We analyse the long-run equilibrium and adjustment dynamics in three popular models of economic growth when property rights are absent. The results are compared to the outcome in the corresponding economy with secure property rights.

If firms demand heterogeneous working qualifications, each has to decide whether to choose its preferred qualification and be incompatible to other firms' qualifications or to standardize and choose the same qualification as other firms. The model analyses whether advanced training, which...

This paper applies n-person cooperative game theory to analyze the efficient cost allocation problem of a three communities contructing a common sewage system.

Hight- and Low-quality workers are organized in their respective unions. Downward compatibility of high-quality workers enhances the perceived work qualities of both groups and increases the demand for low-quality workers. Welfare effects are analysed.

The paper elaborates the productivity paradox of information technology in order to find an answer to the question of why, contrary to expectations, the correlation between expenditures in information technology and economic growth is not ambiguous. To formulate an answer, the paper focuses on...

Multi-choice games and fuzzy games both deal with the situations where the players have more than two participants levels. Two values have been proposed for the multi-choice games: Hsiao-Raghavan (1993) and Nouweland et al. (1995). The former one depends on an arbitrarily given weight, and Hsia...

In this paper a theoretical framework is provided to link firm efficiency to product market competition. In particular x-efficienct is shown to arise to the extent unions directly affect the level of employment. A positive relationship is established between social efficiency and x-efficiency,...

The discussion of power measures and fairness concepts follows two isolated strings of thought that have rather different traditions. This paepr argues that it is exactly this restriction that confuses the discussion. By making use of the theory of power indices and Binmore's theory of justice,...