| 1. |
- Puu, Tönu, 1936-
(författare)
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The chaotic duopolists revisited
- 1998
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Ingår i: Journal of Economic Behavior and Organization. - 0167-2681 .- 1879-1751. ; 33:3-4, s. 385-394
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Tidskriftsartikel (övrigt vetenskapligt/konstnärligt)abstract
- The adjustment process of three oligopolists is studied, under Cournot and Stackelberg action. It is demonstrated that with an iso-elastic demand function and constant marginal costs, the system can result in periodic or in chaotic behaviour. In particular, the case with two identical and one different oligopolists is focused, which turns into a virtual duopoly, though displaying a wider set of bifurcations than can occur in genuine duopoly.
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| 2. |
- Aronsson, Thomas, et al.
(författare)
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Positional preferences in time and space: Optimal income taxation with dynamic social comparisons
- 2014
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Ingår i: Journal of Economic Behavior & Organization. - : Elsevier BV. - 0167-2681 .- 1879-1751. ; 101, s. 1-23
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Tidskriftsartikel (refereegranskat)abstract
- This paper concerns optimal redistributive non-linear income taxation in an OLG model, where people care about their own consumption relative to (i) other people's current consumption, (ii) own past consumption, and (iii) other people's past consumption. We show that both (i) and (iii) affect the marginal income tax structure whereas (ii) does not. We also derive conditions under which atemporal and intertemporal consumption comparisons give rise to exactly the same tax policy responses. On the basis of the available empirical estimates, comparisons with other people's current and past consumption tend to substantially increase the optimal marginal labor income tax rates. Yet, such comparisons may either increase or decrease the optimal marginal capital income tax rates. (C) 2014 The Authors. Published by Elsevier B.V. All rights reserved. EL AB, 1990, AMERICAN ECONOMIC REVIEW102 ANNUAL MEETING OF THE AMERICAN ECONOMIC
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| 3. |
- Aronsson, Thomas, et al.
(författare)
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Relative consumption of housing : marginal saving subsidies and income taxes as a second-best policy?
- 2015
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Ingår i: Journal of Economic Behavior and Organization. - : Elsevier. - 0167-2681 .- 1879-1751. ; 116, s. 439-450
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Tidskriftsartikel (refereegranskat)abstract
- This paper analyzes whether marginal taxation of labor and capital income are useful second best instruments for internalizing the externalities caused by conspicuous housing consumption, when the government is unable to implement a first best corrective tax on housing wealth. The rationale for studying income taxation in this particular context is that first best taxes on housing wealth may be infeasible (at least in a shorter time perspective), while income taxes indirectly affect both the level and composition of accumulated wealth. We show that a suboptimally low tax on housing wealth provides an incentive for the government to subsidize financial saving and tax labor income at the margin.
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| 4. |
- Aronsson, Thomas, 1963-, et al.
(författare)
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Tax policy and present-biased preferences : paternalism under international capital mobility
- 2014
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Ingår i: Journal of Economic Behavior and Organization. - : Elsevier. - 0167-2681 .- 1879-1751. ; 106:October, s. 298-316
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Tidskriftsartikel (refereegranskat)abstract
- This paper deals with tax-policy responses to quasi-hyperbolic discounting. Earlier research on optimal paternalism typically abstracts from capital mobility. If capital is mobile between countries, it may no longer be possible for national governments to control domestic savings via capital taxation (as in a closed economy). In this paper, we take a broad perspective on public policy responses to self-control problems by showing how these responses vary (i) between closed and open economies, (ii) between small open and large open economies, and (iii) depending on whether or not both source based and residence based capital taxes can be used.
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| 5. |
- Arvaniti, Maria, et al.
(författare)
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Temptation in consumption and optimal taxation
- 2023
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Ingår i: Journal of Economic Behavior and Organization. - : Elsevier. - 0167-2681 .- 1879-1751. ; 205, s. 687-707
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Tidskriftsartikel (refereegranskat)abstract
- This article aims to integrate temptation preferences into the theory of optimal taxation with heterogenous agents and asymmetric information. Consumers are tempted to over-consume a commodity which may lead to an over-supply of labor. Resisting this temptation implies a utility cost and any policy that reduces this cost is welfare improving. We uncover novel channels for government intervention and the interaction between the welfare improving and redistributive roles of public policy. We also identify a commitment mechanism that works through the endogenous labor choice and affects the design and effectiveness of the optimal tax policy.
