Search results for "Marginal"
showing 10 items of 350 documents
On John Bates Clark's “Naive Productivity Ethics”: A Note
2023
Abstract This article explores in detail the reactions among American economists to John Bates Clark's famously controversial claim that the marginal productivity theory of factor pricing and distribution is necessarily just. The general debate around Clark's “naïve productivity ethics,” as George Stigler sharply called it, transcended the then existing distinctions within the discipline and involved figures of virtually all theoretical and ideological persuasions—from prolabor progressives such as Richard T. Ely to staunch conservatives such as Thomas Nixon Carver. Our reconstruction reveals that, contrary to several standard historical accounts, for American early twentieth-century margin…
Do we value mobility?
2015
Is there a trade-off between people's preference for income equality and income mobility? Testing for the existence of such a trade-off is difficult because mobility is a multifaceted concept. We analyse results from a questionnaire experiment based on simple precise concepts of income inequality and income mobility. We fnd no direct trade-off in preference between mobility and equality, but an indirect trade-off, applying when more income mobility can only be obtained at the expense of some income inequality. Mobility preference - but not equality preference - appears to be driven by personal experience of mobility.
Second-best taxation for a polluting monopoly with abatement investment
2018
This paper characterizes the optimal tax rule to regulate a polluting monopoly when the firm has the possibility of investing in an abatement technology and the environmental damages are caused by a stock pollutant. The optimal policy is given by the stagewise feedback Stackelberg equilibrium of a dynamic policy game between a regulator and a monopolist. The regulator playing as the leader chooses an emission tax to maximize net social welfare, and the monopolist acting as the follower selects the output and the investment in abatement technology to maximize profits. We find that the optimal tax has two components. The first component is negative and equal to the gap between the marginal re…
Household debt and labor market fluctuations
2011
Abstract The co-movements of labor productivity with output, total hours, vacancies and unemployment have changed since the mid 1980s. This paper offers an explanation for the sharp break in the fluctuations of labor market variables based on endogenous labor supply decisions following the mortgage market deregulation. We set up a search model with efficient bargaining and financial frictions, in which impatient borrowers can take an amount of credit that cannot exceed a proportion of the expected value of their real estate holdings. When borrowers' equity requirements are low, the impact of a positive technology shock on the marginal utility of consumption is strengthened, which in turn re…
Nonlinear impact estimation in spatial autoregressive models
2018
International audience; This paper extends the literature on the calculation and interpretation of impacts for spatial autoregressive models. Using a Bayesian framework, we show how the individual direct and indirect impacts associated with an exogenous variable introduced in a nonlinear way in such models can be computed, theoretically and empirically. Rather than averaging the individual impacts, we suggest to graphically analyze them along with their confidence intervals calculated from Markov chain Monte Carlo (MCMC). We also explicitly derive the form of the gap between individual impacts in the spatial autoregressive model and the corresponding model without a spatial lag and show, in…
Commoning of territorial heritage and tools of participated sustainability for the production and enhancement of agro-environmental public goods
2021
AbstractThe purpose of this paper is to analyze how the commoning heritage processes find application for the production of agro-environmental public goods in contexts of high socio-economic marginality and environmental vulnerability, characterized by abandonment and from the consumption of agricultural land for food use. The purpose is to understand how these processes are able to influence, at local level, the governance processes for the implementation of environmental protection strategies. The survey made it possible to verify how the commoning processes aimed at the production of agro-environmental goods generate territorial resilience, understood as a community competence able to st…
Palermo: lo ZEN e l'arte della negoziazione pubblico-privato
2009
Los inicios del programa de artes del Instituto Técnico Obrero Empresarial del Polígono Industrial Don Bosco
2014
Este trabajo recoge una experiencia en el Instituto Técnico Obrero Empresarial Don Bosco durante el inicio de la actividad musical de dicha institución y los resultados y el posterior camino que esta actividad inicial supuso. Durante un mes se trabajó con todos los niveles educativos de esta institución para introducirles en el mundo de la música, pero desde una perspectiva específica destinada a potenciar su creatividad como futuros empresarios y a mejorar su formación personal cultural. En definitiva, este acercamiento a la música se promovió como un intento de conseguir empresarios creativos y al mismo tiempo seres humanos abiertos a la belleza de las manifestaciones artísticas como acti…
Fronto-parietal homotopy in resting-state functional connectivity predicts task-switching performance
2021
Homotopic functional connectivity reflects the degree of synchrony in spontaneous activity between homologous voxels in the two hemispheres. Previous studies have associated increased brain homotopy and decreased white matter integrity with performance decrements on different cognitive tasks across the life-span. Here, we correlated functional homotopy, both at the whole-brain level and specifically in fronto-parietal network nodes, with task-switching performance in young adults. Cue-to-target intervals (CTI: 300 vs. 1200 ms) were manipulated on a trial-by-trial basis to modulate cognitive demands and strategic control. We found that mixing costs, a measure of task-set maintenance and moni…
Structural Source of the Trap of ICT Advancement - Lessons from World ICT Top Leaders
2014
In light of the significant consequence of the trap of dramatic advancement of information and communication technology (ICT) in the global economy, both nations and firms that have been compelling their productivity decline. This resulted in great stagnation of ICT advanced economies and therefore its structural sources were analyzed. Based on an empirical analysis tracing, the trend in marginal productivity of ICT and its subsequent prices among the top ICT leaders in the world over the last two decades correlating with the effects of ICT, two faces of ICT advancement were identified. On one side, advancement of ICT contributes to its prices increase by new functionality development, its …