Showing papers in "Journal of Public Economics in 1984"

TL;DR: In this paper, the authors considered a class of principal-agent problems with the following features: there is adverse selection because the principal ignores the value of one parameter of the agent's true characteristics, and the optimization is limited to the class of non-stochastic mechanisms.

TL;DR: In this paper, the authors considered the Nash equilibria to a game where a discrete public good is to be provided, and they found that the Nash equilibrium with a refund is a superset of those without a refund.

TL;DR: In this article, the marginal cost in terms of welfare of raising an extra rupee from the i th good is defined, and the directions of tax reform for a number of specific social welfare functions and for Pareto improvements are presented.

TL;DR: In this article, conditions under which equilibrium exists in a model where freely mobile households choose community of residence and amount of housing consumption, and vote on the level of public goods provision, and discuss the implications of the conditions and their role in assuring existence of equilibrium.

TL;DR: In this paper, a simple and general means of levying a business tax that is neutral in the sense that it does not affect the firm's decisions at the margin is discussed.

TL;DR: In this article, the authors model the decision of how a private individual decides when to take the initiative and pay for the provision of a public good and demonstrate conditions in which the first best is attained in the limit as the population size approaches infinity.

TL;DR: In this article, the authors consider a model in which the standard tobit specification [Tobin (1958)] is supplemented by the operation of a simple binary censor, which can serve as a representation of several types of misreporting.

TL;DR: In this article, the authors examined the use of fine and imprisonment to deter individuals from engaging in harmful activities and found that when used alone and individuals are identical, the optimal fine and probability of apprehension are such that there is some "underdeterrence" and when used together, it is desirable to use the fine to its maximum feasible extent before possibly supplementing it with an imprisonment term.

TL;DR: In this paper, the authors examined the major influences of an ally's demand for military expenditures and found that structural changes occured in these equations in the early 1970s, which is the predicted effect of the doctrine of flexible response, adopted by NATO during this time period.

TL;DR: This article used the tools of social-choice theory to provide an axiomatic formulation of the problem of social evaluations of alternatives involving different numbers of people, which yields a class of social criteria called critical-level generalized utilitarianism.

TL;DR: In this article, the authors examined the reservation wages reported by a large sample of unemployed individuals in the United States in May 1976 and found that the level of unemployment benefits relative to previous wages has a powerful effect on the individual's reservation wage.

TL;DR: In this paper, a model of tax structure developed in which the composition of revenues and the structure of specific taxes arise naturally as the result of self-interested political behavior is presented, where political agents choose tax structure so as to minimize the political costs associated with raising a budget of given size.

TL;DR: In this paper, the welfare effects of introducing small excise taxes to supplement the income tax are explored, taking as its point of departure a continuum of consumers economy in which an optimum income tax exists and is the only tax instrument in operation.

TL;DR: In this article, the degree of interdependence between the tax shifting and the tax evasion decisions is analyzed both in the case of a fixed and of a variable probability of being detected.

TL;DR: In this article, the authors explore the efficiency properties of a system of effluent fees in a mixed economy in which polluting agents take a variety of organizational forms: private monopoly, the managerial firm, regulated firms, and public bureaus.

TL;DR: The authors examined the evidence from such models concerning the effects of unemployment benefits on incentives to work in Britain and found no benefit effect when benefit receipt is assumed to follow a hypothetical pattern which is shown to be unrealistic and overgenerous.

TL;DR: In this article, a natural extension of the Dalton's principle of transfer for income redistribution is investigated, where the authors show that the social welfare of a socially desirable transfer with its inverse at uniformly higher levels of income will have positive social benefit.

TL;DR: In this paper, the effect of piecewise linear budget constraints created by grant formulas in which the subsidy rate is not constant over expenditures (e.g., closed-end grants) was investigated.

TL;DR: In this paper, the authors introduce nonzero conjectural variations into the model of equilibrium public goods provision, where each individual regards the behaviour of the rest of the community as independent of his own.

TL;DR: In this paper, the authors empirically test this assertion, employing a utility maximization choice framework and a two-stage empirical model involving modified least squares and probit maximum likelihood, and conclude that an increase in generosity and/or eligibility leniency of disability transfer programs has been a statistically significant, but quantitatively small, determinant of the decrease in labor force participation.

TL;DR: In this paper, it was shown that a realistic value for the elasticity of substitution between consumption and leisure (ϵ=0.5) leads to conclusions different from some of those drawn by Mirrlees (1971) and Atkinson (1973).

TL;DR: In this paper, a model of rental housing expenditure that explicitly incorporates moving transaction costs is proposed to evaluate the effects of proposed subsidy schemes and compared with estimated program effects based on experimental data.

TL;DR: In this paper, a method for revealing demand for public goods has been presented which seems capable of meeting the political demands of such mechanisms and was successfully tested on an actual public-good project provided by the Swedish government.

TL;DR: In this article, the authors suggest that allocating decisions would be better made by single individuals than by committees, due to the obvious diseconomies of multi-person decision-making, the possible absence of unique equilibria, the potential for intransitive rankings of alternatives and the implied arbitrariness of decisions noted by Arrow (1951), Black (1958) Buchanan and Tullock (1962), and Usher (1981).

TL;DR: In this article, a general specification for the stochastic structure of expenditure data is presented, and a procedure for estimating participant households' underlying consumption from their observed expenditures is developed and discussed.

TL;DR: In this article, the authors analyzed whether public health insurance can be justified on the grounds that it serves as an efficient tool to redistribute welfare, in a model where the social welfare function is a weighted average of individual expected utilities.

TL;DR: This article developed a theoretical model of firm behavior consistent with the maximization of shareholders' utility, and derived empirically testable implications of different theories of equity finance using data on firm earnings and previous investment and financial behavior, assessing whether firms treat new share issues as a more expensive source of finance than retentions.

TL;DR: In this paper, the authors exploit the information about the value of risk reduction that is provided by changing consumption patterns over time brought about by changes in available information about risks, which makes it possible to more reliably estimate the pure effects of risks on behavior and to generate unbiased distributions of value of life saving.

TL;DR: This article developed a model to explore the information processing function that jury deliberation and its analogues perform, and showed how the answer depends on the correlation among jurors' observations, the jurors' assessments of the relative importance of type I and type II errors compared with society's assessment of those errors, and differences in jurors' abilities.