infonet-economy

We analyse the stability properties of mixed equilibria in 2×2 asymmetric games under evolutionary dynamics. With the standard replicator dynamics these equilibria are stable but not asymptotically stable. We modified the replicator dynamics by introducing players of two types: myopies — like in the standard replicator dynamics — and best
responders. The behaviour of the latter…

The paper presents an empirical analysis of a model of endogenous growth and innovation with unequal incomes and hierarchical consumer demand. The theoretical model predicts a positive impact of income inequality on product diversity. The impact of inequality on per-capita growth may be positive or negative depending upon the assumptions about productivity growth, where the standard…

Comments on the article `How US Antirust Can Go Astray: The Brand Name Prescription Drug Litigation,' by F.M. Scherer. Discussion of the issue of patent protection; Uniform monopoly price; Summary of price differentiation between groups of consumers.

We consider a regulator's choice between environmentally motivated emissions taxes and output taxes. We investigate how the optimal instrument depends on the monitoring cost function, the firm's technology, and on social preferences regarding output and environmental quality. Pure emissions taxes are usually not optimal with monitoring costs. Pure output taxes are optimal…

This paper proposes the following incentive scheme for the private provision of public goods: government should reward and penalize deviations from the mean contribution by an appropriate factor. This makes efficient contribution individually rational even if individuals see through the government budget constraint.

This article contributes to the ongoing debate on native wage impacts of immigration. I propose a mobile-fixed factor distinction as a framework in which to think about the differential impact of immigration on various labor market groups. Skilled workers are treated as a fixed factor of production since the strong reliance on skill certification in Germany inhibits mobility and…

A new approach for modeling under-reported Poisson counts is developed. The parameters of the model are estimated by Markov Chain Monte Carlo simulation. An application to workers absenteeism data from the German Socio-Economic Panel illustrates the fruitfulness of the approach. Worker absenteeism and the level of pay are unrelated, but absence rates increase with firm size.