Showing 1 - 10 of 4,079
I develop a dynamic model of private provision of public bads allowing investments in technologies. The analysis is tractable and the MPE unique. The framework is used to derive optimal incomplete contracts in a dynamic setting. While the noncooperative equilibrium is very inefficient,...
Persistent link: https://www.econbiz.de/10008810179
This paper revisits the role played by myopia in generating a theoretical rationale for pay-as-you-go social security in dynamically efficient economies. Contrary to received wisdom, if the real interest rate is exogenously fixed, enough myopia may justify public pensions but never alongside...
Persistent link: https://www.econbiz.de/10003751200
Interjurisdictional flows of imperfectly-mobile migrants, investment, and other productive resources result in the costly dynamic adjustment of resource stocks. This paper investigates the comparative dynamics of adjustment to changes in local fiscal policy with two imperfectly mobile productive...
Persistent link: https://www.econbiz.de/10003888053
where learning-by-doing makes incumbent firms more efficient over time. We consider a sequential procurement design problem … in which local and global firms compete for public good provision. Both firms benefit from learning-by-doing if they … provide the public good in the previous period but global firms only may be able to transfer learning-by-doing from different …
Persistent link: https://www.econbiz.de/10009630098
Climate modelers have recognized the possibility of abrupt climate changes caused by a reorganization of the North Atlantic's current pattern (technically known as a thermohaline circulation collapse). This circulation system now warms north-western Europe and transports carbon dioxide to the...
Persistent link: https://www.econbiz.de/10009781694
We present a dynamic lifecycle model of women's choices with respect to partnership status, labour supply and fertility when a male partner's true tendency for abusive behaviour is unobserved. The model is estimated by the method of simulated moments using longitudinal data from the Avon...
Persistent link: https://www.econbiz.de/10011822638
This paper studies how learning from neighboring firms affects new exporters' performance and dynamics. We develop a … entry and initial sales in the market, but lowers post-entry growth, conditional on survival. These learning effects are …
Persistent link: https://www.econbiz.de/10010256701
We describe a dynamic model of costly information sharing, where private information affecting collective-value actions is transmitted by social proximity. Individuals make voluntary contributions towards the provision of a pure public good, and information transmission about quality of...
Persistent link: https://www.econbiz.de/10010212674
The paper investigates social-learning when the information structure is not commonly known. Individuals repeatedly … interact in social-learning settings with distinct information structures. In each round of interaction, they use their … behavior in the long-run if and only if individuals distinguish social-learning settings and receive rich feedback after each …
Persistent link: https://www.econbiz.de/10011434567
The literature on learning in unknown environments emphasises reinforcing on actions which produce positive results …
Persistent link: https://www.econbiz.de/10011517970