How should we measure economic efficiency? The canonical measure is an unweighted sum of willingnesses to pay. In … contrast, this paper provides efficient welfare weights that implement the Kaldor-Hicks tests for efficiency but account for ….5-2x more than surplus to the rich. I illustrate how to use these weights to evaluate the efficiency of government policy …

-standard-deviation increase in the efficiency of bankruptcy is associated with an increase in the stock of corporate bonds equal to 5% of firm …

efficiency of collaboration and the credit allocation that arises after the completion of collaborative work. In this paper, we …

-best allocation and show efficiency can be implemented with decentralization using head taxes. We calibrate the model and compare … choice underlies the failure to achieve efficiency with decentralization and property taxes: Poorer households crowd richer …

measure of the change in iceberg melting, global efficiency rises 0.62% …

In theory, federal transfers that make household location decisions efficient should ignore local cost differences …