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Gun for Hire : Does Delegated Enforcement Crowd Out Peer Punishment in Giving to Public Goods?

Andreoni, James - 2011

This paper compares two methods to encourage socially optimal provision of a public good. We compare the efficacy of vigilante justice, as represented by peer-to-peer punishment, to delegated policing, as represented by the "hired gun" mechanism, to deter free riding and improve group welfare....

Persistent link: https://www.econbiz.de/10013125564

Collective Action in an Asymmetric World

Chen, Cuicui - 2016

A central authority possessing tax and expenditure responsibilities can readily provide an efficient level of a public good. Absent a central authority, voluntary arrangements must replace coercive ones. Significant under-provision must be expected. International public goods are particularly...

Persistent link: https://www.econbiz.de/10012992148

Merit Motives and Government Intervention : Public Finance in Reverse

Mulligan, Casey B.; Philipson, Tomas J. - 2022

in-kind transfers rather than cash may be indicative of merit motives on the part of the payers rather than a preference … tradeoff rather than the classic one. Transfers are not lump sum in a merit good economy, and explicitly accounting for this … much as the progressive' benefits help them. When the distortions outweigh fiscal transfers in this manner, the classic …

Persistent link: https://www.econbiz.de/10013308466

Quantitative Models of Commercial Policy

Ossa, Ralph - 2016

What tariffs would countries impose if they did not have to fear any retaliation? What would occur if there was a complete breakdown of trade policy cooperation? What would be the outcome if countries engaged in fully efficient trade negotiations? And what would happen to trade policy...

Persistent link: https://www.econbiz.de/10012997374

"Nash-in-Nash" Tariff Bargaining with and Without MFN

Bagwell, Kyle - 2017

-country, two-good general equilibrium model of international trade when transfers are not feasible. We consider "weak …

Persistent link: https://www.econbiz.de/10012946037

Influencing Connected Legislators

Battaglini, Marco - 2016

This paper studies how interest groups allocate campaign contributions when congressmen are connected by social ties. We establish conditions for the existence of a unique Nash equilibrium in pure strategies for the contribution game and characterize the associated allocation of the interest...

Persistent link: https://www.econbiz.de/10012981101

Coalition Formation in Legislative Bargaining

Battaglini, Marco - 2019

We propose a new model of legislative bargaining in which coalitions have different values, reflecting the fact that the policies they can pursue are constrained by the identity of the coalition members. In the model, a formateur picks a coalition and negotiates for the allocation of the surplus...

Persistent link: https://www.econbiz.de/10012890469

Endogenous Credit Cycles

Gu, Chao - 2011

We study models of credit with limited commitment, which implies endogenous borrowing constraints. We show that there are multiple stationary equilibria, as well as nonstationary equilibria, including some that display deterministic cyclic and chaotic dynamics. There are also stochastic...

Persistent link: https://www.econbiz.de/10013119597

Computing Markov Perfect Nash Equilibria : Numerical Implications of a Dynamic Differentiated Product Model

Pakes, Ariel; MacGuire, Paul - 2021

This paper provides an algorithm for computing Markov Perfect Nash Equilibria (Maskin and Tirole, 1988a and b) for dynamic models that allow for heterogeneity among firms and idiosyncratic (or firm specific) sources of uncertainty. It has two purposes. To illustrate the ability of such models to...

Persistent link: https://www.econbiz.de/10013230623

Volatile Policy and Private Information : the Case of Monetary Policy

Jones, Larry; Manuelli, Rody - 2021

In this paper we study how volatility in monetary policy affects economic performance in the presence of endogenously chosen information structures. To isolate the effects produced by the interaction of uncertainty in monetary policy and (possibly) asymmetric information, we consider a model in...

Persistent link: https://www.econbiz.de/10013230773