This paper presents a new cooperative equilibrium for strategic form games, denoted Conjectural Cooperative Equilibrium (CCE). This concept is based on the expectation that joint deviations from any strategy profile are followed by an optimal and noncooperative reaction of non deviators. We show...

This paper presents a new cooperative equilibrium for strategic form games, denoted Conjectural Cooperative Equilibrium (CCE). This concept is based on the expectation that joint deviations from any strategy profile are followed by an optimal and noncooperative reaction of non deviators. We show...

The present analysis addresses the apparently critical issue of circulation of wealth in society. Three actors play the game of welfare-related taxation. The first actor, in the role of Negotiator No.1, stands up for citizens’ legal and moral rights to primary needs. The second actor, in the...

We consider a model of a single defendant and N plaintiffs where the total cost of litigation is fixed on the part of the plaintiffs and shared among the members of a suing coalition. By settling and dropping out of the coalition, a plaintiff therefore creates a negative externality on the other...

Abstract: Economic studies on migration of skilled labor are mainly related to those trained in the country of origin but are increasingly including students trained abroad that return or not to their home countries. There are incentives and constraints that are provided by both origin and...

The scientific practice, in the several social sciences, cannot be implemented without the researcher clearly defines in depth the theoretical and meta-theoretical foundations that underpinning the research. Similarly, the unambiguous understanding of the concepts, in view of the...

This paper considers the pros and cons of establishing stock markets in Sub-Saharan African economies at the present stage of their development. It provides theoretical analysis and empirical evidence from both developing and advanced countries to argue that for many African countries such a...

Conceptual overview, critical commentary and future directions