Why don't people buy annuities? Several explanations have been provided by the previous literature: large fraction of preannuitized wealth in retirees' portfolios; adverse selection; bequest motives; and medical expense uncertainty. This paper uses a quantitative model to assess the importance...

The present paper is an attempt to evaluate the relative status of development and deprivation of the state of Meghalaya vis-à-vis other states in northeast India. The first two sections of the paper are devoted to an introduction to the state whereas the rest of the sections deal with...

Based on meso data, study analyses the causes of poverty and food insecurity. It seeks to identify who is food insecure and where they are, why they risk food insecurity and what options exist to reduce their vulnerability. Using the sustainable livelihoods framework and collecting qualitative...

This paper studies the effect of free disposal on the existence of Walrasian equilibrium for exchange economies with indivisible objects. It is shown that allowing an agent to enjoy free disposal has the same effect for generating an equilibrium (or eliminating existing equilibria) as allowing...

Agglomeration can be caused by asymmetric information and a locational signaling effect: The location choice of workers signals their productivity to potential employers. The cost of a signal is the cost of housing at that location. When workers' marginal willingness to pay for housing is...

This note introduces a model of contests with random noise and a shared prize that combines features of Tullock (1980) and Lazear and Rosen (1981). Similar to results in Lazear and Rosen, as the level of noise decreases the equilibrium effort rises. As the noise variance approaches zero, the...

Much research sponsored by the Department of Agriculture's Food and Nutrition Service (FNS) has evaluated the effects of the Food Stamp Program (FSP) and other food and nutrition programs on outcomes of interest (e.g., dietary intake or food expenditures). Of course, the problem of...

We propose a model for studying the dynamics of economic structures. The model is based on qualitative information regarding structural dynamics, in particular, (a) the information on the geometrical properties of trajectories (and their domains) which are studied in structural change theory and...

Resumo: Este trabalho tem por objetivo discutir uma importante questão da teoria neoclássica do meio ambiente, a valoração monetária ambiental. Busca-se analisá-la de maneira crítica desde seus alicerces, mostrando problemas conceituais tanto nos termos da boa teoria neoclássica como...

Smart metering allows electricity utilities to provide consumers with better information on their energy usage and to apply time of use tariffs. These measures have been shown to reduce electricity consumption and induce time-shifting of demand. Less is known about how they affect residential...