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Pareto Improving Reforms in the Presence of Spillovers and Spillbacks 存在溢出效应和回溢效应的帕累托改进型改革
IF 1.1 4区 经济学
Journal of Public Economic Theory Pub Date : 2025-02-25 DOI: 10.1111/jpet.70018
Ourania Karakosta, Nikos Tsakiris, Nikolaos Vlassis
{"title":"Pareto Improving Reforms in the Presence of Spillovers and Spillbacks","authors":"Ourania Karakosta,&nbsp;Nikos Tsakiris,&nbsp;Nikolaos Vlassis","doi":"10.1111/jpet.70018","DOIUrl":"https://doi.org/10.1111/jpet.70018","url":null,"abstract":"<div>\u0000 \u0000 <p>In this paper, we contribute to the topical debate on the welfare effects of a centralized policy setting within the federal union in the presence of transboundary pollution externalities that affect production possibilities. It is shown that when the production of federal jurisdictions generates spillover effects, which in turn result in spillback effects, harmonization of their public policies towards the uniform optimal cooperative level does not ensure welfare improvement for the federation. We analyze and identify federal policies harmonizing reforms that deliver Pareto improvement in the presence of spillback in addition to spillover effects. These reforms are designed to neutralize all the spillback effects by maintaining the aggregate level of spillover effects constant while increasing the welfare of the federation. This result holds irrespective of the nature and sign of the spillover and spillback effects, as well as for both small and large open economies.</p>\u0000 </div>","PeriodicalId":47024,"journal":{"name":"Journal of Public Economic Theory","volume":"27 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2025-02-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143489645","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Role of Social Signaling and Ethnic Norms in Charitable Giving: A Field Experiment in Vietnam
IF 1.1 4区 经济学
Journal of Public Economic Theory Pub Date : 2025-02-18 DOI: 10.1111/jpet.70017
Quang Nguyen, Huong Trang Kim, Minh Trinh, Shing-Wan Chang
{"title":"The Role of Social Signaling and Ethnic Norms in Charitable Giving: A Field Experiment in Vietnam","authors":"Quang Nguyen,&nbsp;Huong Trang Kim,&nbsp;Minh Trinh,&nbsp;Shing-Wan Chang","doi":"10.1111/jpet.70017","DOIUrl":"https://doi.org/10.1111/jpet.70017","url":null,"abstract":"<div>\u0000 \u0000 <p>In this field experiment involving ethnic and income groups in Vietnam, we explore the role of social signaling—a construct encompassing both status-seeking and public recognition—in charitable giving. We find that individuals from the Hoa (Chinese) ethnicity and those in higher income brackets are more prone to engage in social signaling by donating more. Conversely, the Khmer, influenced by their ethnic norms, are less likely to use donations as a form of social signaling. Our findings align with a multifaceted theoretical model that integrates social signaling and ethnic norms to explain the complexities of charitable giving behavior. This study not only enriches our understanding of why people donate but also underscores the nuanced interplay of social signaling and cultural norms.</p>\u0000 </div>","PeriodicalId":47024,"journal":{"name":"Journal of Public Economic Theory","volume":"27 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2025-02-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143439242","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Contractual Requirements and Bidding Behavior in Public Procurement With Entry
IF 1.1 4区 经济学
Journal of Public Economic Theory Pub Date : 2025-02-18 DOI: 10.1111/jpet.70019
Samielle Drake, Fei Xu
{"title":"Contractual Requirements and Bidding Behavior in Public Procurement With Entry","authors":"Samielle Drake,&nbsp;Fei Xu","doi":"10.1111/jpet.70019","DOIUrl":"https://doi.org/10.1111/jpet.70019","url":null,"abstract":"<p>We combine theoretical and empirical analyses to investigate the impacts of contractual requirements on bidding behavior and competition in procurement auctions with endogenous entry. Our analysis demonstrates that contractual requirements affect expected payoffs, influencing the equilibrium number of bidders and their bids under zero-profit conditions. Specifically, in equilibrium, increased contractual requirements enhance competition by raising bidders' expected payoffs, while higher entry costs reduce competition. Overall, a rise in entry costs results in elevated equilibrium bids. Under certain conditions, an increase in contractual requirements raises equilibrium bids. Additionally, we emphasize the significance of enforceability in shaping bidding behavior and, thus, in policy implementation. Empirical evidence from public cleaning services procurement in Sweden supports the implications of our model.</p>","PeriodicalId":47024,"journal":{"name":"Journal of Public Economic Theory","volume":"27 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2025-02-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jpet.70019","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143439241","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Social Norms Drivers on Public Good Contributions
IF 1.1 4区 经济学
Journal of Public Economic Theory Pub Date : 2025-02-05 DOI: 10.1111/jpet.70015
Lionel Richefort, Pauline Pedehour
