This paper shows the links between the epistemological debate in Economics and in Law. In an evolutionary perspective we note phases in which each discipline seems “pure doctrine” and others in which there is greater coherence between theoretical patterns and the real economic and legal...

Two theorems are presented that show the following: Assume that preferences are influenced by past consumption. If and only if preferences are adaptive, it is the case that all improvement sequences are acyclic and thus can be a basis for doing welfare economics. It is further argued that...

This paper uses data from the Fragile Families and Child Wellbeing Study to examine the association between multi-partnered fertility (MPF) when parents have children with more than one partner and parents‘ mental health, including Major Depressive Disorder, heavy episodic drinking, and...

This paper analyzes the effects of a percentage-of-revenue salary cap in a team sports league with win-maximizing clubs and flexible talent supply. It shows that a percentage-of-revenue cap produces a more balanced league and decreases aggregate salary payments. Taking into account the...

In this note, we examine the connection between the roommate model and the partnership formation model (Talman and Yang, 2011, Journal of Mathematical Economics 47, 206-212). Upon noting that both occasionally lack equilibria we look at the stable partnerships model, a combination of the former...

The notion of plan coordination enjoys a central place in the analysis of institutions and competitive market processes. The conventional wisdom is that institutions and policies vary in the extent to which they promote competition and how quickly and completely they bring individuals’ plans...

Two of the features that distinguish Social Security and many other state mandated pension plans around the world are that (i) a minimum level of savings for retirement is imposed on most citizens and (ii) individuals cannot decide how their contributions are invested. Here, a rationale for...

We characterize the core of the partnership formation problem (Talman and Yang, Journal of Mathematical Economics 47, 2011) using cycles in the solution of a linear programming problem. The cycles also lead us to a new and intuitive sufficient condition for the existence of equilibrium,...

This paper analyzes the effects of a percentage-of-revenue salary cap in a team sports league with win-maximizing clubs and flexible talent supply. It shows that a percentage-of-revenue cap produces a more balanced league and decreases aggregate salary payments. Taking into account the...