Public pensions with endogenous fertility: comment on Nishimura and Zhang

Article Abstract:

K. Nishimura and J. Zhang's extension of M.R. Veall's public pensions model to allow for endogenous fertility is found to have a pair of faulty assumptions. A study demonstrates what happens when both assumptions are discarded. The first claims that children display altruistic behavior toward their parents. The implicit second assumption claims an inability of parents or children to coordinate their decisions on fertility. A social security system with a tax rate that matches the socially optimal transfer from parents to children is expected to increase the lifetime consumption and welfare.

Analysis, Economic aspects, Pensions, Altruism, Altruism (Human behavior)

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Transfers to families with children as a principal-agent problem

Article Abstract:

The overall idea reveals that the relationship between government and parents may be seen as principal-agent problem. The four major findings and ways to implement them are discussed.

Administration of Human Resource Programs (except Education, Public Health, and Veterans' Affairs Programs), Social Security, Parents, Agency (Law)

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Lottery or waiting-line auction?

Article Abstract:

A study is made on the efficiencies of the two main non-price allocation mechanisms. It suggests that lottery dominates, waiting-line auction considering four conditions.

Amusement and recreation, not elsewhere classified, Lotteries, Other Gambling Industries, Evaluation, Auctions, Lottery industry, Allocation (Accounting)

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