All democratic systems are theoretically open to so-called election inversions, i.e., instances wherein a majority of the decision makers prefer one alternative but where the actual outcome is another. The paper examines the complex 1975 Danish government formation process, which involved five...

Lack of access to credit is a key obstacle for economic development of transitional economies such as Kenya. The underlying problem is related to information asymmetry combined with the lack of collateral by low income households. Microfinance led group lending model offer a new way to deal with...

Given the framework introduced by Dutta and Sen (2012), this paper offers a comprehensive analysis of (Nash) implementation with partially honest agents when there are three or more participants. First, it establishes a condition which is necessary and sufficient for implementation. Second, it...

Mainstream economic theories of rent-seeking and interest groups typically ignore the parallel, yet highly relevant, streams of research on social networks and groups. Incorporating these broader social and psychological theories into economic models of rent-seeking appear to be a promising...

This study empirically delineates the nature of explorative and exploitative alliances, examines how they affect product and process innovations, and investigates how such effects vary in different contexts. Using a sample of 220 Chinese firms in the glass industry, we find that explorative...

This note reviews two possible approaches to political economics scholarship - one concentrating on redistribution conflicts under the assumption of homogenous preferences and one focusing on preference heterogeneity and, among other issues, cultural specificty of agents. It discusses both...

We show that the problem of evaluating infinite sequences (or streams) of utilities by a unique utility (or social welfare function) can be stated in terms of fuzzy subsets of the set of infinite utility sequences. For each stream, its evaluation can be viewed as its degree of membership to the...

As the largest Muslim community in the world, Indonesia is optimist on implementing Islamic economy as one of the system. The previous global financial turmoil has made the attention turn on the Islamic financial model, and in particular the Islamic banking system. This model offers a...

Whether individuals vote strategically is one of the most important questions at the intersection of economics and political science. Exploiting a flaw in the German electoral system by which a party may gain seats by receiving fewer votes, this paper documents patterns of strategic voting in a...

In this paper, a framework is developed to consider collective action, sustainability and the capability approach with regard to resolution of water disputes, followed by a brief discussion of how identity can hinder cooperation or the development of universalism. This framework is then examined...