Using a model of a two-pillar pension system, designed after and calibrated to the Dutch situation, we explore for the funding ratio of pension funds and the welfare of individuals the implications of replacing nominal debt in the pension fund's portfolio with indexed debt. We consider...

This work is aimed basically at x-raying the personnel conflicts as well as the causes and how management of such conflicts would invariably lead to changes, be it positive or negative in any organization. For proper understanding, some definitions were attempted at the beginning such as...

Patents lead to ex-post dead-weight losses arising from a non-competitive market structure for the invention. Many have argued that introducing independent invention as a defense (IID) to patent infringement can increase social welfare by decreasing such dead-weight losses at the price of a...

This study discusses the utility of environmental enforcement networks (networks). It considers the viewpoints of eight senior managers, from environmental enforcement agencies (EEAs), who represent seven countries and collectively are involved in fourteen networks. Using a predominantly...

In the absence of constraints on the state based on rule of law, there is a dilemma facing the state: when the state has the incentives to enforce contracts, it also has the incentives for predation. We demonstrate that information available to the state can determine the outcome in such a...

We use a spatial model of endogenous growth to investigate the likely impact of discriminatory integration among two advanced countries on their own welfare as well as on the welfare of an outsiders transition economy. On the one side, since per capita income convergence depends on relative...

The use of agent based modeling in economics is a step forward enabling a more realistic description of the complex interactions and behaviors present in the economic environment. Although it offers increase realism especially in describing how local characteristics generate global patterns it...

The deterrence hypothesis predicts that the introduction of a penalty that leaves everything else unchanged will reduce the occurrence of the behavior subject to the fine. We present the result of a field study in a group of day-care centers that contradicts this prediction. Parents used to...