Purpose – Individuals earn their income from different sources in an economy. Persons being engaged with different occupations have different income levels. Welfare level thus varies from person to person. Obviously an indignant feeling arises out of interpersonal shortages of income which is...

Countries are linked through trade and for their mutual benefits they often group together. Consequently, trade blocs are formed in some form or another, examples of which are the EU, EFTA, ASEAN, NAFTA, and SAARC. Depending upon the form and the nature of the grouping, trade relations among...

The economic development of oil importing countries creates an increased demand for oil. This results in higher prices and an increased surplus to producers. A buyers' cartel would be a mechanism by which the US (in association with other importing countries) could retain (all or a part of) this...

Critics of EMH have for years argued that the volumes of equity traded are quot;too much.quot; Prior research has, however, not quantified the volumes implied by rational trading. In this paper we present estimates of equity volumes produced by a rational exchange economy model in which agents...

The major argument against climate change treaties (like the Kyoto Agreement) is that they would reduce economic activity. On the contrary, in this paper we show that a revenue neutral tax on crude (returned as a lump sum payment to consumers) would achieve a reduction in consumption of oil (to...