In many countries, taxes on businesses are less progressive than labor income taxes. This paper provides a justification for this pattern based on adverse selection that entrepreneurs face in credit markets. Individuals choose between becoming entrepreneurs or workers and differ in their skill in both of these occupations. I find that endogenous cross-subsidization in the credit market equilibr...

We consider a model of decentralized bargaining among three parties. Parties meet one-on-one after being randomly matched, and can sell or buy votes to one another. The party with a majority of the votes can decide to implement its preferred policy or extend negotiations to capture additional rents. We provide necessary and sufficient conditions for the existence of an equilibrium in which a pa...

Alessandro Pitanti,1, 2 Johannes M. Fink,1 Amir H. Safavi-Naeini,1 Chan U. Lei,1 Jeff T. Hill,1 Alessandro Tredicucci,2, 3 and Oskar Painter1, ∗ 1Institute for Quantum Information and Matter and Thomas J. Watson, Sr., Laboratory of Applied Physics, California Institute of Technology, Pasadena, CA 91125, USA 2NEST and Istituto Nanoscienze CNR, Scuola Normale Superiore, Piazza San Silvestro 12, 5...

Alessandro Chessa, H. Eugene Stanley, Alessandro Vespignani, and Stefano Zapperi Dipartimento di Fisica and Unitá INFM, Universitá di Cagliari, Via Ospedale 72, 09124 Cagliari, Italy Center for Polymer Studies and Department of Physics, Boston University, Boston, Massachusetts 02215 The Abdus Salam International Centre for Theoretical Physics (ICTP), P.O. Box 586, 34100 Trieste, Italy PMMH-ESPC...

Neonatal sepsis caused by fungi (mainly Candida spp.) causes a huge burden of morbidity and mortality, poor late outcomes, as well as increased hospital costs. Invasive Candida Infections (ICI) include bloodstream, urine, cerebrospinal, peritoneal infections, infections starting from burns and wounds, or from any other usually sterile site. Premature neonates are particularly prone to this kind...