The theory of melioration, originally formulated for individual decision-making contexts, is formally extended to a game theoretic framework. This paper proves the existence of a distribution that is a melioration strategy on the part of all players. Further, the question of stability of such a...

The concept “Data Envelopment Analysis” (DEA) was introduced in the journal literature by the highly influential 1978 paper of Charnes, Cooper, and Rhodes. In the subsequent literature the development of research leading up to this paper tended to be forgotten. However, studying this...

This paper reviews Jacob Mincer?s contributions to the analyses of earnings and the distribution of earnings through his pioneering focus on labor market experience or on-the-job training. It begins with a brief discussion of the theoretical literature on the distribution of earnings in the...

Seit zwanzig Jahren befaßt sich die Finanzmarktforschung einerseits mit Fragen der Bewertung und des Managements von Finanztiteln auf effizienten Kapitalmärkten und mit Fragen der Managementkontrolle auf unvollkommenen Märkten. Der folgende selektive Überblick konzentriert sich auf zentrale...

Engel's verbal formulation of his Law expresses a "negativ stochastic association" of the bivariate distribution of income and food share across the population. Among the many different definitions of association four are chosen: Kendall's tau, negative quadrant dependence, stochastically...

Economic behavior strives for efficiency. Therefore, also evolving network structures should be a result of such a goal-oriented behavior. Traditionally, networks were assumed to be only temporary phenomena, since the prevailing organizational forms that comply with the efficiency postulate are...

The regulatory shift by competition and antitrust authorities, allowing limited industry collusion in sustainability-related investments to align markets with broader environmental and social objectives, suggests a re-evaluation of competition as a mechanism for promoting collective welfare....

This paper gives an outline of evolution of the concept and econometrics of production function, which was one of the central apparatus of neo-classical economics. It shows how the famous Cobb-Douglas production function was indeed invented by von Thunen and Wicksell, how the CES production...

Lionel Robbins 1932 Essay is one of the most influential methodological works in 20th century economics. This said, the Essay is not philosophically seamless; it exhibits certain tensions that are not easily reconciled within any specific philosophical characterization of scientific knowledge....

Entrepreneurship researcher's growing interest in Austrian economics has not been matched by systematic efforts to tease out and incorporate this tradition's basic ideas. To remedy this situation, this paper introduces the Austrian market-process tradition and also compares it to the...