Working in a complete-markets setting, a property of asset demands in identified that is inconsistent with the investor's preference being based on probabilities. In this way, a market counterpart of the Ellsberg Paradox is provided.

Technological progress comes in waves. The birth of information technology (IT) may herald the start of a Third Industrial Revolution. This paper argues that (a) the market declined in the late 1960s because it felt that the old technologies either had lost their momentum or would give way to...

This essay reports (without attempting an exhaustive survey of the literature) on a body of formal research rooted in the models with which these authors were concerned : the model of bargaining, the model of coalitional opportunities, and the model of distribution of unproduced resources; and...

For the problem of adjudicating conflicting claims, a rule is consistent if the choice it makes for each problem is always in agreement with the choice it makes for each "reduced problem" obtained by imagining that some claimants leave with their awards and reassessing the situation from the...

We consider the problem of adjudicating conflicting claims. A rule to solve such problems is consistent if the choice it makes for each problem is always in agreement with the choice it makes for each "reduced problem" obtained by imagining that some claimants leave with their awards and...