We compare wealth taxes and capital gains taxes in a random growth model with idiosyncratic investment risk. At equal tax revenue, wealth taxes generate higher wealth inequality but also higher wealth mobility than capital gains taxes. The mechanism operates through variance: wealth taxes shift...

Short-selling restrictions are often enacted during financial turmoil to promote market stability, though most research highlights their negative impact on market quality. This study examines the stability and effectiveness of these restrictions in preventing market crashes in an agent-based...

Little is known about the effects of political conflicts on the status of women in society. Polarizing attitudes might have a differential effect on women's lives after a conflict. To consider this, the case of Greece after the Second World War is exploited, when the country became highly...

The relationship between firm markups and inflation remains a topic of contention. Empirical findings suggest that many firms were able to maintain or increase their markups and profits amidst the recent wide-ranging cost shocks. This phenomenon, often referred to as sellers' inflation, raises...

This paper investigates how social network and conformity dynamics shape the stability of inflation expectations and the dissemination of economic narratives. Using an agent-based macroeconomic simulation, I integrate a heuristic switching framework with an opinion dynamics mechanism to examine...

We argue that most of the existing literature on inflation inequality misses an essential source of disparity by focusing on differences in expenditures while ignoring the effect of a price change on the purchasing power of households' incomes. As a remedy, we propose weighting price changes by...

Although consumers often care about environmental quality, limited attention impairs consumers' perception of environmental quality. Environmental awards and labels make environmental quality salient and attract consumers' attention. We analyze how awards and labels affect firms' investments in...

We investigate the impact of an environmental award in a Bertrand duopoly with green consumers considering a three-stage game. First, the regulator designs the environmental contest. Second, firms choose their green investments, and the winner of the contest is awarded. Third, firms compete in...

Consumers increasingly care about the environmental quality of the goods they consume. However, limited attention impairs consumers' ability to compare and evaluate the environmental quality of goods. I show that investments in environmental quality, consumer surplus, producer surplus, and...

We conduct a laboratory experiment to compare the fairness and intensity of round-robin tournaments with three symmetric players, a single prize, and two alternative match formats. Matches are either organized as lottery contests or all-pay auctions. Whereas we confirm the theoretical prediction...