The main issue of this article is to discuss the question of ‘precarity’ in the context of the theory of social quality (see Beck et al, 2001), with which to pave the way for developing further the theoretical foundation of precarity. Societal practice is the main challenge this concept...

In a pure exchange smooth economy with fixed total resources, we de- fine the length between two regular equilibria belonging to the equilibrium manifold as the number of intersection points of the evolution path connecting them with the set of critical equilibria. We show that there exists a...

Pricing costs and information problems are introduced into a framework with consumer-producers, economies of specialization, and transaction costs to predict the endogenous and concurrent evolution in division of labor and in the information of organization acquired by society. The concurrent...

We consider a general model of pure exchange economies with consumption externalities. Households may have different consumption sets and each consumption set is described by a function called possibility function. Utility and possibility functions depend on the consumptions of all households....

The analytical starting point determines the course of a theoretical investigation and, ultimately, the productiveness of an approach. The classics took production and accumulation as their point of departure; the neoclassics, exchange. Exchange implies behavioral assumptions and notions like...

In this paper we will consider a setting where a large number of agents are trading commodity bundles. Assuming that agents of the same type have a certain utility attached to each transaction, we construct a statistical equilibrium which in turn implies prices on the different commodities. Our...

An exchange economy in which agents have convex incomplete preferences defined by families of concave utility functions is considered. Sufficient conditions for the set of efficient allocations and equilibria to coincide with the set of efficient allocations and equilibria that result when each...

High frequency arbitrage opportunities arise when the price of one asset follows, with a lag, changes in the value of another related asset due to information arrival. These opportunities are toxic because they expose liquidity suppliers to the risk of being picked off by arbitrageurs. Hence,...

En tiempos de crisis económicas, con altas tasas de paro, no debemos desconsiderar ninguna política susceptible de crear empleo. La reducción de la jornada laboral es una de ellas. La aplicación de cualquier política puede tener consecuencias distintas si se aplica en contextos diferentes....

Centralized and coordinated school assignment systems are a growing part of recent education reforms. This paper estimates school demand using rank order lists submitted in New York City's high school assignment system launched in Fall 2003 to study the effects of coordinating admissions in a...