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| 6. |
- Arvaniti, Maria, et al.
(författare)
-
Time-consistent renewable resource management with present bias and regime shifts
- 2023
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Ingår i: Journal of Economic Behavior and Organization. - : Elsevier. - 0167-2681 .- 1879-1751. ; 207, s. 479-495
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Tidskriftsartikel (refereegranskat)abstract
- We investigate the extraction plan of present-biased decision makers managing a renew-able resource stock whose growth is uncertain and which could undergo a rapid and sig-nificant change when stock falls below a threshold. We show that the Markov-Nash equi-librium extraction policy is unique, time consistent, and increasing in resource stock. An increase in the threshold leads to increased resource extraction, rather than the precau-tionary reduction in extraction often observed with exponential discounting. An increase in the degree of present bias also leads to an increase in resource extraction. Our analy-sis suggests that accounting for and appropriately dealing with resource managers' present bias may be important to understand resource use sustainability.
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| 7. |
- Berge, Lars Ivar Oppedal, et al.
(författare)
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Gender composition and group dynamics : Evidence from a laboratory experiment with microfinance clients
- 2016
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Ingår i: Journal of Economic Behavior and Organization. - : Elsevier BV. - 0167-2681 .- 1879-1751. ; 131, s. 1-20
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Tidskriftsartikel (refereegranskat)abstract
- We investigate the effect of gender composition on the group dynamics of microfinance clients in Tanzania using a laboratory experiment. We focus on three dimensions: (i) the ability to collaborate on problem-solving, (ii) joint decision-making in risk taking, and (iii) the willingness to cooperate in a public-goods game. Our main finding is that female groups are better at collaborating in problem-solving than male and mixed groups, and are also more willing to take risks. However, in the public-goods game we find no robust evidence of female groups contributing more than male and mixed groups. Our findings suggest that one reason why female loan groups often have higher repayment rates than male and mixed groups may be that female groups are more able to collaborate and find common solutions to common challenges.
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| 8. |
- Janssen, Aljoscha, et al.
(författare)
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The importance of the first generic substitution : Evidence from Sweden
- 2023
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Ingår i: Journal of Economic Behavior and Organization. - : Elsevier. - 0167-2681 .- 1879-1751. ; 213, s. 1-25
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Tidskriftsartikel (refereegranskat)abstract
- We analyze changes in the willingness to substitute from prescribed pharmaceuticals to more affordable generic equivalents in response to the first experience with a substitution. Using Swedish individual-level data of prescribed and dispensed pharmaceuticals, we employ a dynamic event study and an instrumental variable approach to show that an initial substitution reduces the probability of opposing subsequent substitutions by 39 percentage points. We recommend that policy-makers target patients with a history of opposed substitution and offer additional discounts to promote substitution as long-term savings outweigh one-time costs.
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| 9. |
- Puu, Tönu, 1936-, et al.
(författare)
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A Hicksian multiplier-accelerator model with floor determined by capital stock
- 2005
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Ingår i: Journal of Economic Behavior and Organization. - : Elsevier BV. - 0167-2681 .- 1879-1751. ; 56:3, s. 331-348
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Tidskriftsartikel (refereegranskat)abstract
- This article reconsiders the Hicksian multiplier-accelerator model with the “floor” related to the depreciation on actual capital stock. Through the introduction of the capital variable, a growth trend is created endogenously by the model itself, along with growth rate oscillations around it. The “ceiling” can be dispensed with altogether. As everything is growing in such a model, a variable transformation is introduced to focus relative dynamics of the income growth rate and the actual capital output ratio.
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| 10. |
- Puu, Tönu, 1936-
(författare)
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On the economics of increasing complexity : With some special focus on culture
- 2010
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Ingår i: Journal of Economic Behavior and Organization. - : Elsevier. - 0167-2681 .- 1879-1751. ; 75:1, s. 59-68
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Tidskriftsartikel (refereegranskat)abstract
- This contribution seeks to find a setting in which evolution in terms of changing structure, rather than growth within a given structure, can be modelled. In particular the evolution of increasing complexity is focused. The setting chosen uses Lancasterian property space as an invariant in which the changing, emerging, and disappearing actual implements are property bundles. The aim is to produce a development tree like the Darwinian, and the tool used for modelling the branching bifurcations is catastrophe theory.
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