We show that simple majority rule satisfies the Pareto property, anonymity, neutrality, and (generic) transitivity on a bigger class of preference domains than any other voting rule. If we replace neutrality in the above list of properties with independence of irrelevant alternatives, then the corresponding conclusion holds for unanimity rule (rule by consensus). * Faculty of Economics and Poli...

Containment of Medicaid pharmaceutical drug program costs continues to be an important policy problem. Perhaps the most important policy of the past two decades with significant implications for Medicaid pharmaceutical drug programs was the Omnibus Budget Reconciliation Act (OBRA) of 1990. This study analyzes Medicaid drug spending data from 1985 to 1997 to determine how OBRA 1990 influenced th...

The interaction of climate and development threatens to create a paradox: economic development could accelerate climate change, which in turn could block further development, locking the world into existing patterns of inequality as the natural environment deteriorates. The solution to this paradox is far from obvious. What analytical tools are needed to chart a path that leads toward sustainab...

Rupa Duttagupta Arvind Panagariya January 2, 2001 Abstract We incorporate intermediate inputs into a small-union general-equilibrium model and develop the welfare economics of preferential trading under the rules of origin. Combining this analysis with the Grossman-Helpman political-economy model, we demonstrate that the rules of origin can improve the political viability of FTAs. Two interesti...

The 2004 election has been interpreted as a resounding victory for conservative values. Was it in fact a mandate? The present analysis examines recent electoral outcomes and the 2004 election with particular reference to economic and political fundamentals. It compares the results of the 2004 election with predictions using voting models. Additionally, it identifies the trends for different soc...