Rubinstein Safra and Thomson (1992) introduced the Ordinal Nash Bargaining Solution. They proved that Pareto Optimality, Ordinal Invariance, Ordinal Symmetry, and IIA characterize this solution. They restrict attention to a domain of social choice problem with an infinite set of basic...

This paper attempts to provide an explanation for the productivity paradox. We show how this paradox may emerge in oligopolistic markets.

This paper constructs a model of the provision of commercial music in which some consumers (enthusiasts) enjoy diversity and others (faddists) prefer to follow what is popular. Record companies sign up bands, only some of whom will 'succeed' - a process modelled in a number of alternate ways -...

In this paper we present a set of axioms guaranteeing that, in exchange economies with or without indivisible goods, the set of Nash, Strong and active Walrasian Equilibria all coincide in the framework of market games.

In this paper we present a set of axioms guaranteeing that, in exchange economies with or without indivisible goods, the set of Nash, Strong and active Walrasian Equilibria all coincide in the framework of market games.

Since the 1970's most industrialized countries have undertaken massiveinvestment in computers and information technology (IT). Several stylizedfacts emerge from the empirical studies, see Landauer, 1993. In particular,they have found that this investment has not lead to a general increase...