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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/10012461626

Tax Competition and Migration : The Race-to-the-Bottom Hypothesis Revisited

Razin, Assaf - 2011

Oates reminds us that tax competition among localities in the presence of capital mobility, may lead to inefficiently low tax rates (and benefits). In contrast, the Tiebout paradigm suggests that tax competition yields an efficient outcome, so that there are no gains from tax coordination. This...

Persistent link: https://www.econbiz.de/10012461987

Subgame Perfect Implementation with Almost Perfect Information and the Hold-Up Problem

Aghion, Philippe - 2009

The foundations of incomplete contracts have been questioned using or extending the subgame perfect implementation approach of Moore and Repullo (1988). We consider the robustness of subgame perfect implementation to the introduction of small amounts of asymmetric information. We show that...

Persistent link: https://www.econbiz.de/10012463482

Volatile Policy and Private Information : The Case of Monetary Policy

Jones, Larry E. - 1999

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/10012471724

A Conic Algorithm for the Group Minimization Problem

Simeone, Bruno - 1976

A new algorithm for the group minimization problem (GP) is proposed. The algorithm can be broadly described as follows …-known algorithm of Glover, and checked for non-negativity. The first non-negative point is an optimal solution of (GP). Advantages and … disadvantages of the algorithm are discussed; in particular, the implementation of the algorithm (which can be easily extended so as …

Persistent link: https://www.econbiz.de/10012478970

An Economic Approach to Regulating Algorithms

Rambachan, Ashesh - 2020

objective function for the algorithm designer and a model of their information sets and interaction. We build such a model that … allows the training data to exhibit a wide range of "biases." Prevailing wisdom is that biased data change how the algorithm … is trained and whether an algorithm should be used at all. In contrast, we find two striking irrelevance results. First …

Persistent link: https://www.econbiz.de/10012481694

Competitive Model Selection in Algorithmic Targeting

Iyer, Ganesh; Ke, T. Tony - National Bureau of Economic Research - 2023

algorithm in terms of model complexity or the number of predictors to accommodate. Each firm then appoints a data analyst that … uses the chosen algorithm to estimate demand for multiple consumer segments, based on which, it devises a targeting policy …

Persistent link: https://www.econbiz.de/10014247922

Spooky Boundaries at a Distance : Inductive Bias, Dynamic Models, and Behavioral Macro

Kahou, Mahdi Ebrahimi; Fernández-Villaverde, Jesús; … - National Bureau of Economic Research - 2024

In the long run, we are all dead. Nonetheless, when studying the short-run dynamics of economic models, it is crucial to consider boundary conditions that govern long-run, forward-looking behavior, such as transversality conditions. We demonstrate that machine learning (ML) can automatically...

Persistent link: https://www.econbiz.de/10015056176

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/10012455941

Collective Action in an Asymmetric World

Chen, Cuicui - 2016

Solution or the Lindahl Equilibrium to proceed to the Pareto frontier. We apply our theory to climate change mitigation, a …

Persistent link: https://www.econbiz.de/10012456435