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We examine the implications for social choice of individuals having an intrinsic sense of fairness. Taking the viewpoint that social justice reflects the moral attitudes of the constituent members, we analyze the effect of the intensity of the individual sense of fairness on university admission...

This paper presents a new stage-of-fabrication inventory model with ordering usage and stocking of input materials under gross production or value added technology The model extends the traditional linear-quadratic model of output (finished goods) inventories and yields joint decision rules for...

To explore the efficacy of a corporate leniency program, a Markov process is constructed which models the stochastic formation and demise of cartels. Cartels are born when given the opportunity and market conditions are right, while cartels die because of internal collapse or they are caught and...

We estimate a small-scale, structural general equilibrium model of a small open economy using Bayesian methods. Our main focus is the conduct of monetary policy in Australia, Canada, New Zealand and the U.K., as measured by nominal interest rate rules. We consider generic Taylor-type rules,...

This paper addresses the question of whether recent findings of nonlinearities qhave been contaminated by possible shifts in the distribution of the first differences of the logarithms of stock prices indexes The paper develops a testing methodology that formally attempts to discriminate between...