An exhaustive and disjoint decomposition of social choice situations is derived in ageneral set theoretical framework using the new tools of the Lifted Pareto relation on thepower set of social states representing a pre-choice comparison of choice option sets. Themain result is the...

The consumption equivalence method is the theoretical basis of public cost-benefitanalysis. Consumption equivalence public capital prices are explicitly introduces in orderto sufficiently care for the opportunity cost of public expenditure. This can solve thedispute about the social rate of...

Why does venture capital work in some countries but not in others? This clinical study of the first German venture capital firm examines the difficulties of creating a venture capital market in a bank-based financial system. The analysis identifies the problem of creating appropriate governance...