This paper proposes a model of a cruising taxicab industry under laissez faire pricing and free entry, and compares it with alternative regimes including collusive fare setting, collusive restrictions on entry, or both. In the model, under laissez faire, prices are determined by Nash bargaining with complete information and lie above marginal costs. Under laissez faire pricing and free entry th...

Laissez-faire leadership has received much less attention than have the 3 transactional leadership dimensions of the Multifactor Leadership Questionnaire (MLQ). However, laissez-faire leadership has shown strong negative relationships with various leadership criteria, and the absence of leadership (laissez-faire leadership) may be just as important as is the presence of other types of leadershi...

Consider two principles for social evaluation. The first, ‘laissez-faire’, says that mean-preserving redistribution away from laissez-faire incomes should be regarded as a social worsening. This principle captures a key aspect of liberal political philosophy. The second, weak Pareto, states that an increase in each individual’s disposable income should be regarded as a social improvement. We sh...

Abstract Consider two principles for social evaluation. The first, “laissez-faire”, says that mean-preserving redistribution away from laissez-faire incomes should be regarded as a worsening. This principle captures key aspect of libertarian political philosophy. second, weak Pareto, states an increase in the disposable income each individual improvement. We show combination implies total ought...

This article focuses on the empirical effects of cognitive differentiation and persuasive skills on transformational, transaction, and laissez-faire leadership. Subjects (N = 294) completed measures of independent and dependent variables. Findings confirmed prior findings, however findings some reflected differences. Cognitive differentiation was positively related to transformation leadership ...

The question we ask is: within the set of a three-period-lived OLG economies with a stochastic endowment process, a stochastic dividend process, and sequentially incomplete complete markets, under what set of conditions may a set of government transfers dynamically Pareto dominate the laissez faire equilibrium? We start by characterizing perfect risk sharing and find that it implies a strongly ...

This study provided a comprehensive examination of the full range of transformational, transactional, and laissez-faire leadership. Results (based on 626 correlations from 87 sources) revealed an overall validity of .44 for transformational leadership, and this validity generalized over longitudinal and multisource designs. Contingent reward (.39) and laissez-faire (-.37) leadership had the nex...