This paper investigates the dimension requirements of informationally decentralized Pareto-satisfactory processes in production economies with increasing returns to scale or more general types of non-convexities. We show that the marginal cost pricing (MCP) mechanism is informationally effcient...

After overcoming various financial crises in the mid-90's and early millennium (Tequila, Asian, Russian, Brazil, Argentina and Ecuador) Latin America found a proper environment conducive to reach sustained growth and macroeconomic stability. Endogenous elements - such as credit growth, the...

As at today, it is an indisputable fact that the climate is changing and there is a scientific consensus that the world is becoming a warmer place principally attributable to human activities. Regrettably, the physical impacts of future climate change on humans and the environment will include...

Demichelis and Polemarchalis (2007) highlighted the role played by the frequency of trade on the degree of indeterminacy of equilibrium in economies of overlapping generations. Assuming that time has a finite starting point and extends into the infinite future, they prove that the degree of...

The Asian Development Bank (ADB) provided support to the MOF to formulate a user-friendly and easily transferable computable general equilibrium (CGE) model to reflect the effect of changes in various public policies and forecast changes of fiscal policy on different sectors of the economy....

I propose a dynamic game model that is consistent with the paradigm of bounded rationality. Its main advantages over the traditional approach based on perfect rationality are that: (1) the strategy space is a chain-complete partially ordered set; (2) the response function is certain...

This book stems from work by the author published in Energy Economics, the International Journal of Exergy and follow-up working papers and a previous book Thermoeconomics. Topics covered include entropy processes in the world, a history of human development, the distribution of income, first...

This third edition of the book stems from work by the author published in Energy Economics, the International Journal of Exergy and follow-up working papers. Topics covered include the gas laws, the distribution of income, first and second laws of thermodynamics, economic processes, elasticity,...

National economy and security are fully dependent on information technology and infrastructure. At the core of the information infrastructure society relies on, we have the Internet, a system designed initially as a scientists’ forum for unclassified research. The use of communication networks...

This paper investigates the macroeconomic effects of services sector reform policies using two computable general equilibrium models of Sri Lankan economy. First model assumes perfect competitive market and second one assumes monopoly supplier economy. Both models have been calibrated using Sri...