With respect to the labor market participation of the elderly in welfare states, the economic literature focuses on the incentives to the worker in the light of generous early retirement opportunities. The sociological literature on the other hand addresses the problem of low productivity of...

Countertrade agreements in international trade refer to a practice in which an exporter agrees to purchase in the future, from the importer, commodities proportional to his original export sale. The paper analyzes why it might be efficient for agents to undertake trade through a reciprocal...

The paper compares two models of evolution in symmetric two-player games with incomplete information. One model postulates that the type of a player is fixed, and evolution works within types. In the other model type-contingent strategies evolve. In the case of two types and two strategies it is...