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Kin Groups and Reciprocity: A Model of Credit Transactions in Ghana
La Ferrara, Eliana - C.E.P.R. Discussion Papers - 2003
This Paper studies kinship-band networks as capital market institutions. It explores two of the channels through which membership in a community where individuals are genealogically linked, such as a kin group, can affect their access to informal credit. The first is that incentives to default...
Persistent link: https://www.econbiz.de/10005504436
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Optimal Capital Allocation Using RAROC And EVA
Stoughton, Neal; Zechner, Josef - C.E.P.R. Discussion Papers - 1999
This paper analyzes financial institutions' capital allocation decisions when their required equity capital depends on … can be delegated through an economic value added (EVA) compensation contract and solve for the optimal capital allocation …
Persistent link: https://www.econbiz.de/10005661956
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The Allocation of European Union Allowances. Lessons, Unifying Themes and General Principles
Buchner, Barbara; Carraro, Carlo; Ellerman, A Denny - C.E.P.R. Discussion Papers - 2006
This paper is the concluding chapter of Rights, Rents and Fairness: Allocation in the European Emissions Trading Scheme … lessons and general principles to be learnt from the allocation of allowances in the European Union Emission Trading Scheme … allocation process and on what are the global implications of the EU ETS. As has become obvious during the first allocation phase …
Persistent link: https://www.econbiz.de/10005667060
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Should Egalitarians Expropriate Philanthropists?
Dasgupta, Indraneel; Kanbur, Ravi - C.E.P.R. Discussion Papers - 2007
Wealthy individuals often voluntarily provide public goods that the poor also consume. Such philanthropy is perceived as legitimizing one’s wealth. Governments routinely exempt the rich from taxation on grounds of their charitable expenditure. We examine the normative logic of this exemption....
Persistent link: https://www.econbiz.de/10005504401
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Public goods, participation constraints, and democracy: A possibility theorem
Grüner, Hans Peter - C.E.P.R. Discussion Papers - 2008
It is well known that ex post efficient mechanisms for the provision of indivisible public goods are not interim individually rational. However, the corresponding literature assumes that agents who veto a mechanism can enforce a situation in which the public good is never provided. This paper...
Persistent link: https://www.econbiz.de/10005504573
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Public Goods in Trade: On the Formation of Markets and Political Jurisdictions
Casella, Alessandra; Feinstein, Jonathan - C.E.P.R. Discussion Papers - 1991
The current debate in Western Europe centres on the relationship between economic and political integration. To address this problem, we construct a simple general equilibrium model in which the returns to trading are directly affected by the availability of a public good. In our model...
Persistent link: https://www.econbiz.de/10005504585
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Information Disclosure and the Economics of Science and Technology
Dasgupta, Partha; David, Paul - C.E.P.R. Discussion Papers - 1985
) analysis of the allocation of resources for industrial research and invention. It addresses the questions: is there a valid …
Persistent link: https://www.econbiz.de/10005504645
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A Theory of Fairness, Competition and Cooperation
Fehr, Ernst; Schmidt, Klaus M. - C.E.P.R. Discussion Papers - 1998
There is strong evidence that people exploit their bargaining power in competitive markets but not in bilateral bargaining situations. There is also strong evidence that people exploit free-riding opportunities in voluntary cooperation games. Yet, when they are given the opportunity to punish...
Persistent link: https://www.econbiz.de/10005504682
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Garbled Elections
Schmitz, Patrick W; Tröger, Thomas - C.E.P.R. Discussion Papers - 2006
Majority rules are frequently used to decide whether or not a public good should be provided, but will typically fail to achieve an efficient provision. We provide a worst-case analysis of the majority rule with an optimally chosen majority threshold, assuming that voters have independent...
Persistent link: https://www.econbiz.de/10005497826
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The Limits of Career Concerns in Federalism: Evidence from China
Persson, Petra; Zhuravskaya, Ekaterina - C.E.P.R. Discussion Papers - 2015
Performance-based promotion schemes in administrative hierarchies have limitations. Chinese provincial leaders, despite facing strong career concerns, make different policy decisions depending on their career backgrounds. Provincial party secretaries who rose from low to high positions within...
Persistent link: https://www.econbiz.de/10011165652