This paper proposes a theory of why the state enacted social policy that regulated the length of the working day in 19th century industrial England. This paper will argue that, far from being capable of self-regulation, the capitalist labor market during Britain’s industrial revolution is best...

Die Analyse zeigt, dass Doping nicht nur eine Frage individueller Moralvorstellungen und Fairness ist, sondern aus ökonomischer Sicht unter verschiedensten Gesichtspunkten für Sportler eine rationale Strategie darstellt. Die Athleten geraten regelmäßig in ein Gefangenen-Dilemma, in dem...

A variety of analogical literature is reviewed to ascertain oscillations in the collected works to determine a symphonic solution that is emancipatory of all incentives to conduct unethical manipulations of financial disclosures. The etymological question is how to structure an incentive plan...

We analyze a market game where firms choose capacities under uncertainty about future market conditions and make output choices after uncertainty has unraveled. We show existence and uniqueness of equilibrium under imperfect competition and establish that capacity choices by strategic firms are...

Policymakers all over the world claim: no innovation without protection. For more than a century, critics have objected that the case for intellectual property is far from clear. This paper uses a game theoretic model to organise the debate. It is possible to model innovation as a prisoner's...

The ex ante incentive compatible core of an exchange economy with private information is the (standard) core of a socially designed characteristic function, which expresses the fact that coalitions allocate goods by means of random incentive compatible mechanisms. We first survey some results in...