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1.
Changes in total surplus are traditional measures of economic welfare. We propose necessary and sufficient conditions for
rationalizing individual and aggregate consumer demand data with individual quasilinear and homothetic utility functions.
Under these conditions, consumer surplus is a valid measure of consumer welfare. For nonmarketed goods, we propose necessary
and sufficient conditions on input market data for efficient production, i.e. production at minimum cost. Under these conditions
we derive a cost function for the nonmarketed good, where producer surplus is the area above the marginal cost curve.
We are greatful to helpful remarks and comments of the referees and the editor. The work is partially supported by the Spanish
Ministry of Science and Technology, through Grant BEC2002-2130, the Generalitat de Catlaunya, through Grant 2005SGR-00454
and the Barcelona Economics Program (CREA). 相似文献
2.
This paper contributes to the literature on fiscal equalization and corporate tax competition. The innovation is that we explicitly model multinational enterprises and a corporate tax system that is designed according to formula apportionment. Two main results are obtained. First, in contrast to previous studies we identify cases where tax revenue equalization is better in mitigating detrimental tax competition than tax base equalization. Second, tax base equalization nevertheless has the advantage that it may render tax rates efficient, depending on the shape of the apportionment formula. A pure payroll formula does not ensure efficiency, but a back‐of‐the‐envelope calibration of our model to Canadian provinces suggests that a pure sales formula may be optimal. 相似文献
3.
Corrado Benassi Alessandra Chirco † Caterina Colombo 《Bulletin of economic research》2006,58(4):345-367
The paper analyses the effects of income concentration on the behaviour of a duopoly with vertical product differentiation and uncovered market. By using a trapezoid distribution, we solve explicitly for market equilibrium as a function of a mean preserving spread of the income distribution. We show that overall more concentrated incomes imply stronger product differentiation, as the presence of a large share of middle‐income consumers stimulates a price competition, whose effects are dampened through an enlargement of the quality spread. While the high‐quality advantage and market coverage increase unambiguously in the degree of income concentration, the behaviour of prices is non‐monotone in the distribution parameter. 相似文献
4.
Caterina Moschieri 《战略管理杂志》2011,32(4):368-401
Existing literature on value creation of divestitures focuses on their antecedents, typically relating them to the parent company's financial performance. Whether and how divestitures can create value for the divested unit remains unclear. This paper presents an exploratory study based on multiple cases, to examine which factors of the implementation and structuring of a divestiture may increase the performance of a divested unit. The emergent granular framework consists of previously unreported aspects of the divesting process and provides new insights into divestitures and their outcomes. Results indicate that antecedents alone may be insufficient for understanding the outcomes of divestitures. Different combinations of understanding of the rationale for the divestiture and perceived capabilities in the divesting process affect perceptions of divestiture feasibility. Sense of opportunity emerges as the key element of the divesting process for the success of divested units. Factors that participate with sense of opportunity in determining the success of divested units are further considered in the theoretical framework. Copyright © 2010 John Wiley & Sons, Ltd. 相似文献
5.
Our “stakeholder synergy” perspective identifies new value creation opportunities that are especially effective strategically because a single strategic action (1) increases different types of value for two or more essential stakeholder groups simultaneously, and (2) does not reduce the value already received by any other essential stakeholder group. This result is obtainable because multiple potential sources of value creation exist for each essential stakeholder group. Actions that meet these criteria increase the size of the value “pie” available for essential stakeholder groups, and thereby serve to attract exceptional stakeholders and obtain their increasing effort and commitment. The stakeholder synergy perspective extends stakeholder theory further into the strategy realm, and offers insights for realizing broader value creation that is more likely to produce sustainable competitive advantage. Copyright © 2014 John Wiley & Sons, Ltd. 相似文献
6.
