The Economic Theory of Annuities 9 doc

THE ECONOMIC THEORY OF ILLEGAL GOODS: THE CASE OF DRUGS doc

... Henry and Chaloupka, Frank J. The Demand for Illicit Drugs,” Economic Inquiry, 37, No. 3, July 199 9, pp. 401-411. The Economic Theory of Illegal Goods: the Case of Drugs Gary S. Becker, Kevin ... SERIES THE ECONOMIC THEORY OF ILLEGAL GOODS: THE CASE OF DRUGS Gary S. Becker Kevin M. Murphy Michael Grossman Working Paper 1 097 6 http://www.nber.org/papers/w1 097 6...

Ngày tải lên: 23/03/2014, 20:20

The Economic Theory of Annuities_9 doc

... in favor of such options. A vast economic literature reports experimental and empirical evidence of the bounded rationality and shortsightedness of individuals (e.g., Rabin, 199 8, 199 9; Mitchell ... accross states of nature). Sequential annuity market equilibrium is characterized by the purchase of long-term annuities, short sale of some of these annuities later on, o...

Ngày tải lên: 20/06/2014, 20:20

Review of The Economic Theory of Annuities_7 doc

... in insurance markets: The cause of the inefficiency is that individuals disregard the effect of their actions on the equilibrium rate of return on annuities. Essentially, these distortions are ... years has focused on the design of SS reforms aimed at closing these deficits. The issues involved are not only the economics of annuities but also much broader issues such...

Ngày tải lên: 21/06/2014, 00:20