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991.
Tasos Kalandrakis 《Economic Theory》2009,41(2):317-343
We show that equilibria of a class of participation games (Palfrey and Rosenthal in Public Choice 41(1):7–53, 1983; Journal
of Public Economics 24(2):171–193, 1984) exhibit minimal heterogeneity of behavior so that players’ mixed strategies are summarized
by at most two probabilities. We then establish that, except for a finite set of common costs of participation, these games
are regular. Thus, equilibria of these voting games are robust to general payoff perturbations and survive in nearby games
of incomplete information.
Thanks to participants of the 2006 MPSA conference for comments on an early version. 相似文献
992.
Changes in trade policy affect a nation’s economic welfare through terms-of-trade and volume-of-trade effects. A move to global free trade would imply higher world economic welfare equal to the sum of all nations’ volume-of-trade, or efficiency, effects. Since the sum of the terms-of-trade effects across all nations is zero, terms-of-trade effects are contentious. Konishi, Kowalczyk and Sjöström (2003) have shown that if customs unions do not affect trade with non-member countries, immediate global free could be achieved if free trade were proposed together with international sidepayments equal to the terms of trade effects. How large would these terms of trade effects, and hence transfers, be? This paper presents estimates from a simple computable general equilibrium model of a world economy of perfect competition. We show that, in some cases, terms-of-trade effects are small compared to efficiency gains, and transfers are not necessary for free trade. In other cases, terms-of-trade gains may account for more than 50% of a country’s gains from free trade and transfers could be large. 相似文献
993.
Competitive small-dimension international trade models perform well in comparing free (or restrictive) trade with autarky,
especially in emphasizing that consumption patterns can differ from production patterns and that production becomes highly
concentrated while consumption patterns are expanded. Variations on these small-dimensional models can usefully show how with
trade production patterns may nonetheless be more diverse and a country’s labor force become more heterogeneous in its skills.
The paper illustrates how the Middle Products framework can be reinterpreted to support variety in production and in labor
skills.
相似文献
994.
Franz Wirl 《Environmental and Resource Economics》2007,36(3):313-340
This paper extends the strategic interactions between producers of fossil fuels concerned about their profits and a taxing government concerned about the consumers’ welfare for uncertainty: global warming follows an Itô -process. Stochasticity requires to differentiate between reversible and irreversible emissions in contrast to the deterministic version. The unconstrained (= reversible) case allows for a closed form solution but not the more realistic and constrained case. Nevertheless interesting analytical properties (e.g. about when to stop emissions, implicit conservation due to monopolistic supply) are derived and complemented by a numerical example. 相似文献
995.
David A. Poyer 《The Review of Black Political Economy》2008,35(1):19-29
This paper assesses the Black Enterprise Magazine (BE) ranking of the “top 50 colleges for African Americans,” which it publishes biennially. Its principal objective is to evaluate the statistical consistency in the ranking over the distribution of institutions that compose it. The paper attempts to address two-related questions. Does the BE report provide an unbiased and consistent assessment of the educational value associated with the institutions included in their listing? Is the ranking method internally consistent? Two experiments were used to evaluate the consistency of the BE ranking. First, structural difference in the model used to rank the institutions in the upper and lower half of the distribution is tested. Second, structural difference in the model used to rank HBCU and non-HBCU institutions included in the BE listed ranking is tested. In both cases the null hypothesis of the same structure is rejected. 相似文献
996.
Summary This paper performs a meta-analysis of empirical estimates of uncompensated labour supply elasticities. For the Netherlands,
we find that an elasticity of 0.5 for women and 0.1 for men is a good reflection of what the literature reveals. The elasticity
for men hardly differs between countries, but for women some cross-country variation is found. The increasing participation
rate of women may lead to a somewhat lower elasticity in the future. Both the specification of the hours function and the
estimation method are found to affect elasticity estimates.
相似文献
997.
998.
999.
Hikmet Gunay 《Economic Theory》2008,35(2):367-379
We examine the role that belief, network externality, and information aggregation play in inefficient market collapses. After
receiving consecutive negative shocks, some ex-ante identical Bayesian agents will be discouraged about the unknown state
of the market they invest; therefore, they will stop investing. This decision will have two effects: first, it will cause
agents to aggregate information through social/observational learning; second, it will decrease the network externality effect.
We show that there might be an inefficient market collapse if the externality effect diminishes too much, and the cost of
re-entry to the market is too high. We also analyze the effects of strategic delay and experimentation on the exit decision
of the agents.
I especially thank Thomas D. Jeitschko, Matthew Mitchell, B. Ravikumar Ted Temzelides. I also thank anonymous referees, an
associate editor, John Conlon, Larry Samuelson, Troy Tassier, Stephen Williamson, and seminar participants of the University
of Saskatchewan, Georgia Tech, Concordia University, University of Manitoba, Iowa Alumni Workshop, Midwest Economic Theory
Conferences held at Indiana Bloomington, and Notre Dame, and 1st International Conference on Business, Management and Economics
organized by Yasar University. 相似文献
1000.
Substantial amounts of debt relief have been granted to a set of low-income countries, as an alternative aid modality. Although
the theoretical case for debt relief is firmly established, only empirical analysis can show whether debt relief is indeed
a (more) effective mode of aid delivery. We investigate the linkages between debt relief and other fiscal variables such as
current expenditure, government investment, taxation and domestic borrowing, in comparison to the effects of grants and concessional
loans. We find that the fiscal impact of HIPC debt relief follows fairly complex dynamics. For example, debt relief initially
reduces government investment, but the effect becomes positive after two years, well outperforming other modes of aid delivery.
JEL no. F34, F35, O11, O19 相似文献