindred in spirit to standard Keynesian policy prescriptions: progressive taxes may serve a useful role in combating wasteful economic fluctuations. However, unlike older fix-price model...
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作者：IRELAND, NJ
摘要：In many societies, individuals care how others view them. In their efforts to impress, such individuals engage in consumption signals which attempt to establish higher levels of status than their true status type. This leads to an inefficiency which offers the possibility of a Pareto-improving tax policy. The impacts of tax policy and benefits on the signalling equilibrium are considered.
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作者：GORDON, RH; MACKIEMASON, JK
摘要：Income from corporate and noncorporate firms is treated very differently under the tax law. In theory, given existing tax law, the noncorporate sector should consist of very profitable firms owned by low-tax-bracket investors and firms with tax losses owned by high-tax-bracket investors. But the degree to which firms change their form of organization in response to taxes, and the resulting excess burden, depends as well on nontax factors. Given the role of taxes, we estimate what size the nont...
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作者：WOO, CK
作者单位：City University of Hong Kong
摘要：Supply shortage is a common problem faced by a consumer. Solutions for allocating the limited supply include rationing, queuing, interruption and pricing. While previous research has examined the welfare losses generated by each solution, there is little evidence on their relative magnitudes within a common framework. The objective of this paper is to specify a model of consumer behaviour under service interruption to estimate the exact welfare loss of service interruption. The same model is u...
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作者：SCOTT, F; GAREN, J
摘要：When consumers' indifference curves are discontinuous at zero, perhaps due to stigma or fixed costs of purchase, then factors influencing the amount purchased will have a different effect on the probability of purchase. Estimation of the demand for a commodity like lottery tickets requires a procedure that accounts for this. Tobit estimation, commonly used in this literature, does not allow for this generalization. We investigate individual lottery ticket purchases using data from a survey of ...
