Waves of military technological changes have swept through the Eurasian land mass since the dawn of civilization. Military technological changes decisively shaped geopolitics and the fortunes of states, empires and civilizations. In his book Jimmy Teng claims that to understand the impacts of...

Writing should be an integral component of mathematics intensive economic courses. The economic teacher is faced with a dilemma. If he does not use mathematics and teaches economics informally relying mainly on words and diagrams, then the students will fail to understand most current economic...

The Fable of the Bees of Bernard Mandeville and Chi-mi of The Book of Guan Zi have much similarity in their economic reasoning. Both argue that extravagance in consumption spending will stimulate economic activity. The social political objectives of the two works are however very different....

This paper presents a generalized Stackelberg model of market leaderhip with noisy observation. The current prevailing Stackelberg model and Cournot market are two extreme cases of this generalized Stackelberg model. As the follower relies less on the inaccurate noisy observation and more on...

Autonomous demand shock affects consumption spending. Variation in consumption spending contributes to the volatility in aggregate demand. As the investor is risk averse, volatility of aggregate demand reduces investment. Government injects monetary noise to reduce the volatility in aggregate...

Perfect Bayesian equilibrium is not a subset of Nash equilibrium. Perfect Bayesian equilibrium requires players to have beliefs that are consistent with the equilibrium strategies of other players. Nash equilibrium does not explicitly specify the beliefs of the players. However, the default...

The type of the mainstay of the military forces of a state decides the decree of economies of scope that exist among the military, the internal security establishment and, the fiscal apparatus which taxes and provides public goods. Economies of scope reduce the cost of military pursuit and other...