This paper analyses the empirical risk tolerance of individuals and the role of physiological measures of risk perception. By using a test that mimics the financial decision process in a laboratory setting (N?=?445), we obtained an ex-post empirical measure of individual risk tolerance. Predictive classification models allow us to evaluate the accuracy of two alternative risk-tolerance forecasting methods: a self-report questionnaire and a psycho-physiological experiment. We find that accuracy of self-assessments is low and that misclassifications resulting from questionnaires vary from 36 to 65%: individuals asked to self-evaluate their risk tolerance reveal a high probability of failing their judgement, i.e. they behave as risk takers, even if, before the task, they define themselves as risk averse (and vice versa). Conversely, when the risk-tolerance forecast is obtained from individuals’ physiological arousal, observed via their somatic activation before risky choices, the rate of misclassification is considerably lower (~17%). Emotions are confirmed to influence the financial risk-taking process, enhancing the accuracy of the individual risk-tolerance forecasting activity. Self-report questionnaires, conversely, could lead to inadequate risk-tolerance assessments, with consequent unsuitable investment decisions. Bridging these results from the individual to the institutional level, our findings should enhance cautiousness, among regulators and financial institutions, on the (ab)use of risk tolerance questionnaires as tools for classifying individuals’ behaviour under risk. 相似文献
7.
Caterina Ruggeri Laderchi 《Oxford Development Studies》2013,41(3):345-360
Abstract In this paper we analyse the choice of the dimension in which poverty is to be measured by reviewing some implications arising from the debate on the concept of welfare. By discussing Sen's capability approach, in particular, it is suggested that income or consumption are not necessarily the only indicators of interest in a poverty analysis. We then explore how comprehensive a picture of poverty can be gained by focusing on an income‐based measure, using Chilean data from 1992. We analyse the role of income both as having a direct impact on a set of indicators of well‐being and as proxying the relevant factors affecting them. In both cases the link is found to be weak. This suggests that poverty analysis is highly conditional on the indicators chosen and that the approach should be kept as broad as possible in order to capture more fully the multidimensional nature of such a complex phenomenon. 相似文献
8.
Using a multiple-case study of alleged expropriations reported before the World Bank, we examine how multinational companies (MNC) react to the escalating hostility of host governments. Our study reveals how different choices regarding the interaction with local nonmarket stakeholders – which we refer to as proximal vs. mediated embedding – shape how managers respond to these disputes by affecting their ability to collect, process and interpret information, and to act upon it in a way that effectively mobilizes local and international support. In contrast to the prevailing view that local partners in international joint ventures shelter MNCs from abuse from political authorities, our findings show that primary reliance on local partners to manage the local nonmarket environment can actually reinforce a liability of outsidership and even create a ‘liability of insidership’, to the extent that relying on local partners prevents the MNC from establishing quality connections with a broad range of nonmarket stakeholders, reducing its alertness and responsiveness to hostile acts from host governments. 相似文献
9.
We introduce non‐homothetic preferences in the Dixit–Stiglitz model of monopolistic competition, and enquire about the effects of a change in income dispersion on the firms’ optimal decisions and market equilibrium. Income dispersion, modeled as a mean preserving spread, is shown to affect only the degree of product differentiation under the standard negligibility hypothesis on the firms’ decision making process, while it generates a positive co‐movement of demand and demand elasticity, when this assumption is removed and the price index effect is taken into account. 相似文献
10.
Caterina Cruciani Anna Moretti Paolo Pellizzari 《Journal of Economic Interaction and Coordination》2017,12(1):121-141
Understanding what motivates and fosters collective actions has major implications in the governance and management of organizations, in the regulation and design of public policies, and has long attracted the interests of scholars and practitioners in business and economics. This paper deals with how groups of agents emerge in a dynamic contest characterized by lack of formal structure and uncertainty regarding the possible individual outcomes, focusing on the features of the cooperators and on the dynamics emerging among them. Through the development of a stylized agent-based model we start by showing how similarity in values can be a successful driver for cooperation but are also able to highlight the limits of such process, by looking at how and how much agents cooperate with similar others. A second-version of the model, where memory of past interactions has a role, introduces further dynamics and is able to create successful and relatively stable groups. 相似文献