کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5095278 1376280 2007 24 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Coordinating development: Can income-based incentive schemes eliminate Pareto inferior equilibria?
کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Coordinating development: Can income-based incentive schemes eliminate Pareto inferior equilibria?
چکیده انگلیسی
Individuals' inability to coordinate investment may significantly constrain economic development. In this paper we study a simple investment game characterized by multiple equilibria and ask whether an income-based incentive scheme can uniquely implement the high-investment outcome. A general property of this game is the presence of a crossover-investment point at which an individual's incomes from investment and non-investment are equal. We show that arbitrarily small errors in the government's knowledge of this crossover point can prevent unique implementation of the high-investment outcome. We conclude that informational requirements are likely to severely limit a government's ability to use income-based incentive schemes as a coordination device.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Development Economics - Volume 83, Issue 2, July 2007, Pages 368-391
نویسندگان
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