In standard economic growth theory it is usually assumed that labor force follows exponential growth. That is not a realistic assumption. In this paper we introduce a generalized logistic equation (Richards law) that describes more accurately population growth. Then we analyze the neoclassical...

The Solow growth model assumes that labor force grows exponentially. This is not a realistic assumption because, exponential growth implies that population increases to infinity as time tends to infinity. In this paper we propose replacing the exponential population growth with a simple and more...

The "linearity critique" of endogenous growth models is presented in a general context of an arbitrary growth model and reassessed. It is argued, that presence of linearities is not a valid criterion for rejecting growth models. Existence of exponential/geometrical steady- state growth (i.e. of...

This paper studies models where the correspondences (or functions) under consideration are never increasing (or weakly decreasing) in endogenous variables, and weakly increasing in exogenous parameters. Such models include games of strategic substitutes, and include cases where additionally,...

When, in a supply chain, a supplier and a buyer have the choice of transaction form to do business, the equilibrium transaction form which emerges is much more constrained than previously envisaged in literature. In this paper, two forms of long-term supply contracts and procurement in the spot...

The present paper studies the impact of information sharing and contractual instruments on a shipper and her transport suppliers through a monte carlo simulation. After reviewing the literature, we propose a model to measure the benefits in terms of expected transport cost and variance of this...

We consider an extension of a general equilibrium model with incomplete markets that considers cash-in-advance constraints. The total amount of money is supplied by an authority, which produces at no cost and lends money to agents at short term nominal rates of interest, meeting the demand....

We consider an exchange economy under incomplete financial markets with purely financial securities and finitely many agents. When portfolios are not constrained, Cass (1984), Duffie (1987) and Florenzano--Gourdel (1992) proved that arbitrage-free security prices fully characterize equilibrium...