We consider an economy with two agents, "firm" and "worker." The firm owns a technology which transforms a single input into a single output and the worker owns a limited amount of input good, for example, leisure. The firm is interested in profit measured in terms of output and the worker's...

We compare two prominent approaches to capital allocation in insurance firms. The financial theory approach includes Merton and Perold (1993) and Myers and Read (2001). The cooperative game theory approach utilizes concepts such as the Shapley value and the Aumann-Shapley value. We argue that,...

The magnetic properties of a decorated Ising system with a random field at the decorated atom are investigated by the use of the effective-field theory with correlations. In particular, the phase diagram and magnetization curve of the decorated ferrimagnetic honeycomb lattice are examined...