This paper studies dynamic information acquisition in financial markets with information asymmetry. It first shows that multiplicity can arise in the information market due to a dynamic complementarity in information acquisition. It then characterizes interactions between information...

We study the paper of Gao and Liu (2013). In the paper, the authors pay little attention to the customer's sojourn time in their model although both the queue length and the busy cycle are seriously analyzed. The objective of this note is to derive the sojourn time distribution of Gao and Liu's...

We study the paper of Gao and Liu (2013). In the paper, the authors pay little attention to the customer's sojourn time in their model although both the queue length and the busy cycle are seriously analyzed. The objective of this note is to derive the sojourn time distribution of Gao and Liu's...

Modern capitalist economies usually require some kind of compromisebetween capital's twin needs for flexible employees but confident consumers. Engaged in this process are different forms of labour market governance, and the different levels of strength with which trade unions can challenge the...

Advanced capitalism has been in a critical condition since the 1970sbut this was not taken seriously enough by the reformist Left. Looking back at the successive crises of inflation, public debt and financialization, and pointing to the related long-term trends of declining growth, rising...

Good economic performance is usually taken to mean high growthrates, cutting-edge competitiveness, regardless of distributional consequences. Call that EP 1. I argue that a better policy objective is EP2 - achieving a fast enough growth of productivity, combined with a distribution of the...