This paper examines optimal policy when agents, private investors and a government, can learn about the economy by observing others. Investors can delay investment in order to exploit future information. Importantly, investors ignore the informational value of their actions to others when...

The invisible hand theorem relates nothing about the attributes of the optimal allocation vector. In this paper, we identify a convex cone of functions such that order on vectors of exogenous heterogeneity parameters induces component-wise order on allocation vectors for firms in an efficient...

Article about the role of equilibrium in regional economic development and regional governance. The author proposes a system of index ratings disparities in socio-economic development of the regions of the Russian Federation.

One of the major factors of Polish competitiveness - low-cost labour - has been eroded by the accession of newer European Union members wherein labour can be even twice as cheap. In the context of these circumstances and the changing nature of globalisation, in order for the Polish economy to...

Hydrogen energy in combination with fuel cell technology plays an important role in addressing the growing energy demand in the coming decades. This paper analyses the functional and structural factors which affect the development of this technology in Iran. We apply the Technological Innovation...

Обозначены основные этапы жизни и научной биографии лауреата Нобелевской премии в области экономики Л.В. Канторовича, оценивается его вклад в экономическую...

The paper intends to present an analysis of the efficiency and the performance of health sector in Romania. The research efforts are based on the description of the operational mechanism and analyses of the financing or underfinancing of the above system. Romania has a significant issue in terms...

This paper proposes a new mathematical framework for the open pit mine planning problem, based on continuous functional analysis. The main challenge for engineers is to determine a sequence of nested profiles maximizing the net present value of the mining operation. The traditional models for...

The present paper studies existence and characterization of efficient paths in infinite-horizon economic growth models: the method used is based on techniques of nonlinear functional analysis on Hilbert spaces developed earlier by Chichilnisky. Necessary and sufficient conditions are given for...

Functional analysis concept design (FACD) is a method by which owners and designers can 'partner' during the design phase of projects. Much has been written and reported about partnering on construction projects, but little is available on the applications and results of FACD. While FACD has...