We analyze the Hotelling-Downs model of a winner-take-all elections with sequential entry where n 2 'office-seeking' candidates with privately known qualities arrive in an order to announce platform commitments and voters receive partially informative exogenous signals about quality of each...

This paper introduces two new concepts in evolutionary game theory; Nash equilibrium with Group Selection (NEGS) and Evolutionary Stable Strategy with Group Selection (ESSGS). These concepts generalize Maynard Smith and Price (1973) to settings with arbitrary matching rules, in particular they...

We study an overlapping generations economy in which environmental degradation results from economic activity and affects agents' uncertain lifetimes. Life expectancy depends positively on economic activity and negatively on the stock of pollution. This can make the growth-survival relationship...

This paper studies the interaction of agents' collateral price beliefs, credit constraint and aggregate economic activity over the business cycle. Learning strengthens the role of collateral constraints in aggregate fluctuations. Under Heterogeneous learning rules, numerical simulations...

Green growth is increasingly being seen as a means of simultaneously meeting current and future climate change obligations and reducing unemployment. This paper uses detailed industry-level data from the Bureau of Labor Statistic's Green Goods and Services survey to examine how the provision of...

We re-examine the probabilistic foundation of the link between Z-score measures and banks' probability of insolvency, offering an improved measure and banks' probability of insolvency, offering an improved measure of that probability without imposing further distributional assumptions. While the...

We conduct the first high-frequency comparison of pricing behaviour in betting markets making use of a novel dataset of prices from the UK's two largest bookmakers and the world's largest betting exchange. We investigate price competitiveness, finding that the betting exchange structure offers...

This article uses automatic model selection procedures, based on the gernal-to-specific approach, to investigate inflation in China. A novelty of this article is the use of a technique called impulse indicator saturation which allows us to uncover instabilities and to specify a general model and...

The paper provides a theory of war and conflict issues, and applies the theory to the arms race and the possibility of war in the South Asian subcontinent. We try to give a new perspective on an old question: wars are not rational since they destroy the contestable resource over which disputes...