The resort to utility-theoretical issues will permit us to propose a constructive procedure for deriving a homogeneous of degree one, continuous function that gives raise to a primitive demand function under suitably mild conditions. This constitutes the first elementary proof of a necessary and...

Bandyopadhyay, Dasgupta and Pattanaik [JET, 2002] have presented a construction that aggregates standard demand functions by a stochastic demand function, in such way that the latter satisfies the weak axiom of stochastic revealed preference when the former full Samuelson's weak axiom of...

This article explores two of the five major factors that determine success in high-growth small and medium-sized enterprises (SMEs). Research has shown that the internal characteristics of SMEs such as technology strategy and the demographics of the management team are critical and related to...

The paper starts with a brief review of present understanding of income distributions; especially with regard to recent work in the field of econophysics that draws parallels between income, wealth and energy distributions. Examples of alternative energy distributions found in physical systems...

Comparative advertising by one brand against another showcases its merits versus the demerits of the other. In a two-stage game among finitely many firms, firms decide first how much to advertise against whom. In the second stage, given the advertising configuration, firms compete as Cournot...

The report, a series of international benchmarking studies conducted by the Productivity Commission, compares Australian telecommunications prices, price changes and regulatory arrangements with those in nine other OECD countries, updating a similar study, International Benchmarking of...

We investigate differences in bidding behavior and participation patterns between simultaneous and multi-round auction formats held in the state of Oklahoma. Theory suggests there could be differential bidding effects arising from synergies and the release of relevant information across the two...

The existence of cooperation and social order among genetically unrelated individuals is a fundamental problem in the behavioural sciences. The prevailing approaches in biology and economics view cooperation exclusively as self-interested behaviour— unrelated individuals cooperate only if they...

Input-Output models of various types of prices. Prices are derived as characteristic vectors of certain kinds of matrices and price parameters as their characteristic roots. The most general are the three-channel prices that are characteristic vectors of the linear combination of matrices of the...

A benchmarking procedure ranks real-valued acts by the probability that they outperform a benchmark B; that is, an act f is evaluated by means of the functional V(f) = P(f B). Expected utility is a special case of benchmarking procedure, where the acts and the benchmark are stochastically...