The purpose of the present paper is to highlight some features of global dynamics of the two-sector growth model with accumulation of human and physical capital analyzed by Brito, P. and Venditti, A. (2010). In particular, we explore two cases where the Brito-Venditti system admits two balanced...

I discuss the joint effects of government-taxes and interest-rates. A fiscal authority performs `exogenous' and `endogenous' changes to the income-tax rate and a monetary authority sets the nominal-interest. A wedge between rates of self-financing of tax cuts and the income-tax Laffer curve...

We study experimentally the effects of sorting in contests between groups of heterogeneous players whose within-group efforts are perfect substitutes. The theory predicts that higher aggregate effort will be reached when variation in ability between groups is lower, i.e., by a more balanced...

Biodiversity is an essential resource, which we classify as conditionally-renewable. In order to achieve conservation and sustainable use of biodiversity virtually all nation states signed the United Nations Convention on Biological Diversity. In this paper we investigate how the heterogeneity...

This study examines the growth of global mobile telephony and the economic factors that affect this growth. Mobile telephony has exhibited substantial growth in the decade to 2000 and this growth is expected to continue with the introduction of technically advanced mobile cellular networks. A...

I explore asymmetric equilibria in a Tullock contest of heterogeneous players in the case when the players’ heterogeneity is weak, and the effort optimization problem can be analyzed in the linear approximation. With increasing discriminatory power of the contest, players sequentially drop...

Global analysis of bifurcation in the Duffing–van der Pol oscillators under both additive and multiplicative random excitations is explored in detail by the generalized cell mapping method using digraph. System parameters are chosen in the range that two co-exist attractors and a saddles. As...

We study the local stability properties of a duopoly game with price competition, different product quality and heterogeneous expectations. We show that the Nash equilibrium can loose stability through a flip bifurcation when the consumer’s type range increases. This result occurs irrespective...

This paper combines the imperfect reliability model of Bala and Goyal [2000b] with the heterogeneous player model of Galeotti et al. [2006]. We compare existence, characterization and efficiency results in the resulting framework with the results in other frameworks allowing for imperfect...