作者：Kovach, Matthew; Tserenjigmid, Gerelt
作者单位：Virginia Polytechnic Institute & State University; University of California System; University of California Santa Cruz
摘要：We provide the first behavioral characterization of nested logit, a foundational and widely applied discrete-choice model, through the introduction of a nonparametric version of nested logit that we call nested stochastic choice (NSC). NSC is characterized by a single axiom that weakens independence of irrelevant alternatives on the basis of revealed similarity to allow for the similarity effect. Nested logit is characterized by an additional menu-independence axiom. Our axiomatic characteriza...
作者：Jones, Charles I.
作者单位：Stanford University; National Bureau of Economic Research
摘要：This paper considers top income taxation when (i) new ideas drive economic growth, (ii) the reward for successful innovation is a top income, and (iii) innovation cannot be perfectly targeted by a research subsidy-think about the business methods of Walmart, the creation of Uber, or the idea of Amazon. These conditions lead to a new force affecting the optimal top tax rate: by slowing the creation of new ideas that drive aggregate GDP, top income taxation reduces everyone's income, not just in...
