منابع مشابه
Public versus private risk sharing
Can public income insurance through progressive income taxation improve the allocation of risk in an economy where private risk sharing is incomplete? The answer depends crucially on the fundamental friction that limits private risk sharing in the first place. If risk sharing is limited because insurance markets are missing for model-exogenous reasons (as in Bewley, 1986) publicly provided risk...
متن کاملTheoretical and Computational Appendix to: Public versus Private Risk Sharing
In this appendix we provide more extensive proofs of results in the main paper. In particular we explicitly prove results that are direct adaptations of arguments from Atkeson and Lucas (1995) and hence omitted in the main paper We also provide a detailed discussion of the algorithm used in the quantitative exercises of the main papers. 1 Proofs1 1.1 Optimal Policies Induce E¢ cient Allocations...
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Blockchain-based solutions are one of the major areas of research for institutions, particularly in the financial and the government sectors. There is little disagreement that backbone technologies currently used in these sectors are outdated and need an overhaul to conform to the needs of the times. Distributed or decentralized ledgers in the form of blockchains are one of themost discussed po...
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We study the structure of markets when traders are given the opportunity to create their own market, as on the internet. On the internet, public exchanges have in many cases been replaced by private exchanges. We use experiments to investigate possible reasons for the failure of public exchanges. In our experimental markets, when traders make an offer, they decide whom to inform about the offer...
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We introduce a new public quantum interactive proof system, namely qAM, by augmenting the verifier with a fixed-size quantum register in Arthur-Merlin game. We focus on spacebounded verifiers, and compare our new public system with private-coin interactive proof (IP) system in the same space bounds. We show that qAM systems not only can simulate all known space-bounded private-coin protocols, b...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2011
ISSN: 0022-0531
DOI: 10.1016/j.jet.2010.08.013