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See detailMyopia, redistribution and pensions
Pestieau, Pierre ULg; Cremer, H.

in European Economic Review (2011), 55

This paper reviews a number of recent contributions that study pension design with myopic individuals. Its objective is to explore how the presence of more or less myopic individuals affects pension ... [more ▼]

This paper reviews a number of recent contributions that study pension design with myopic individuals. Its objective is to explore how the presence of more or less myopic individuals affects pension design when individuals differ also in productivity. This double heterogeneity gives rise to an interesting interplay between paternalistic and redistributive considerations, which is at the heart of most of the results that are presented. The main part of the paper is devoted to the issue of pension design when myopic individual do not save ‘‘enough’’ for their retirement because their ‘‘myopicself’’ (with a high discount rate) emerges when labor supply and savings decisions are made. Some extensions and variations are considered in the second part. In particular we deal with situations where labor disutility or preferences for consumption are subject to ‘‘habit formation’’and where sin goods have a detrimental effect on second period health. Myopic individuals tend to underestimate the effects of both habit formation and sinful consumption, which complicates public policy. [less ▲]

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See detailOptimal redistribution with unobservable disability:Welfarist versus non-welfarist social objectives
Racionero, María; Pestieau, Pierre ULg

in European Economic Review (2009), (53), 636-644

This paper examines the optimal non-linear income and commodity tax when the same labor disutility can receive two alternative interpretations, taste for leisure or disability, but the disability is not ... [more ▼]

This paper examines the optimal non-linear income and commodity tax when the same labor disutility can receive two alternative interpretations, taste for leisure or disability, but the disability is not readily observable. We compare the optimal policy under alternative social objectives, welfarist and non-welfarist, and conclude that the nonwelfarist objective, in which the planner gives a higher weight to the disutility of labor of the disabled individuals, is the only reasonable specification. It has some foundation in the theory of responsibility; further, unlike the other specifications it yields an optimal solution that may involve a lower labor supply requirement from disabled individuals [less ▲]

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See detailTeaching versus research: A multi-tasking approach to multi-department universities
Gautier, Axel ULg; Wauthy, Xavier

in European Economic Review (2007), 51(2), 273-295

We study the possible implications of incentive schemes as a tool to promote efficiency in the management of universities. In this paper, we show that by designing internal financial rules which create ... [more ▼]

We study the possible implications of incentive schemes as a tool to promote efficiency in the management of universities. In this paper, we show that by designing internal financial rules which create yardstick competition for research funds, a multi-department university may induce better teaching quality and research, as compared to the performance of independent departments. [less ▲]

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See detailTechnical efficiency in public enterprises: a comparative study of postal services and railways
Pestieau, Pierre ULg; Perelman, Sergio ULg

in European Economic Review (1988), (32), 432-411

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