The issue of power plays a relevant role in evaluating the representativeness of a Parliament. In this paper a new governability index is introduced, taking inspiration from the propensity to disruption and referring to the power of the parties.

The Finnish National Election Study of 2003 revealed that in Finland most voters do not identify with parties and are self-described as independents. In this article it is asserted that partisan attachments affect Finnish parties’ optimal positions despite the large amount of independents. To...

We study how barter exchanges should be conducted through a centralized mechanism in a dynamically evolving agent pool with time- and compatibility-based preferences. We find the dynamically optimal two-way and multi-way exchange mechanisms that maximize total discounted exchange surplus....

Whether incentive contracts perform better than trust in terms of productiveefficiency is usually explored by principal-agent experiments (mostinvolving only one agent). We investigate this issue in the context of athree-person ultimatum experiment, which is simpler and more neutrallyframed than...

We analyze the effects of introducing asymmetric information and expectations in the investment game (Berg et al., 1995). In our experiment, only the trustee knows the size of the surplus. Subjects' expectations about each other's behavior are also elicited. (...)

The aim of the paper is to compare the sensitivity of a government's fiscal policy and a central bank's monetary policy, which are in Nash equilibrium in the case of a non-cooperative game between the government and the central bank in Czechia, Hungary, and Romania. The analysis for each country...

This analysis reveals the restricted scope of approaches which utilise arbitrage based arguments toprice contingent claims whose payoffs are determined by the outcome of non-zero-sum valuationgames between financial market participants. Many examples of such model formulations can befound, for...