In this paper we introduce and analyze the procedural egalitarian solution for transferable utility games. This new concept is based on the result of a coalitional bargaining procedure in which egalitarian considerations play a central role. The procedural egalitarian solution is the first...

Following the British decision to leave the European Union, the question arises as to how relations should be conducted going forward. The objective of the negotiations between Great Britain and the EU is to ensure which strategy is best - both for the British and the EU. Another important...

Verbraucherschützer fordern häufig mehr Regulierungen, strengere Kontrollen und härtere Strafen bei Verstößen gegen die Verbraucherrechte. Doch sind Anbieter tatsächlich nur auf ihren Eigennutz bedacht und nutzen jede Möglichkeit der Selbstbereicherung aus? Anlässlich des...

I Introduction -- II From Reproduction To Evolution (1 Reproduction as Basic Perspective of Political Economy 2 Reproduction of What? 3 Subjects and Needs as Ontological Concept 4 Selection, Adaptation, and Innovation in Evolutionary Process 5 Evolutionary Rationality?)Appendix: Fisher's Theorem...

Information asymmetry has been a critical issue in management accounting. Non-co-linearity of interests among market participants brings forth this problem. As a decision making tool, firms should leverage out the benefits of management accounting system to encounter this problem, as it has a...

We develop a quantitative theory of business cycles with coordination failures. Because of demand complementarities, firms seek to coordinate production and multiple equilibria arise. We use a global game approach to discipline equilibrium selection and show that the unique equilibrium exhibits...