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Flat Tax Reforms in the US: A Boon for the Income Poor

Díaz-Giménez, Javier; Pijoan-Mas, Josep - C.E.P.R. Discussion Papers - 2006

In this article we quantify the aggregate, distributional and welfare consequences of two revenue neutral flat-tax reforms using a model economy that replicates the U.S. distributions of earnings, income and wealth in very much detail. We find that the less progressive reform brings about a 2.4%...

Persistent link: https://www.econbiz.de/10005662104

Price Controls and Consumer Surplus

Bulow, Jeremy I.; Klemperer, Paul - C.E.P.R. Discussion Papers - 2009

best understood - and can be related to monopoly-theory results - using the fact that consumer surplus equals the area …

Persistent link: https://www.econbiz.de/10004976788

Information Revelation and Efficiency in Auctions

Mikusheva, Anna; Sonin, Konstantin - C.E.P.R. Discussion Papers - 2002

We study the impact of information revelation on efficiency in auctions. In a constrained-efficient mechanism, i.e. a … increases the expected efficiency of the mechanism. This result cannot be extended to a more general setup: in a second …-price sealed-bid auction, revelation of information might lead to efficiency losses. …

Persistent link: https://www.econbiz.de/10005067415

Estimating the Gains From Trade in Limit Order Markets

Hollifield, Burton; Miller, Robert A.; Sandås, Patrik; … - C.E.P.R. Discussion Papers - 2004

We present a method for identifying and estimating the gains from trade in limit order markets and provide new empirical evidence that the limit order market is a good market design. The gains from trade in our model arise because traders have different valuations for the stock. We use...

Persistent link: https://www.econbiz.de/10005661605

A Primer on the MFA Maze

de Melo, Jaime; Faini, Riccardo - C.E.P.R. Discussion Papers - 1992

The paper identifies the potential sources of allocative inefficiency generated by the Multi-Fiber Agreements (MFA) and examines the evidence for such inefficiencies. Five sources of inefficiency are identified relating to inefficient allocations across countries, across consumers, and among...

Persistent link: https://www.econbiz.de/10005136661

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

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

Demand Fluctuations, Capacity Constraints and Repeated Interaction: An Empirical Analysis of Service Quality Adjustments

Chatain, Olivier; Eizenberg, Alon - C.E.P.R. Discussion Papers - 2015

We utilize a unique database from a large legal services provider to examine how service quality responds to the firm's available capacity and workload, and to the nature of the firm-client relationship. We develop empirical measures of both the (internal) level of resources available to the...

Persistent link: https://www.econbiz.de/10011262890

Multifaceted Transactions, Incentives, and Organizational Form

Habib, Michel Antoine - C.E.P.R. Discussion Papers - 2015

, cooperatives, government ownership, and vertical integration. Distinguishing between resource allocation and resource creation, we … show that resource creation calls for higher powered incentives than does resource allocation. Allowing for diversification …

Persistent link: https://www.econbiz.de/10011184083

Real-Time Hierarchical Resource Allocation with Quadratic Costs

Van Zandt, Timothy - C.E.P.R. Discussion Papers - 2003

This Paper presents a model in which boundedly rational members of an administrative staff calculate resource allocations in real time. We consider a class of hierarchical procedures in which information about payoff functions flows up and is aggregated by a hierarchy, while allocations flow...

Persistent link: https://www.econbiz.de/10005662081