O objetivo do artigo é mostrar que a assimetria de informação presente na relação entre governo e produtores agropecuários pode constituir a origem dos problemas que ainda persistem na aplicação do Imposto Territorial no Brasil. Atra-vés da construção de um modelo teórico simples,...

Managed care capitation contracts provide monetary incentives for doctors to save medical costs while standard health insurance contracts do not. The paper proposes an alternative model for insurance markets which is used to analyze managed care contracts. In our model, households would like to...

Since Henry George (1839-1897) economists have been arguing that a tax on unim- proved land is an ideal tax on e¢ ciency grounds. Output taxes, on the other hand, have distortional e¤ects on the economy. This paper shows that under asymmetric information output tax might be used along with...

When infinite lived agents trade long-lived assets secured by durable goods, equilibrium exists without any uniform impatience requirements or additional debt constraints. Asset pricing bubbles are absent when the new endowments of durable goods are uniformly bounded away from zero. Otherwise,...