Structural vector auto-regressions (SVARs) are used to simulate US carbon taxes, treating price plus tax as exogenous. These reduce CO2 and GDP. If this fall in GDP is compensated to leave Disposable Income unchanged, the added income drives further declines in CO2, but also lower GDP....

Vector auto-regressions (VARs) are used to simulate US carbon taxes, treating price plus tax as exogenous. These reduce CO2 and GDP. If the fall in GDP is compensated by a fiscal stimulus to leave Disposable Income unchanged, the added income drives further declines in CO2, but also lower GDP....

Lump-sum rebates can protect price-discriminators against reselling. Large customers, however, can bargain for a larger rebate. This paper shows how sellers can make a credible commitment to not bargain: a price discriminating formula is published as a Most-Favoured-Customer (MFC) contract: if...

Despite its abandonment in theoretical work, a literature search shows that variation in consumer surplus (VCS) is the overwhelming choice in applied work -- not compensating variation (CV) or equivalent variation (EV). How can this be explained? Besides the obvious ease of computation, there...

Centralized exchange has a worst-case size-complexity many orders of magnitude lower than decentralized monetary exchange for the same number of agents and goods. A more rapid approach to competitive equilibrium may therefore be possible through centralized exchange. An additional benefit of...

The Condorcet paradox is a classic example of the power of agenda setting how it can determine the political outcome. A classroom voting game shows how alliances between voting blocs can determine an agenda. Agreements on how to vote after the agenda is set will be broken, however, if the...