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Now showing items 631-640 of 643
Products Liability, Signaling and Disclosure
(Vanderbilt University, 2006)
In this paper we examine the behavior of a firm that produces a product with a privately-observed safety attribute; that is, consumers cannot observe directly the product¬πs safety. The firm may, at a cost, disclose its ...
On Indeterminacy in Two Sector Models with Factor Market Distortions: The Importance of VIPIRS
(Vanderbilt University, 2006)
Previous literature has shown that local indeterminacy and local instability can arise in two-sector models when factor market distortions create a divergence between capital intensity ranking of the sectors on a physical ...
Determinants of Slave Prices: Louisiana, 1725 to 1820
(Vanderbilt University, 2006)
We utilize a previously untapped data source, Gwendolyn Hall (1999), to examine the market for slaves in Louisiana, both in New Orleans and outside of New Orleans. We are able to study the process of price determination ...
Tax Competition Reconsidered
(Vanderbilt University, 2006)
In a classic model of tax competition, we show that the level of public good provision and taxation in a decentralized equilibrium can be efficient or inefficient with either too much, or too little public good provision. ...
The Structure and Performance of the World Market in a Cobb-Douglas Example
(Vanderbilt University, 2006)
In an international trading economy where countries set tariffs strategically, modeled using a Cobb-Douglas example, this paper studies the relationship between the structure and the performance of the world market. Using ...
Hotelling Was Right About Snob/Congestion Goods (Asymptotically)
(Vanderbilt University, 2006)
We add congestion/snobbery to the Hotelling model of spatial competition. For any firm locations on opposite sides of the midpoint, a pure strategy price equilibrium exists and is unique if congestion costs are strong ...
International Seigniorage Payments
(Vanderbilt University, 2006)
What are the "liquidity services" provided by ìover-pricedî assets? How do international seigniorage payments affect the choice of monetary policies? Does a country gain when other hold its ìover-pricedî ...
Cournot Competition
(Vanderbilt University, 2006)
Cournot's 1838 model of strategic interaction between competing firms has become the primary workhorse for the analysis of imperfect competition, and shows up in a variety of fields, notably industrial organization and ...
The GATT and Gradualism
(Vanderbilt University, 2006)
This paper shows how the institutional rules imposed on its signatories by the GATT created a strategic incentive for countries to liberalize gradually. Trade liberalization must be gradual, and free trade can never be ...
Dominant Strategy Implementation with a Convex Product Space of Valuations
(Vanderbilt University, 2011)
A necessary and sufficient condition for dominant strategy implementability when preferences are quasilinear is that, for any individual i and any choice of the types of the other individuals, all k-cycles in i's allocation ...