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Pawns and Queens Revisited : Public Provision of Private Goods When Individuals Make Mistakes
Pirttila, Jukka; Tenhunen, Sanna - 2021
This paper analyses the optimal tax policy and public provision of private goods when individuals differ in two respects: income-earning ability and rationality. Publicly provided goods should be overprovided or subsidised, relative to the decentralised optimum, if society's marginal valuation...
Persistent link: https://www.econbiz.de/10013318503
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Fiscal Windfall Curse
Berset, Simon - 2020
We study the impact of a one-off exogenous fiscal windfall on local public finances in the canton of Zurich in Switzerland. The windfall was due to the IPO of Glencore on the London Stock Exchange in 2011. As a result, its CEO paid an extraordinary tax bill of approximately CHF 360 million....
Persistent link: https://www.econbiz.de/10012847367
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Arm's Length Provision of Public Services
Bennedsen, Morten; Schultz, Christian - 2021
We analyze the economic consequences of strategic delegation of the right to decide between public or private provision of a governmental service and/or the authority to negotiate and renegotiate with the chosen service provider. Our model encompasses both bureaucratic delegation from a...
Persistent link: https://www.econbiz.de/10013316659
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State corporation income taxation: An economic perspective on Nexus
Wildasin, David E. - 2010
Acting in the interest of their residents, within limits imposed by Federal statute and by the Constitution, states have incentives to impose taxes on the profits of corporations owned by nonresidents. This paper presents a model within which a state, using an apportionment formula that includes...
Persistent link: https://www.econbiz.de/10010274909
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Under/Over-Investment and Early Renegotiation in Public-Private Partnerships
Danau, Daniel - 2019
-invest in early construction, seeking a renegotiation thereafter. We show that, in a renegotiation-proof contract, the marginal …
Persistent link: https://www.econbiz.de/10012860529
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Attention-Driven Demand for Bonus Contracts
Dertwinkel-Kalt, Markus - 2019
, competition does not eliminate but rather exacerbates inefficiencies arising from contracting with focused agents. Common contract …
Persistent link: https://www.econbiz.de/10012890631
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Bank Bonus Pay as a Risk Sharing Contract
Efing, Matthias - 2019
make external financing costly, the optimal contract between shareholders and employees involves some degree of risk …
Persistent link: https://www.econbiz.de/10012892088
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Utilities Included : Split Incentives in Commercial Electricity Contracts
Jessoe, Katrina - 2019
This paper quantifies a tenant-side "split incentives" problem that exists when the largest commercial sector customers are on electricity-included property lease contracts causing them to face a marginal electricity price of zero. We use exogenous variation in weather shocks to show that the...
Persistent link: https://www.econbiz.de/10012866313
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Contracts, Biases and Consumption of Access Services
Leider, Stephen - 2012
consumer electronics, and club memberships. We demonstrate that consumption is affected by contract structure (pay-peruse vs …. We also measure subjects' willingness to pay for a contract with free access units, and we find that nearly half of … strategy is therefore to offer a contract that pre-sells access units at a very small discount; this strategy increases revenue …
Persistent link: https://www.econbiz.de/10013111994
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Stochastic Contracts and Subjective Evaluations
Lang, Matthias - 2021
Subjective evaluations are widely used, but call for different contracts from traditional moral-hazard settings. Previous literature shows that contracts require payments to third parties, which real-world contracts rarely use. I show that the implicit assumption of deterministic contracts makes...
Persistent link: https://www.econbiz.de/10013311715