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The paper aims at a conceptual contribution to the normative economic analysis of rural de-velopment (RD) policies. RD is regarded as a problem of interaction between individuals; (lacking) structural change or the (missing) integration of externalities are therefore recon-structed as...
Persistent link: https://www.econbiz.de/10008526818
Hypergeometric functions are a generalization of exponential functions. They are explicit, computable functions that can also be manipulated analytically. The functions and series we use in quantitative economics are all special cases of them. In this paper, a unified approach to hypergeometric...
Persistent link: https://www.econbiz.de/10005292323
Purpose–The purpose of this paper is to argue that Bernoulli's “utility function solution to the St Petersburg paradox … ways: using Bernoulli's and Kramer's utility function to construct new paradoxes; and designing and implementing a new St … Petersburg game which does not carry the effect of diminishing marginal utility. Findings–In this paper, the author finds that …
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We consider an exchange economy in which price rigidities are present. In the short run the non-numeraire commodities have a exible price level with respect to the numeraire commodity but their relative prices are mutually fixed. In the long run prices are assumed to be completely exible. For a...
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