We argue five main propositions. Firstly, the choice between royalties and profit-based taxation involves an efficiency trade-off, between diminished incentives to produce output on one hand, and diminished incentives to minimize costs on the other (as in Laffont and Tirole 1993). So the Brown...

Attempting to satisfy their political masters in a target-driven culture, Soviet managers had to optimize on many margins simultaneously. One of these was the margin of truthfulness. False accounting for the value of production appears to have been widespread in some branches of the economy and...

The effectiveness of the maintenance scheduling decision depends on the availability of information regarding the remaining useful life of the asset in addition to the asset operating schedule and spares and resources required to carry out the maintenance action. In this paper, we illustrate an...