In this paper we consider a general equilibrium model with a finite number of divisible and indivisible commodities.In models with indivisibilities it is typically assumed that there is only one perfectly divisible good, which serves as money.The presence of money in the model is used to...

In markets where consumers have switching costs and firms cannot price discriminate, firms have two conflicting strategies. A firm can either offer a low price to attract new consumers and build future market share or a firm can offer a high price to exploit the partial lock-in of their existing...

A monopolist is treated as a nexus of contracts with team production. It has one owner-manager who is the employer of two employees. A team production problem is present if the employer is a “managerial lemon.” If the team production problem is solved, the employer is a “managerial...

The paper seeks to integrate the theoretical developments in the field of imperfect competition and monopoly, and operation of the firm in such conditions, with the theories of income distribution, particularly among the macroeconomic aggregates of capital and labor. And formulating a working...

The aim of our study is to analyze the factors that affect performance of the cement sector focusing particularly on Pakistani firms. The study further finds the impact of size on performance, to examine the relationship between age of the firm and firm performance, to measure the effect of...

This article examines the methodological aspects and methods of transfer pricing in Ukrainian banking institutions. It explores the approaches used to define the functions of transfer pricing from the perspective of pricing theory and enterprise economics theory. It reviews the international and...

The paper uses the 1992 household survey for Bulgaria to show poor revenue performance of the income tax structure prevailing in 1992, which did not take into account the underlying distribution of income. The paper shows that Bulgaria can benefit from a much lower and simpler income tax rate...

The question this paper addresses is whether a government can regulate a Cournot oligopolist market to give higher level of welfare without changing either the strategic variable (output quantity) or the way prices are determined (by an auctioneer). The problem is set as a two- stage game played...

In this paper, we study an auction where bidders only know the number of potential applicants. After seeing their values for the object, bidders decide whether or not to enter the auction. Players may not want to enter the auction since they have to pay participation costs. We characterize the...

Une importante littérature empirique est dévolue à la question du lien entre les facteurs financiers et les performances économiques des firmes. Dérivées du rejet de l’hypothèse classique de non incidence de la structure financière sur la dépense ou inscrites plutôt dans une logique...