This paper studies the optimal disclosure of information about an agent's talent when it consists of two components. The agent observes the first component of his talent as his private type, and reports it to a principal to perform a task which reveals the second component of his talent. Based...

The random incentive system (RIS) is a standard incentive scheme used to elicit preferences in economic experiments. However, it has been speculated that RIS may not be incentive compatible when participants are concerned about ambiguity, i.e., that the choices observed under RIS do not reflect...

Although many studies in macroeconomics have examined the role of insurance in the presence of income risk, whether aggregate shocks are insurable has not been sufficiently investigated. We present a simple two-period general equilibrium model to show the conditions under which insurance against...

Preface -- Nature and dangers of statism -- The government from a sharia perspective -- Sharia free market model -- Zakat : a mandatory redistributive principle of a Sharia model -- Fiscal policy from a sharia perspective -- Nature of money in sharia -- On the nature of inflationary financing --...

This paper provides the first steps towards a theoretical and structural modelling framework through which optimal decision making in financial market infrastructures such as payments clearing and settlement systems can be assessed from a market microstructure perspective. In particular, the...