Two diverse Filipino village communities were intensively surveyed and then focus-group discussions were held among their members. These discussions indicated that members of the less well-off community, compared with the one which was better-off, see fewer benefits to be derived from investing...

Antonelli, over a hundred years ago, pioneered techniques of economic analysis which still can be usefully employed to provide apparently new insights in duality theory. This assertion is demonstrated through the applications of these techniques to derive specific results in duality theory....

Can unanimous (or nearly so) agreement be reached by members of a diverse community on a system of justice in distribution used to guide the re-distribution of endowments within this community? Arrow’s impossibility result suggests that this question will receive a negative answer if...

Abstract The paper reconsiders the hold-up problem in long-term bilateral trade with specific investments. In our framework, the parties face several trading opportunities (goods) whose characteristics cannot be described at the start of the relationship. Specifically, there exists an investment...

The paper examines the consequences of the economic integration of factor markets in a model with two countries that redistribute income among their residents. The social benefits in each country are financed by a source based tax on capital which is democratically chosen by its inhabitants. If...