The consequences of ambiguity for partnerships are addressed. Partnerships with symmetric linear production functions are analysed in a Choquet Expected Utility (CEU)-framework. Nash equilibrium in pure strategies is extended to CEU-games. A class of sharing rules are proposed that make...

The purpose of this paper is to provide a coherent framework in which the main characteristics of growth, uncertainty and crisis are connected. Within this framework, we find that these issues, which were so prominent in East Asia, are consequences of the chosen development strategy. Thus, we...

Purpose – The purpose of this paper is to discuss the potential benefits of monetary policy rules for transition economies (TEs). Design/methodology/approach – The paper discusses monetary policy rules, inflation targeting, political risk and ambiguity and monetary policy and ambiguity....