The article proposes an enabling mechanism for the creation, adjustment and dissolution of governmental units, giving autonomy to each individual as in a direct democracy. The mechanism is designed such that Pareto optimality is possible, in contrast to earlier models which make various...

The article provides a theoretical framework of international unions in the form of a two-stage game with discounting aimed at generating propositions about widening versus deepening in the integration process. Each player has a preference for a set of regulations. Regulatory differences between...

1 Introduction.- 2 Transmission Channels for Quantitative Easing and Effects on Interest Rates -- 3 The Central Bank Loss Function and Quantitative Easing as a Stackelberg Game -- 4 The Effect of Quantitative Easing on Interest Rates -- 5 Broader Economic Effects on Quantitative Easing -- 6...

We build an analytical framework to model the strategic interactions between a firm and hackers. Firms invest in security to defend against cyber attacks by hackers. Hackers choose an optimal attack, and they share information with each other about the firm's vulnerabilities. Each hacker prefers...