We study a cobweb-type commodity market where n firms operate and characterised by a strictly monotone demand and supply. The firms are assumed to differ in a key parameter governing price expectations which we suppose to be adaptive. We characterise the unique steady state of the resulting...

The aim of this paper is to present some concepts and tools that can help policy makers to design policies for disabled persons. In the first part of the paper the principle of non dominated diversity is considered and the principle of maximum potential presented. In the second part the policy...

The aim of this paper is to enhance the capability framework by building the link between external and collective capabilities. In the first part of the paper we concentrate on human obligation and the “care relationship”. In the second we focus on external capabilities and their connection...

In this paper, we introduce a framework based on the capability approach of Amartya Sen as a base to analyse the concept of disability in a dynamic context for the disabled person. In the first part the base for equality among human beings is discussed and a critical review of disability models...

This paper introduces a framework based on the capability approach of Amartya Sen aiming at helping policy makers to formulate policies for disabled persons and bridging the gap between research and policy implementation. The proposed framework focuses on vulnerability in an inclusive,...

We study a procurement auction recently analysed by Gal-Or et al. (2007). In this auction game the buyer ranks different bids on the basis of both the prices submitted and the quality of each bidder that is her private information. We emphasise the similarity between this model and existing...

We consider a model with real assets and restricted participation described by household specific price dependent short selling constraints. We show existence of equilibria for all elements in an explicitly characterized large subset of the set of economies.

The clearest expressions of Marshallian external economies are found in the life and working of compact industrial districts. However Alfred Marshall did not limit their application to such types of places, nor to their territorial scale. This paper illustrates some important extensions found in...

Let $(S,\mathcal{B},\Gamma)$ and $(T,\mathcal{C},Q)$ be probability spaces, with $Q$ nonatomic, and $\mathcal{H}=\{H\in\mathcal{C}:Q(H)0\}$. In some economic models, the following conditional law of large numbers (LLN) is requested. There are a probability space $(\Omega,\mathcal{A},P)$ and a...

The paper analyzes the optimal delegation and ownership structure in a setting where the owner of a firm hires a manager to run the firm and to gather information on investment projects. The initial owner has two tasks: monitoring the manager and supervising project choice. Profits depend on...