{"title":"Social Norms Drivers on Public Good Contributions","authors":"Lionel Richefort,&nbsp;Pauline Pedehour","doi":"10.1111/jpet.70015","DOIUrl":"https://doi.org/10.1111/jpet.70015","url":null,"abstract":"<div>\u0000 \u0000 <p>This article develops a model of public good provision with social norms determined by network relationships. Individuals' wealth allocation preferences are guided by the benefit they obtain from a private good and a public good, and the social value they receive when following their neighbors in their contribution to the public good. We find conditions under which (i) redistributions of wealth will increase total giving if the transfer goes to the less norm-conformist agent, (ii) an increase in tastes for conformity of the weak contributors will increase total giving, and (iii) the deletion of a link between two contributors will increase total giving. Subsequently, examples in very small networks allow us to discuss how these results can help policymakers encourage the voluntary provision of public good.</p>\u0000 </div>","PeriodicalId":47024,"journal":{"name":"Journal of Public Economic Theory","volume":"27 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2025-02-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143112148","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Persuasion in Networks With Strategic Substitutes
IF 1.1 4区 经济学
Journal of Public Economic Theory Pub Date : 2025-01-10 DOI: 10.1111/jpet.70014
Guopeng Li, Yang Sun
{"title":"Persuasion in Networks With Strategic Substitutes","authors":"Guopeng Li,&nbsp;Yang Sun","doi":"10.1111/jpet.70014","DOIUrl":"https://doi.org/10.1111/jpet.70014","url":null,"abstract":"<div>\u0000 \u0000 <p>We study Bayesian persuasion with local strategic substitutes in networks. A designer commits to a public signal to maximize total activity. Equilibria are characterized by the network's maximum <span></span><math>\u0000 <semantics>\u0000 <mrow>\u0000 \u0000 <mrow>\u0000 <mi>k</mi>\u0000 </mrow>\u0000 </mrow>\u0000 <annotation> $k$</annotation>\u0000 </semantics></math>-insulated sets for each realization. We solve the optimal information structure and characterize beneficial persuasion. While agents individually prefer higher states, the designer's payoff is non-monotonic in the posterior mean due to substitution effects. This provides a rationale for downwardplaying mechanisms: revealing low states truthfully and mixing signals when high. Moreover, for tree, nested split, and core-periphery networks, the designer strictly benefits if the prior mean insulated set size is less than the highest state set size.</p>\u0000 </div>","PeriodicalId":47024,"journal":{"name":"Journal of Public Economic Theory","volume":"27 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2025-01-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143114069","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How to Deal with Exchange Rate Risk in Infrastructure and Other Long-Lived Projects
IF 1.1 4区 经济学
Journal of Public Economic Theory Pub Date : 2025-01-07 DOI: 10.1111/jpet.70003
Luciano de Castro, Claudio Frischtak, Arthur Rodrigues
{"title":"How to Deal with Exchange Rate Risk in Infrastructure and Other Long-Lived Projects","authors":"Luciano de Castro,&nbsp;Claudio Frischtak,&nbsp;Arthur Rodrigues","doi":"10.1111/jpet.70003","DOIUrl":"https://doi.org/10.1111/jpet.70003","url":null,"abstract":"<p>Most developing economies rely on foreign capital to finance their infrastructure needs. These projects are usually structured as long-term (25–35 years) franchises that pay in local currency. If investors evaluate their returns in terms of foreign currency, exchange rate volatility introduces risk that may reduce the level of investment below what would be socially optimal. In this article, we propose a mechanism with very general features that hedges exchange rate fluctuation by adjusting the concession period. Such mechanism does not imply additional costs to the government and could be offered as a zero-cost option to lenders and investors exposed to currency fluctuations. We illustrate the general mechanism with three alternative specifications and use data from a 25-year highway franchise to simulate how they would play out in eight different emerging economies that exhibit diverse exchange rate trajectories. Results show relatively small length adjustments, and suggest the mechanism offers a powerful policy tool to cost-effectively attract vital foreign infrastructure investment for developing countries.</p>","PeriodicalId":47024,"journal":{"name":"Journal of Public Economic Theory","volume":"27 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2025-01-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jpet.70003","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143112806","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Deliberation and Voting: A Matter of Truth or Taste
IF 1.1 4区 经济学
Journal of Public Economic Theory Pub Date : 2025-01-06 DOI: 10.1111/jpet.70013
Masayuki Odora
