This paper investigates the dimension requirements of informationally decentralized Pareto-satisfactory processes in production economies with increasing returns to scale or more general types of non-convexities. We show that the marginal cost pricing (MCP) mechanism is informationally effcient...

Immediately after World War II the allied powers began what would be a slow march towards a worldwide economic and political order. They established an organization for political and military crises (the United Nations), economic rehabilitation (the International Monetary Fund), facilitation of...

This paper has made an attempt to show that in a developing economy, agriculture and Special Economic Zones (SEZ) can go simultaneously without affecting one another if appropriate subsidy policy is designed by the government. We have considered increasing returns brought about by external...

This paper studies the short-run and long-run behavior of a competitive economy in which both the discount factor and technological change are endogenously determined. In particular, the effect of saving behavior on persistent economic growth is considered. The paper provides the sufficient...

This chapter introduces the author’s selected papers on the economics of coercion and conflict. It defines coercion and conflict and relates them. In conflict, adversaries make costly investments in the means of coercion. The application of coercion does not remove choice but limits it to...

We study the conditions ruling the diffusion of open source as opposed to proprietary software distributed by a commercial editor. The two types of software differ in relation to their adoption costs and to the range of functionalities they offer. By distinguishing software users according to...

This note shows that in a developing economy, agriculture and Special Economic Zones (SEZ) can grow simultaneously without affecting one another if an appropriate subsidy policy is designed by the government. We consider increasing returns brought about by external economies of scale in the...

This paper makes use of an agent-based framework to extend traditional models of comparative advantage in international trade, illustrating several cases that make theoretical room for industrial policy and the regulation of trade. Using an agent based implementation of the Hecksher-Ohlin trade...

The objective of this study is to investigate the validity of the Kaldor-Verdoorn’s Law in explaining the long run determinants of the labor productivity growth for the manufacturing sector of some developed economies (Western European Countries, Australia, Canada, Japan and United States). We...

Regional unemployment rates in the European Union (EU-15) reveal a core-periphery structure. Large ?core? regions in the middle of the continent have low unemployment rates, whereas excessive mass unemployment is predominantly found in the peripheral regions at the outside borders of EU-15. This...