Wealth Redistribution and Mutual Aid: Comparison using Equivalent/Nonequivalent Exchange Models of Econophysics

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1. Apparenté Pas pertinent

   The Relationship between Consumer Theories with and without Utility Maximization

   Yuhki Hosoya · 2024 · Économie théorique · Résumé IA disponible

   Résumé scientifique

   To study the assumption that the utility maximization hypothesis implicitly adds to consumer theory, we consider a mathematical representation of pre-marginal revolution consumer theory based on subjective exchange ratios. We introduce two axioms on subjective exchange ratio, and show that both axioms hold if and only if consumer behavior is consistent with the utility maximization hypothesis. Moreover, we express the process for a consumer to find the transaction stopping point in terms of differential equations, and prove that the conditions for its stability are equal to the two axioms introduced in the above argument. Therefore, the consumer can find his/her transaction stopping point if…

2. Apparenté Pas pertinent

   The Core of an Economy with an Endogenous Social Division of Labour

   Robert P. Gilles · 2018 · Économie théorique · Pas encore résumé

   Résumé scientifique

   This paper considers the core of a competitive market economy with an endogenous social division of labour. The theory is founded on the notion of a "consumer-producer", who consumes as well as produces commodities. First, we show that the Core of such an economy with an endogenous social division of labour can be founded on deviations of coalitions of arbitrary size, extending the seminal insights of Vind and Schmeidler for pure exchange economies. Furthermore, we establish the equivalence between the Core and the set of competitive equilibria for continuum economies with an endogenous social division of labour. Our analysis also concludes that self-organisation in a social division of labo…

3. Apparenté Pas pertinent

   Spinoza, Leibniz, Kant, and Weyl

   Michael H. Freedman · 2022 · Économie théorique · Pas encore résumé

   Résumé scientifique

   The paper describes a funding mechanism called Quadratic Finance (QF) and deploys a bit of calculus to show that within a very clean and simple linear model QF maximizes social utility. They differentiate the social utility function. The mathematical content of this note is that by taking one further derivative, one may also deduce that QF is the unique solution.

4. Apparenté Pas pertinent

   The effects of incentives, social norms, and employees' values on work performance

   Michael Roos, Jessica Reale, Frederik Banning · 2021 · Économie théorique · Résumé IA disponible

   Résumé scientifique

   This agent-based model contributes to a theory of corporate culture in which company performance and employees' behaviour result from the interaction between financial incentives, motivational factors and endogenous social norms. Employees' personal values are the main drivers of behaviour. They shape agents' decisions about how much of their working time to devote to individual tasks, cooperative, and shirking activities. The model incorporates two aspects of the management style, analysed both in isolation and combination: (i) monitoring efforts affecting intrinsic motivation, i.e. the firm is either trusting or controlling, and (ii) remuneration schemes affecting extrinsic motivation, i.e…

5. Apparenté Pas pertinent

   Platform-Mediated Competition

   Quitzé Valenzuela-Stookey · 2020 · Économie théorique · Résumé IA disponible

   Résumé scientifique

   Cross-group externalities and network effects in two-sided platform markets shape market structure and competition policy, and are the subject of extensive study. Less understood are the within-group externalities that arise when the platform designs many-to-many matchings: the value to agent $i$ of matching with agent $j$ may depend on the set of agents with which $j$ is matched. These effects are present in a wide range of settings in which firms compete for individuals' custom or attention. I characterize platform-optimal matchings in a general model of many-to-many matching with within-group externalities. I prove a set of comparative statics results for optimal matchings, and show how t…

6. Apparenté Pas pertinent

   Optimal policy design for the sugar tax

   Kelly Geyskens, Alexander Grigoriev, Niels Holtrop et al. · 2018 · Économie théorique · Résumé IA disponible

   Résumé scientifique

   Healthy nutrition promotions and regulations have long been regarded as a tool for increasing social welfare. One of the avenues taken in the past decade is sugar consumption regulation by introducing a sugar tax. Such a tax increases the price of extensive sugar containment in products such as soft drinks. In this article we consider a typical problem of optimal regulatory policy design, where the task is to determine the sugar tax rate maximizing the social welfare. We model the problem as a sequential game represented by the three-level mathematical program. On the upper level, the government decides upon the tax rate. On the middle level, producers decide on the product pricing. On the l…

7. Apparenté Pas pertinent

   Covert learning and disclosure

   Matteo Escudé · 2023 · Économie théorique · Résumé IA disponible

   Résumé scientifique

   I study a model of information acquisition and transmission in which the sender's ability to misreport her findings is limited. In equilibrium, the sender only influences the receiver by choosing to remain selectively ignorant, rather than by deceiving her about the discoveries. Although deception does not occur, I highlight how deception possibilities determine what information the sender chooses to acquire and transmit. I then turn to comparative statics, characterizing in which sense the sender benefits from her claims being more verifiable, showing this is akin to increasing her commitment power. Finally, I characterize sender- and receiver-optimal falsification environments.

8. Apparenté Pas pertinent

   From Doubt to Devotion: Trials and Learning-Based Pricing

   Tan Gan, Nicholas Wu · 2023 · Économie théorique · Résumé IA disponible

   Résumé scientifique

   An informed seller designs a dynamic mechanism to sell an experience good. The seller has partial information about the product match, which affects the buyer's private consumption experience. We characterize equilibrium mechanisms of this dynamic informed principal problem. The belief gap between the informed seller and the uninformed buyer, coupled with the buyer's learning, gives rise to mechanisms that provide the skeptical buyer with limited access to the product and an option to upgrade if the buyer is swayed by a good experience. Depending on the seller's screening technology, this takes the form of free/discounted trials or tiered pricing, which are prevalent in digital markets. In c…