We introduced the structure of an overlapping generation model endogenizing fertility into a new economic geography model to analyze regional and whole economy demographics and the impact of the economic integration between regions. In particular, by introducing survival probabilities, we...

This article reviews the distribution of income and wealth in the US from three basic perspectives that tend to be otherwise overlooked if the subject is framed primarily on the basis of the gross statistics: a) quantity and quality of work effort; b) quantity and quality of capital...

This paper analyzes the ‘Silicon Valley model’ as a novel economic institution in the domain of technological product system innovation such as computers. We focus on the information structural relationship as well as governance relationships between venture capitalists and a cluster of...

A complex analytical framework, the Interactive Party state model (IPS), is offered for revealing the structural and dynamic background of opposite processes: first, the development of the communist party as a political entity into a politically monopolized regime and then to a social system;...

A complex analytical framework, the Interactive Party state model (IPS), is offered for revealing the structural and dynamic background of opposite processes: first, the development of the communist party as a political entity into a politically monopolized regime and then to a social system;...

This paper discusses three alternative assumptions concerning household preferences (altruism, self-interest, and a desire for dynasty building) and shows that these assumptions have very different implications for bequest motives and bequest division. After reviewing some of the literature on...

We include initial holdings in the jungle economy of Piccione and Rubinstein (Economic Journal, 2007) and relax the assumptions on consumption sets and preferences. We show that initial holdings are irrelevant for lexicographic welfare maximization. Equilibria other than such maximizers can be...

The recent debate between Dabrowski, Gomulka and Rostowski, (2001) and Stiglitz and Ellerman (2001) as to key fators determining the success or failure of policies of liberalisation and privatization, illustrates the need for a concise theoretical foundation as to how, when and where policies...

Lodged within the Internet's increasingly commercialized webs there exists a thriving subculture that has developed an economy all its own. Specifically, a modern gift economy, a consistent and internally rational structure of actively anti-economic behavior that presents an interesting...

This paper deals with liberalization and the evolution of output during the transition from plan to market. It explains why strong liberalization leads to a comparatively steep fall in output early in the transition, but a relatively strong recovery later on. Because it takes time to restructure...