The present study applies purpose-built dynamic computable general equilibrium models for Ghana and Kenya with a disaggregated country-specific representation of the power sector to simulate the prospective medium-run growth and distributional implications associated with a shift towards a...

Building upon earlier work by Willenbockel (2013; MPRA Paper No.51501), this study provides an extended ex-ante computable general equilibrium (CGE) assessment of the Tripartite Free Trade Agreement between the member states of the Common Market for Eastern and Southern Africa, the East African...

An alternative theoretical setting is presented to characterise the money demand and the monetary equilibrium. Two main hypotheses are stated that contradict the assumptions normally sustained by scholars and policy-makers: National output is assumed to be a random variable, and people are...

Ken Arrow (1998) asks, “What has economics to say about racial discrimination?” He replies – entirely correctly – that racial “segregation within an industry – that is, firms with either all black or all white labor forces” – may be explained by economic theory, but “the...

90 Classical problems in economics are concerned with the solutions of several simultaneous nonlinear optimization problems, one for each consumer or producer, all facing constraints posed by the scarcity of resources. Often their interests conflict, and it is generally impossible to find a...

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...

Ein analytisches Modell mit acht Parametern zur Beschreibung idealisierter Ponzi-Systeme mit asymmetrisch und progressiv wachsenden Kapitalzu- und -abflüssen wird präsentiert. Investoren bleiben optional zeitlich begrenzt oder dauerhaft investiert. Diverse Systemvarianten inklusive deren...

This paper discusses the design of a novel multi-dimensional mechanism which allows a principal to procure a single project or an item from multiple suppliers through a two-step payment. The suppliers are capable of producing different qualities at costs which cannot exceed a certain value and...

Electricity market liberalisation has become common practice internationally. The justification for this process has been to enhance competition in a market traditionally characterised by statutory monopolies in an attempt to reduce costs to end-users. This paper endeavours to see whether a pool...

In many auctions, a good match between the bidder and seller raises the value of the contract for both parties although information about the quality of the match may be incomplete. This paper examines the case in which the bidder is better informed about the quality of his match with the seller...