The analysis of a world of equals model, while admittedly unrealistic, did yield several new and interesting theorems, especially theorems 4, 5, and 6. The tendencies described by these models continue to hold in some cases in which populations are not perfectly homogeneous. One may conjecture...

Citizens often misperceive the nature of risks they face and the impacts of alternative actions on those risks. For example, consumers may underestimate the probability of flood in their area, or they may underestimate the beneficial effect of passive restraints on the likelihood of automobile...

It is possible that a budget breaking incentive scheme may not solve the problem of moral hazard in team production, due to an incentive for a principal to cheat on such an agreement. This is a problem common to incentive schemes which result in an unbalanced budget, which include among them...