We study the political economy of social insurance in a world where individuals di¤er in both income and risk. Social insurance is ...nanced through distortionary taxation and redistributes across income and risk. Individuals vote on social insurance which they can complement with insurance bought on the private market. Private insurance is actuarially fair but su¤ers from adverse selection whi...

This paper provides conditions under which the inequality constraints generated by either single agent optimizing behavior, or by the Nash equilibria of multiple agent problems, can be used as a basis for estimation and inference. We also add to the econometric literature on inference in models defined by inequality constraints by providing a new specification test and methods of inference for ...

The literature on educational standards suggests that an increase in graduation requirements heightens inequality, since achievement rises only for the best students. The paper derives a different conclusion based on a model featuring workers with heterogeneous abilities. Higher educational standards, while increasing inequality, can increase the earnings of both the most able and the least abl...

The paper develops a static three sector competitive general equilibrium model of a small open economy in which skilled labour is mobile between a traded good sector and a nontraded good sector andunskilled labour is specific to another traded good sector. The capital is perfectly mobile among all these three sectors. We examine the effects of change in different factor endowments and of global...

Fan’s minimax inequality is extended to the context of metric spaces with global nonpositive curvature. As a consequence, a much more general result on the existence of a Nash equilibrium is obtained. © 2009 Elsevier Ltd. All rights reserved.

We study personalized price competition with costly advertising among n quality-cost differentiated firms. Strategies involve mixing over both prices and whether to advertise. In equilibrium, only the top two firms advertise, earning “Bertrand-like” profits. Social efficiency is U-shaped in the ad cost, with losses due to excessive advertising and sales by the “wrong” firm. Quality or cost impr...

The paper is concerned with the analysis of a new class of overlapping domain problems for elastic bodies having cracks. Inequality type boundary conditions are imposed on the crack faces. We prove an existence of invariant integrals and analyze the asymptotic behavior of the solution. It is shown that the limit problem describes an equilibrium state for the elastic body with a thin inclusion.

The existing brain drain literature has found various mechanisms through which the high-skilled South-to-North migration affects developing economies. However, some of the newfound effects remain disputable due to limited evidence. This paper aims to provide suggestive guidelines for future research by identifying the mechanisms that can generate larger economic impacts at the aggregate. The an...

We describe GRUE, an architecture for game agents. GRUE facilitates the development of flexible agents capable of balancing competing goals and responding appropriately to their environment. We briefly describe GRUE’s representation of the agent’s environment and sketch the algorithm used to select between competing goals. We present some preliminary results from an evaluation of GRUE in a Tile...

This Article is brought to you for free and open access by TU Law Digital Commons. It has been accepted for inclusion in Tulsa Law Review by an authorized editor of TU Law Digital Commons. For more information, please contact [email protected]. Recommended Citation Gareth Davies, Framing the Social, Political, and Environmental Risks and Benefits of Geoengineering: Balancing the Hard-to-Im...