{"title":"Deliberation and Voting: A Matter of Truth or Taste","authors":"Masayuki Odora","doi":"10.1111/jpet.70013","DOIUrl":"https://doi.org/10.1111/jpet.70013","url":null,"abstract":"<div>\u0000 \u0000 <p>This study examines the strategic communication that occurs before voting under various voting rules. A group of imperfectly informed voters communicate before casting their votes in binary elections. The voters have <i>partially conflicting interests</i>: there is a correct candidate in some states of the world, while in others, voters disagree, and ideologies matter. This study demonstrates that truthful communication is never an equilibrium under any voting rule when the size of the electorate is sufficiently large.</p>\u0000 </div>","PeriodicalId":47024,"journal":{"name":"Journal of Public Economic Theory","volume":"27 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2025-01-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143112548","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Complainer's Dilemma
IF 1.1 4区 经济学
Journal of Public Economic Theory Pub Date : 2024-12-23 DOI: 10.1111/jpet.70011
Greg Leo, Jennifer Pate
{"title":"Complainer's Dilemma","authors":"Greg Leo,&nbsp;Jennifer Pate","doi":"10.1111/jpet.70011","DOIUrl":"https://doi.org/10.1111/jpet.70011","url":null,"abstract":"<p>Technological innovations have made complaining easier. Often, when it is easy to complain, only problems that meet a high threshold of complaints are addressed. We present a novel model of the strategic environment facing complainers and demonstrate that the properties of the resulting games' equilibria justify the existence of high complaint thresholds. By setting the thresholds appropriately, an administrator can prevent complaints that are not worth addressing. Policies that minimize the cost of complaining while requiring a large threshold are universally more efficient for large constituencies. Our results regarding the equilibrium for large constituencies are facilitated by the application of the Lambert-W function, demonstrating how this tool can be employed to analyze games with a large number of players. We motivate the model using a rich data set of complaints from New York City.</p>","PeriodicalId":47024,"journal":{"name":"Journal of Public Economic Theory","volume":"27 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2024-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jpet.70011","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143118217","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Corrigendum: Heterogeneity, Impatience, and Dynamic Private Provision of a Discrete Public Good
IF 1.1 4区 经济学
Journal of Public Economic Theory Pub Date : 2024-12-23 DOI: 10.1111/jpet.70012
Jinping Zhang, Zhentao Zou
{"title":"Corrigendum: Heterogeneity, Impatience, and Dynamic Private Provision of a Discrete Public Good","authors":"Jinping Zhang,&nbsp;Zhentao Zou","doi":"10.1111/jpet.70012","DOIUrl":"https://doi.org/10.1111/jpet.70012","url":null,"abstract":"<div>\u0000 \u0000 <p>This corrigendum amends the main results in Bhattacharya et al., henceforth BTS. We show that the closed-form solution in Proposition 3 of BTS is incorrect, and the individual contributions are nonlinear (rather than linear) in the cumulative collective contribution. In addition, when the impatience differential is large enough, the patient individuals (rather than impatient individuals) reduce the contributions as the project progresses toward completion. Finally, the project is completed earlier (rather than later) as we increase the difference in impatience.</p>\u0000 </div>","PeriodicalId":47024,"journal":{"name":"Journal of Public Economic Theory","volume":"27 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2024-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143118213","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Norms and Efficiency in a Multi-Group Society: An Online Experiment 多群体社会中的规范与效率：在线实验
IF 1.1 4区 经济学
Journal of Public Economic Theory Pub Date : 2024-12-17 DOI: 10.1111/jpet.70010
Marco Catola, Simone D'Alessandro, Pietro Guarnieri, Veronica Pizziol
{"title":"Norms and Efficiency in a Multi-Group Society: An Online Experiment","authors":"Marco Catola,&nbsp;Simone D'Alessandro,&nbsp;Pietro Guarnieri,&nbsp;Veronica Pizziol","doi":"10.1111/jpet.70010","DOIUrl":"https://doi.org/10.1111/jpet.70010","url":null,"abstract":"<p>In this study, we measure personal normative beliefs, empirical expectations, and normative expectations in a multilevel public goods game, where two local public goods are nested in a global one. We use these measures as indexes of subjective personal and social norms to pursue a twofold objective. On the one hand, we aim to understand whether and to what extent contribution decisions are driven by personal or social norms. On the other hand, we aim to investigate whether changes in the relative efficiency of the two public goods affect norms and norm compliance. In our online experiment, personal norms emerge as the main driver of contribution decisions especially when the efficiency of the related public good increases. However, compliance to empirical expectations signals that social norms still play a role in both positively affecting the contribution to the relative public good and negatively the contribution to the other one.</p>","PeriodicalId":47024,"journal":{"name":"Journal of Public Economic Theory","volume":"27 1","pages":""},"PeriodicalIF":1.1,"publicationDate":"2024-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1111/jpet.70010","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142868695","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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