This paper analyzes the welfare implications of children's enfranchisement within a political economy framework that … equilibrium under Markov strategies and compare welfare across various suffrage schemes and demographic groups. The franchise that … maximizes welfare across demographic groups depends on the fertility rate in the economy. Policies chosen when all demographic …

sustainable. In this paper, we investigate the welfare effects of giving a larger role to private insurance markets in the face of … welfare calculations. We find that observed willingness-to-pay of many individuals is low, such that providing DI partly via a … private insurance market with choice improves welfare. However, we show that distributional concerns as well as individual …

to avoid losses. In this paper, we provide the first welfare analysis under reference-dependent preferences. We decompose … the welfare impact of changes in reference points and prices into direct and behavioral effects, and describe how these … grounded in common empirical findings, we find that lowering reference points robustly improves welfare, while the welfare …

than compensate the welfare reducing impact of market power, irrespective of whether the number of firms is given … exogenously or determined endogenously by a profit constraint. We further show that welfare in a setting with adverse selection … may be higher than the maximized welfare level attainable in a world with perfect observability. …

This paper studies the market and welfare effects of income heterogeneity in monopolistically competitive product …

poor households, are exempted. We provide an optimal tax framework to reflect on the welfare effects of such a tariff … consistent individual welfare measure that depends on both types of goods, is used. To determine optimal tax rates, individual … welfare levels are aggregated by social welfare functions with different degrees of inequality aversion. We apply this …

virus, whereas social trust declined (more) for worried individuals. We lastly find that support for the welfare state …

GDPR, implying that the GDPR can be welfare-improving. But if the firm's revenue is largely from data monetization, then …

policy mix, markets' functioning, and public institutions' quality affect long-term growth and welfare. The reforms include … and welfare gains along the transition and balanced growth paths. In contrast, a lower markup in the research sector hurts … innovation, leading to lower growth over both paths and welfare losses along the transition. …