To be able to describe informal rural credit markets, we apply the Brock and Scheinkman model of a price setting and capacity constrained oligopoly, where firms tacitly collude on monopoly pricing. We generalise the model to allow for third-degree price discrimination. The interval of aggregate...

A special class of cooperative transferable-utility games where each agent faces an optimization problem constrained by resources that can be pooled among coalition members, so-called production games, are here extended and applied in novel ways. First, I relax linearity requirements; second, I...

The study examines differences in consumption and economic behaviour among male and female heroin users. The consumption pattern of the heroin addicts vary by gender, with females consuming relatively less alcohol and cannabis but significantly more heroin than their male counterparts.

Motivated by non-cooperative games we study repeated interaction among non-communicating agents, each dealing with his black of variables, each moving merely on the bases of his marginal payoff and its most recent change. Adjustment of play thus unfolds in parallel. Constrants are accommodated....

We model repeated play of noncooperative stage games in terms of approximate gradient steps. That simple format require little information and no optimization. Moreover, it allows players to evaluate marginal cost or profit inexactly and to move with different velocities. Uncertainty can also be...

I analyse producers' choice of optimal distribution systems ina setting with two producers of differential products and two identical retailers.

Generational accounting is a relatively new method of long-term fiscal planning and analysis. This paper presents a selection of the latest generational accounting results for 22 countries.

The purpose of this article is to explain the decrease in the fixed exchange rate regimes we have experienced the last decades. Our econometric approach is duration analysis, and the explanatory variables used are taken from the literature on optimum currency areas. The sample consists of 51...

Social capital is a topical concept in economic development. The idea is that differential economic success can be explained in terms of differences in various social variables that are called social capital. My criticism is that this hypothesis, as it stands now, is too vague to help us...

Accomodated here is a measure space of economic agents, each regarded as a profit maximizing producer, each endowed with his technology and resource bundle. Pooling of private endowments generates a cooperative game with side payments.