1. Information systems have recently undergone substantial changes. The computing power has experiencing a move from “Asset” to “Expense”. Under the emerging model of cloud computing, user organizations do not need to have an ownership of the information systems. They can now just use...

In this paper we present our experiences with the execution of structural economic models over the Grid using ”cloud computing”. We describe cases of distributed implementation and execution of occupational choice and financial deepening models of economic growth. We show how the...

The macroeconomic impact of advances in information and communications technologies is significant but problematic to assess. Research on these developments has been isolated to specific disciplines, easily outpaced by new innovations and few studies describe the multiple changes and their...

Experimental evidence and field data suggest that agents hold two seemingly unrelated biases: failure to account for the fact that the behavior of others reflects their private information (“winner's curse”), and a tendency to value a good more once it is owned (“endowment effect”). In...

The monography considers laws and mechanisms of social development from positions of positivism, dialectic materialism and the theory of systems. The methodology of the author is based on causality in relations of a society and social institutes. Social development is considered as result of...

The socially optimal allocation has been regarded to be unspecifiable because of utility’s interpersonal incomparability, Arrow’s general possibility theorem, and other factors. This paper examines this problem by focusing not on the social welfare function but instead on the utility...

This paper examines the socially optimal allocation by focusing not on the social welfare function but instead on the utility possibility frontier in exogenous growth models with a heterogeneous population. A unique balanced growth path was found on which all of the optimality conditions of all...