Most demand - especially labor demand - is derived from the demand for some other product. This note demonstrates that the usual analysis of economic rent, as typically explained for the case of consumers' surplus, carries over to the case of derived demand.

The microfinance movement has gained tremendous popularity over the past 30 years, but it is still far from meeting its full potential. The industry stands at a crossroads between increased commercialisation and increased philanthropic aid. Standard economic discourse does little to resolve the...

In a model of evolution driven by conflict between societies more powerful states have an advantage. When the influence of outsiders is small we show that this results in a tendency to hegemony. In a simple example in which institutions differ in their "exclusiveness" we find that these...

After the micro politics, the complexity of the “public management”, polity and policies, is the same of the “private management” or the management of the others sectors of the social production reality. The science of management it is not defined by products, functions, sectors and so...

Juries charged with evaluating economic policy alternatives are the focus of this study. The recruitment and management of juries is a principal–agent problem involving the design of incentive mechanisms for participation and truthful revelation of values. This paper considers a simple general...

The current paper sought to (i) identify the determinants of the choice of health care providers in Cameroon, and (ii) determine the compensation to the poor to get them away from traditional/self healing. The core is a nested Logit model, accounting for the poor’s decision in terms of a...

This paper derives conditions under which concerns about relative income cause an individual's optimal share of the risky investment to increase with the aggregate share (rational herding). The model uses a measure of relative income that can flexibly capture the effects of both consumption...

Attribution of economic joint effects is achieved with a random order model of their relative importance. Random order consistency and elementary axioms uniquely identify linear and proportional marginal attribution. These are the Shapley (1953) and proportional (Feldman (1999, 2002) and Ortmann...

This paper examines the impact of Ramp;D and FDI on firm growth for a panel data of Indian manufacturing firms. We argue that besides age and size, FDI and Ramp;D are essential determinants of firm growth. We use GMM estimation for fixed effects panel data models to control for endogenity of...

In this paper a simple model of mergers in which synergies, private benefits and CEO power play a crucial role is proposed. A merger is modeled as a bargaining process between the acquiring and target board with the gains from a merger divided according to Rubinstein's alternating-offer game...