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Various approaches used in Agent-based Computational Economics (ACE) to model endogenously determined interactions between agents are discussed. This concerns models in which agents not only (learn how to) play some (market or other) game, but also (learn to) decide with whom to do that (or not).
Persistent link: https://www.econbiz.de/10010284102
Resource misallocation can lower aggregate total factor productivity (TFP).We use microdata on manufacturing establishments to quantify the potential extent of misallocation in China and India versus the United States. We measure sizable gaps in marginal products of labor and capital across...
Persistent link: https://www.econbiz.de/10009372619
A characteristic of many bargaining situations is that the negotiators represents the interests of a set of parties (trade unions, political parties, etc.) with composite interests, whose bargaining behaviour is regulated by some collective decision mechanism. In this paper we provide a natural...
Persistent link: https://www.econbiz.de/10014036761
To exploit the economies of scale and scope in multi-product technologies, enterprises in advanced capitalist countries grew in the last 150 years in three directions. By substituting in the place of traditional entrepreneurs professional managers, they developed organisational capabilities to...
Persistent link: https://www.econbiz.de/10014028351
their dominance are likely to further diminish equity in food systems by exacerbating power asymmetries. In addition, the … resilience of food systems has the potential to be weakened as these strategies tend to reduce organizational diversity, as well … are most dominant in higher protein food industries globally and their recent strategic moves. We discuss the likelihood …
Persistent link: https://www.econbiz.de/10012626983
The capital as power framework, developed by Jonathan Nitzan and Shimshon Bichler, argues that the aim of business is not ‘profit maximization’ but the differential accumulation of social power. Using this framework as a theoretical starting point, I analyze the differential accumulation...
Persistent link: https://www.econbiz.de/10012631071
This paper suggests that, with the help of Concordian economics, the economic process can be studied through the perspectives of Production of real wealth; Distribution of ownership rights; Consumption of financial instruments (as well as the integration of these three perspectives). The...
Persistent link: https://www.econbiz.de/10013100963
We demonstrate the importance of distinguishing between the traditional use of labor for production, versus alternative uses of labor for overhead, marketing and other expansionary activities, for studying the distribution of both factor income and labor income. We use our framework to assess...
Persistent link: https://www.econbiz.de/10012841091
This paper is concerned with those actions of business firms which are aimed at managing the business and economic risks and uncertainties. The standard example of risk management is finance and insurance but these only capture a small fraction of the business risk faced by a company in a...
Persistent link: https://www.econbiz.de/10012778810
This paper provides risk/reward evaluation and legal analysis of foreign investing under Cuban Law No. 118 (2014). Section I addresses dynamic changes in Cuba since 2008. Section II examines reforms of Cuban foreign investment laws. Section III explores investment options such as import/export,...
Persistent link: https://www.econbiz.de/10013003178