This paper revisits the influential “Leviathan” hypothesis, which posits that tax competition limits the growth of government spending in decentralized countries. It uses panel data to examine the effect of fiscal decentralization over time within countries, attempting to distinguish between decentralization that is funded by intergovernmental transfers and local taxation. First, it sets out a ...

This paper explores leadership within hierarchical organizations. For each hierarchy, I consider a dynamic signaling game in which each player observes only the actions of his direct superiors before choosing his action. At the top of the hierarchy are the leaders, who learn the state from nature. The hierarchy controls the flow of information and the timing of the game, and determines the equi...

Does the current economic crisis require the deep cuts in public spending announced in the June 2010 emergency budget, with potential implications for public health? The arguments for and against such cuts in response to economic recession are complex, but if public health professionals are to engage in debates about future public spending, they should be informed by relevant evidence. In this ...

The purpose of this study was to determine the effect Zakat, Infaq and Productive Sadaqah on growth new enterpreneur mustahiq welfare in Medan City. This belongs explanatory or confirmatory research category, which is get an explanation relationships between variables. object be investigated / analyzed variable productive Islamic charity (ZIS) with variables LAZISMU Medan. a Qualitative researc...

This paper examines hedge fund portfolio selection approaches in isolation and the context of an investor’s overall portfolio. Characteristics-based portfolios that minimize risk delivers superior out-of-sample performance. For instance, a minimum variance tilting toward small funds with high alpha strategy distinctiveness index low systematic annualized Sharpe ratio 2.03 maximum drawdown 5.20%...

This paper examines health care reform in urban and rural China. Before health care reform, Chinese health service facilities were run entirely by the state and basically they performed a social welfare function. This health care system greatly improved the population health conditions but many problems started to emerge in 1980s when the economic reform started. Since then, the government has ...

Primarily due to environmental concerns and legislative mandates, the disposition of end-of-life (EOL) electronics products has attracted much attention. Advanced recycling fees (ARFs) and government subsidies may play important roles in encouraging or curtailing the flows of recycled items. We present a Stackelberg-type model to determine ARFs and socially optimal subsidy fees in decentralized...

We show that the class of social welfare functions that satisfy a weak independence condition identi…ed by Baigent (1987) is fairly rich and freed of a power concentration on a single individual. This positive result prevails when a weak pareto condition is imposed. Hence, under weak independence, both the Arrow (1951) and Wilson (1972) theorems vanish. We thank Goksel Asan, Irem Bozbay, Tugce ...

Australians could be willing to pay from $878m to $2b per year for Indigenous people to provide environmental services. This is up to 50 times the amount currently invested by government. This result was derived from a nationwide survey that included a choice experiment in which 70% of the 927 respondents were willing to contribute to a conservation fund that directly pays Indigenous people to ...

We consider a situation where groups negotiate over the allocation of a surplus (which is used to fund group specific goods). Each group is composed of agents who have differing valuations for public goods. Members choose a representative to take decisions on their behalf. Specifically, representatives can decide to enter either a (cooperative) negotiation protocol or a conflict to appropriate ...