Mumbai city is a financial capital of country but at present it is facing acute pressure of rise in population and inadequate infrastructure facilities and services. All the infrastructure facilities are overcrowded and services are not sufficient to present population, commerce and trade...

For nearly four decades now, the conventional wisdom has been that the migration of human capital (skilled workers) from a developing country to a developed country is detrimental to the developing country. However, this perception need not hold. A well designed migration policy can result in a...

Corporate social responsibility (CSR) is in vogue in recent times. It has been widely received by socially concerned people in business, academia, and NGOs that CSR would lend support to the improvement in social welfare and the protection of environment. However, the question that whether...

We develop a model of social choice over lotteries, where people's psychological characteristics are mutable, their preferences may be incomplete, and approximate interpersonal comparisons of well-being are possible. Formally, we suppose individual preferences are described by a...

This paper focuses on the necessary conditions required in order to exploit the substitution effect which arises when there is a shift in demand induced by import quotas under imperfect competition. The protective policy succeeds if the substitution effect shifts in favor of goods produced by...

A three-sector, three-factor general equilibrium model is developed for a small open developing economy where an inflow of foreign capital generates externalities in the presence of a non-traded final commodity. There are two types of capital and the efficiency of labour depends positively on...

This paper examines the welfare properties of “beauty contest” games with rationally inattentive agents. Agents allocate attention between private and public signals to reduce the uncertainty about observation noises. In this setting, social welfare may not necessarily increase with the...

In this brief comment, the public choice theory aims to distinguish the dilemmas and conflicts in formal and empirical. The hypothesis argues that the reality more complex than the principles of choice of Pareto and Liberalism*. Both the ethics and politics are taking decisions that are not...

A ``difference preorder'' is a (possibly incomplete) preorder on a space of state changes (rather than the states themselves); it encodes information about preference intensity, in addition to ordinal preferences. We find necessary and sufficient conditions for a difference preorder to be...

We introduce a two-stage ranking of multidimensional alternatives, including uncertain prospects as particular case, when these objects can be given a suitable matrix form. The first stage defines a ranking of rows and a ranking of columns, and the second stage ranks matrices by applying natural...