This paper presents a simple two-country model with mobile capital and immobile labour, in which there are two classes of individuals, the workers and the capital owners. A source-based tax on capital income is used to finance transfers to workers. If the two countries are homogeneous in all...

Within the framework proposed by Mussa and Rosen (1978)for mod- elling quality di .erentiation,we allow consumers to buy simultane- joint purchase .We show that this option dramatically a .ects price competition:while a unique equilibrium always prevails when consumers are assumed to make...

We define a new strategic equilibrium concept -called strong collusion- proof contract -designed to characterize stable communication agreements in games with differential information against non-binding, self enforcing and incentive compatible deviations by coalitions.We then construct a...

Our object of study is a multiclass queueing network (MQNET) which consists of a collection of (connected) single server stations. Exogenous arrivals into the system from independant poisson streams, service times are exponential and we have Markovian routing of customers between stations.

This paper proposes a new kind of asymmetric GARCh where the conditional variance obeys two different regimes with a smooth transition function. In one formulation, the conditional variance reacts differently to negative and positive shocks while in a second formulation, small and big shocks...