The purpose of the analysis is to map out conditions for founding a company in the EU by using its keystones “Free mobility of goods, services, persons and capital” in real life. In our analysis we shall put special emphasis on the sections concerning persons and capital.

We study the optimal regulation of a cooperative credit society which has private information on the intrinsic quality of its loan portfolio (adverse selection) and where the cooperative’s choice of effort to improve this quality cannot be observed by the regulator (moral hazard). We...

This review article introduces and evaluates various ways to aggregate probabilistic opinions of different individuals. For each of these three ways, an axiomatic characterization result is presented (a new one in the case of multiplicative pooling). The three ways satisfy different axioms and...

This paper studies models where the optimal response functions under consideration are non-increasing in endogenous variables, and weakly increasing in exogenous parameters. Such models include games with strategic substitutes, and include cases where additionally, some variables may be...

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...

Mathematical Economics, Social Science and Political Science are inter-related. In this paper, an attempt has been made to describe aspects of these subjects by introducing examples, definitions, mathematical calculations and discussions. Game Theory is included in this paper to study...

A model of the economic system with the property rights distributed among several agents is considered. The effect of property rights allocation on the economic efficiency of the management strategies is studied.

This paper investigates the distribution of delays during a repeatedly occurring demand peak in a congested facility with random capacity and demand, such as an airport or an urban road. Congestion is described in the form of a dynamic queue using the Vickrey bottleneck model and assuming Nash...

The conventional search and matching model has been criticized for its inability to explain large cyclical volatility in the vacancy-unemployment ratio without ad hoc assumptions of wage rigidity. This paper presents a mechanism of such volatility without assuming wage rigidity by showing that...

I suggest a new game called wise exploitation. It is characterized by a small investment of the exploiting party to either breed the exploited party or educate the exploited party not to detect exploitation. Thereby a higher productivity than cooperation or prisoners´ dilemma is achieved. The...