This paper constructs a stochastic version of an endogenously growing economy with a public good that raises the productivity of private capital. We explore how growth and welfare are influenced by changes in the mean and variance of productive public spending under two alternative financing methods, mixed money–bond financing and wealth-tax financing. In addition, to evaluate the differences b...

This paper contributes to a small but growing body of evidence regarding the efficacy of value-based insurance design. In a retrospective, observational study of employees of a large global pharmaceutical firm, we evaluated how reduced patient cost sharing for prescription drugs for asthma, hypertension, and diabetes affected the use of these drugs and related medical services. We estimate that...

Four studies tested the idea that saving money can buffer death anxiety and constitute a more effective buffer than spending money. Saving can relieve future-related anxiety and provide people with a sense of control over their fate, thereby rendering death thoughts less threatening. Study 1 found that participants primed with both saving and spending reported lower death fear than controls. Sa...

In this paper, I replicate Erikson and Palfrey (2000) who propose that the simultaneity problem in measuring the effects of candidate spending can be resolved by restricting the sample to close elections. Vote-on-spending effects, which vary with the expected closeness of the election outcome in a systematic way, determine the extent of simultaneity bias. The simultaneity bias becomes progressi...

Off-line e-cash systems are the digital analogue of regular cash. One of the main desirable properties is anonymity: spending a coin should not reveal the identity of the spender and, at the same time, users should not be able to double-spend coins without being detected. Compact e-cash systems make it possible to store a wallet of O(2) coins using O(L+ λ) bits, where λ is the security paramete...