I present the economic principles of water allocation and pricing in a schematic water economy representing a wide range of real-world situations. The water policy has inter- and intratemporal components. The former determines extractions from the naturally replenished sources, given the...

The diversifying power of inflation-linked (IL) bonds relative to traditional asset classes has changed significantly. In this paper, we study the dynamics of conditional volatilities and correlations for three asset classes, IL bonds, nominal bonds and equities, in the USA and Europe. Using a...

This paper provides sufficient and necessary conditions for the existence of equilibrium pricing rules for monetary utility functions under convex consumption constraints. These utility functions are characterized by the assumption of a fully fungible numeraire asset ("cash"). Each agent's...

In this paper, we propose a location model for the optimal organization of transplant system. Instead of simulation approach, which is typical when facing many health care applications, our approach is distinctively based on a mathematical programming formulation of the relevant problem. In...

The problem of poverty and inequality measurement in contemporary Russian society is considered within the framework of the general problem of social tension reduction via efficient organization of the social assistance system. We argue that features specific to Russian transition stipulate that...

While the mainstream of Western economic thought believes in competitive markets, the Schumpeterian school considers concentrated industry to be the ideal vehicle for the advancement of industrial technology. Empirical evidence on the Schumpeterian hypothesis that a concentrated industry...