India’s halting attempts at privatisation and its preference, for the most part, for disinvestment have been roundly criticised by many as being inadequate. A more aggressive privatisation drive, it is contended, would make for superior economic performance. In popular discourse, China’s...

In this paper we propose a new solution to bargaining or group decision problems, which requires an arbitrator to choose that point on the Pareto frontier of the feasible set where losses in utility from the ideal point are equal for all the agents. The solution is motivated by ones already...

Learning by examples is a commonly used method of knowledge acquisition in expert systems. The learning examples are past cases whose classification is known. When the number of classes is high, learning relationships amongst classes aids in sequential classification and therefore results in...

In this paper, we take up the outstanding problem of axiomatically characterizing what we have referred to in the paper as the additive choice function on the classical domain for choice problems. Apart from an impossibility result for the additive choice function, there is an axiomatic...

In this paper, we define and study the simplest problem in optimal control theory, with differential inequalities determining the evolution of state variables. We prove necessary and sufficient conditions for optimality.

Capital Markets are an important mobilizer of resources for the corporate sector. Investors’ confidence is key to the healthy developments of capital markets, it is necessary that comprehensive and adequate laws exists to regulate security industry to protect investors interests and rights....

The purpose of this paper is to first briefly discuss the main elements of costs in agricultural finance operations of formal agencies. Secondly, the sources of high administrative costs are identified. And finally a strategy is proposed for reducing these high costs. These objectives are...

This paper takes an overview of two prime concerns of corporate management in the recent times, viz., shareholder value management and corporate restructuring. The paper begins with a brief discussion on the emergence of shareholder value management as the main raison d’etre of corporate...

Results on long-run stability of M1 and M3 money multipliers in India are presented after the BoP crisis. Allowing for in-sample regime switching it is found that M3 money multiplier can be characterized by a one-time regime shift around the beginning of 1997, the time when money markets reform...

In this paper we discuss the stylised problems relating to water and irrigation in India and argue that most of the inefficiencies, misuse and environmental damage have their roots in the mispricing of water and electricity. Since the only kind of subsidies thus far used are price based input...