Similar Search Results

Representative versus Direct Democracy: The Role of Informational Asymmetries

Kessler, Anke - 2000

The paper studies the relative merits of direct and representative legislation in a setting where voters are uncertain both with respect to the likely consequences of different policies and with respect to the political preferences of their fellow citizens. Under representative legislation, the...

Persistent link: https://www.econbiz.de/10010317654

The efficient and fair approval of multiple-cost - single-benefit projects under unilateral information

Kahana, Nava; Mealem, Yosef; Nitzan, Shmuel - 2009

This paper focuses on indivisible multiple-costsingle-benefit projects that must be approved by the government. A simple mechanism is proposed that ensures an efficient and fair implementation of such projects. The proposed mechanism is appropriate for a unilateral information structure: the...

Persistent link: https://www.econbiz.de/10010269275

The efficient and fair approval of "multiple-cost - single-benefit" projects under unilateral information

Kahana, Nava; Mealem, Yosef; Nitzan, Shmuel - 2009

This paper focuses on indivisible multiple-cost-single-benefit projects that must be approved by the government. A simple mechanism is proposed that ensures an efficient and fair implementation of such projects. The proposed mechanism is appropriate for a unilateral information structure: the...

Persistent link: https://www.econbiz.de/10010336002

A Lindahl solution to international emissions trading

Nishimura, Yukihiro - 2008

We consider international negotiations on the level of global pollution, and examine the Lindahl solution which determines the distribution of the pollution permits with unanimous agreement. We show various properties to clarify difficulties to achieve a Pareto efficient allocation as an...

Persistent link: https://www.econbiz.de/10010290407

Optimal policy towards families with different amounts of social capital, in the presence of asymmetric information and stochastic fertility

Cigno, Alessandro; Luporini, Annalisa - 2006

We examine the effects of differences in social capital on first and second best transfers to families with children, in an asymmetric information context where the number of births, and the future earning capacity of each child that is born, are random variables. The probability that a couple...

Persistent link: https://www.econbiz.de/10010261415

Intergenerational redistribution with asymmetric information: The case of non-observable savings

Lorz, Jens Oliver - 1999

This paper analyzes intergenerational redistribution in a 2-period overlapping- generations model that allows for heterogeneous labor productivities within the working generation. In each period, the government decides about redistributive transfers to maximize the aggregate utility of the...

Persistent link: https://www.econbiz.de/10010331072

Environmental regulation under asymmetric information with type-dependent outside option

Vislie, Jon - 2000

We consider how a benevolent regulator should regulate a polluting export industry when the industry, having private information about its abatement efficiency, has an option to move its operations abroad, with a type-dependent outside option rent. The paper focuses on the case where outside...

Persistent link: https://www.econbiz.de/10010284294

Why Brennan and Buchanan are wrong (after all)

Apolte, Thomas - 2007

In their book The Power to Tax, Brennan and Buchanan have pointed to a central weakness of the traditional theory of … public finance and especially of the theory of optimal taxation: This approach overlooked the problem of governmental power … theory appears to be once the problem of power is considered. Nevertheless, Brennan and Buchanan's suggestions for …

Persistent link: https://www.econbiz.de/10010298416

Benefit-cost analysis of environmental projects: A plethora of systematic biases

Graves, Philip E. - 2010

There are many reasons to suspect that benefit-cost analysis applied to environmental policies will result in policy decisions that will reject those environmental policies. The important question, of course, is whether those rejections are based on proper science. The present paper explores...

Persistent link: https://www.econbiz.de/10010274086

Mandatory versus discretionary spending: The status quo effect

Bowen, T. Renee; Chen, Ying; Eraslan, Hülya - 2012

Do mandatory spending programs such as Medicare improve efficiency? We analyze a model with two parties allocating a fixed budget to a public good and private transfers each period over an infinite horizon. We compare two institutions that differ in whether public good spending is discretionary...

Persistent link: https://www.econbiz.de/10010397775