This paper argues that a risk averse of workers after-tax reservation wage the difference between her reservation wage and the tax needed to fund the unemployment insurance system when liquidity constraint binds exists and it is unique. The optimality of unemployment insurance based on the responsiveness of reservation wage to unemployment benefit shows the disincentive effect, i.e. higher unem...

this paper argues that a risk averse of workers after-tax reservation wage the difference between her reservation wage and the tax needed to fund the unemployment insurance system when liquidity constraint binds exists and it is unique. the optimality of unemployment insurance based on the responsiveness of reservation wage to unemployment benefit shows the disincentive effect, i.e. higher unem...

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We propose a model of price formation in Double Auction markets which employs the strong simplifying assumption that agents neglect strategic feedback effects and regard themselves as playing a Game against Nature. Agents otherwise are strict expected utihty maximizers employing Bayesian updating procedures. We prove the optimality of simple (‘aggressive reservation price’) strategies in our ge...

This paper studies resource reservation mechanisms that can be incorporated into distributed multi{path Quality{of{Service (QoS) routing algorithms. Three resource reservation schemes, the forward reservation scheme, the backward reservation scheme and the hybrid reservation scheme, are investigated. Protocols that combine these resource reservation schemes with a ticket{based distributed QoS r...

The prevailing labor market models assume that minimum wages do not affect the labor supply schedule. We challenge this view in this paper by showing experimentally that minimum wages have significant and lasting effects on subjects’ reservation wages. The temporary introduction of a minimum wage leads to a rise in subjects’ reservation wages which persists even after the minimum wage has been ...

This paper studies resource reservation mechanisms that can be incorporated into distributed multi–path Quality– of–Service (QoS) routing algorithms. Three resource reservation schemes, the forward reservation scheme, the backward reservation scheme and the hybrid reservation scheme, are investigated. Simulations are carried out to compare the performance of the protocols and to study the impac...

Status of This Memo This document specifies an Internet standards track protocol for the Internet community, and requests discussion and suggestions for improvements. Please refer to the current edition of the "Internet Official Protocol Standards" (STD 1) for the standardization state and status of this protocol. Distribution of this memo is unlimited. Abstract This document proposes an extens...