Advances in Public Economics: Utility, Choice and Welfare: A Festschrift for Christian SeidlUlrich U. Schmidt, Stefan Traub This Festschrift in honor ofChristian Seidl combines a group of prominent authors who are experts in areas like public economics, welfare economic, decision theory, and experimental economics in a unique volume. Christian Seidl who has edited together with Salvador Barber` a ` and Peter Hammond the Handbook of Utility Theory (appearing at Kluwer Academic Publishers/Springer Economics), has dedicated most of his research to utility and decision theory, social choice theory, welfare economics, and public economics. During the last decade, he has turned part of his attention to a research tool that is increasingly gaining in importance in economics: the laboratory experiment. This volume is an attempt to illuminate all facets of Christian Seidl’s ambitious research agenda by presenting a collection of both theoretical and expe- mental papers on Utility,Choice,andWelfare written by his closest friends, former students, and much valued colleagues. Christian Seidl was born on August 5, 1940, in Vienna, Austria. Beginning Winter term 1962/63, he studied Economics and Business Administration at the Vienna School of Economics (then “Hochschule fff ̈ ur ̈ Welthandel”). 1966 he was awarded an MBA by the Vienna School of Economics and 1969 a doctoral degree in Economics. In October 1968 Christian became a research assistant at the Institute of Economics at the University of Vienna. 1973 he acquired his habilitation (right to teach) in Economics — supervised by Wilhelm Weber — from the Department of Law and Economics of the University of Vienna. He was awarded the Dr. |
Contents
COMPETITION WELFARE AND COMPETITION POLICY | 1 |
IN WHAT SENSE IS THE NASH SOLUTION FAIR? | 17 |
UTILITY INVARIANCE IN NONCOOPERATIVE GAMES | 31 |
A DUALITY APPROACH | 51 |
SHADOW PRICES FOR A NONCONVEX PUBLIC TECHNOLOGY IN THE PRESENCE OF PRIVATE CONSTANT RETURNS | 61 |
A GLANCE AT SOME FUNDAMENTAL PUBLIC ECONOMICS ISSUES THROUGH A PARAMETRIC LENS | 73 |
RENT SEEKING IN PUBLIC PROCUREMENT | 105 |
AN EMPIRICAL INVESTIGATION | 119 |
CONSTRUCTING A PREFERENCEORIENTED INDEX OF ENVIRONMENTAL QUALITY | 151 |
EVIDENCE FROM STUDENTS QUESTIONNAIRES | 173 |
EQUITY FISCAL EQUALIZATION AND FISCAL MOBILITY | 197 |
WHAT ARE WE LOOKING FOR? | 213 |
IMPLICATIONS OF A MULTIUNIT AUCTIONS EXPERIMENT | 235 |
MODELLING JUDGMENTAL FORECASTS UNDER TABULAR AND GRAPHICAL DATA PRESENTATION FORMATS | 255 |
AN EVIDENCE THEORY MODEL OF REPRESENTATIVENESS | 267 |
ITS INABILITY TO INCLUDE LOANS COMMITMENTS EVEN WITH FULLY DESCRIBED DECISION TREES | 289 |
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Common terms and phrases
affine transformations aggregate allocation Alphaland assumed auction award and contract behavior Betaland bid spreading bidder cardinal utility choice set competition compound question conjunction fallacy decision decision theory defined denote Deutschmarks distribution environmental indices environmental quality equilibrium equivalence scales evaluation expected utility firms fiscal capacity fiscal equalization fiscal mobility forecasts game theory given health profiles heuristic household implies individual interpretation ki,t knowledge ahead laender Linda loan maximizes measurement Nash equilibrium Nash solution NM utility optimal origin independence outcome Pairwise Choice parameters Pareto Pareto efficient payoff period players preference functional probability problem procurement agency producer prices profits public production question questionnaire R-heuristic reference income rent seeking representativeness representativeness heuristic risk aversion RNNE second unit secondary satisfactions shadow prices Social Planner social welfare function society specification stochastic dominance strategy structural mobility subjects Table tests Theorem underlying True utility function utility independence