We use a simple Lotka-Volterra model of the disease transmission process to analyse the dynamic population structure when a vaccine is available at a constant price through time which gives partial immunity to the disease. In contrast to earlier results for the full immunity case, we find that...

This paper considers the joint investment and labour contracts (employment and wage compensation) for a firm which has private information over its expost revenues. There is costly state observation for investors in the firm; workers can free ride on any investors state observation. The...

This paper uses a variant of the Lotka-Volterra system explaining the dynamic interaction between populations of infected and healthy individuals in which the demographic and epidemiological parameters (the net healthy birth rate, the death rate of the infected and the infection rate) are...

We consider the links between the health structure of the population and The productive system of an economy which is subject to infectious disease, in particular tuberculosis. Reviewing the models of tuberculosis suggests that a Lotka-Volterra system can capture the dynamics of epidemics. We...

Empirically, the covariance between stock returns varies with their volatility. We seek a robust theoretical explanation of this. With minimal assumptions, we model stochastic properties of equilibrium returns which result from the interaction between inter-temporal traders and noisy,...

The paper compares the optimal financial contracts of a firm which has private information over its expost revenues when the finance can be provided by either a single or two groups of investors. When they are the only investors we use a financial contract with non-contractible monitoring, in...

With preference rigidities we find Pareto optima of an exchange economy, some of which involve unconsumed endowments. We show that such Pareto Optima can only be attained as market equilibria if there is a top dog in the initial endowment distribution who is richer than the other individuals....