Showing 1 - 10 of 593
We analyse a principal-agent relationship in the context of international climate policy. Principals in identical countries first decide whether to join an international environmental agreement (IEA), then delegate the domestic emission choices to an agent. Finally, agents in all countries...
Persistent link: https://www.econbiz.de/10012889724
We reassess the well-known "narrow-but-deep" versus "broad-but-shallow" trade-off in international environmental agreements (IEAs), taking into account the principal-agent relationship induced by the hierarchical structure of international policy. To this end, we expand the modest coalition...
Persistent link: https://www.econbiz.de/10013326522
This paper considers the problem faced by a political authority that has to design a legislative mechanism that guarantees the selection of policies that are stable, efficient, and inclusive in the sense of strategically protecting minority interests. Experimental studies suggest that some of...
Persistent link: https://www.econbiz.de/10012850001
We reassess the well-known "narrow-but-deep" versus "broad-but-shallow" trade-off in international environmental agreements (IEAs), taking into account the principal-agent relationship induced by the hierarchical structure of international policy. To this end, we expand the modest coalition...
Persistent link: https://www.econbiz.de/10012388125
In this note I challenge the claim that if it is possible to successfully produce public goods on a voluntary, decentralized basis, it must also be possible on the same basis to create stable cartels capable of reaping monopoly gains and frustrating consumer sovereignty. My proposed solution is...
Persistent link: https://www.econbiz.de/10012935376
We reassess the well-known “narrow-but-deep” versus “broad-but-shallow” trade-off in international environmental agreements (IEAs), taking into account the principal-agent relationship induced by the hierarchical structure of international policy. To this end, we expand the modest...
Persistent link: https://www.econbiz.de/10013314772
Inefficiencies in the bureaucratic organization of the state are often viewed as important factors in retarding economic development. Why certain societies choose or end up with such inefficient organizations has received very little attention, however. In this paper, we present a simple theory...
Persistent link: https://www.econbiz.de/10014054223
This paper revisits the standard explanations of the violent Chilean protests of late 2019, and in particular their exclusive focus on the role of inequality, which in fact had been falling prior to the emergence of unrest. Instead, we suggest that blame may lie in a crisis of trust in...
Persistent link: https://www.econbiz.de/10015333363
The principal focus in the substantial literature on impediments to economic development has been on the inadequacies of policies and governance. However, successful economic development requires effectiveness of markets and incentives for investment, which in turn require trust. This paper...
Persistent link: https://www.econbiz.de/10010335945
Regimes controlled by a rich elite often collapse and make way for democracy amidst widespread social unrest. Such regime changes are often followed by redistribution to the poor at the expense of the former elite. We argue that the reason why the elite may have to resort to full-scale...
Persistent link: https://www.econbiz.de/10014175750