The prize system for innovation has been criticized as impractical due to the lack of a workable formula or algorithm to determine the size of prizes. In this paper, a decentralized market mechanism via the intertemporal bounty (IB) system can function to duplicate Pareto optimality. Under this...

The purpose of this paper is to analyse the decline in private investment and formulate a comprehensive strategy to overcome this problem, which is the main cause of deceleration in the growth momentum of Pakistan’s economy. Due to lack of investor confidence, private investment has reached...

The role of productivity in accelerating the pace of economic growth is well recognized in economic literature and this paper shows that Pakistan’s case is no exception. The purpose of the paper was also to see the effect of government fiscal policy, monetary policy and other economic measures...

The prize system for innovation has been criticized as impractical due to the lack of any workable formula or algorithm to determine the size of prizes. In this paper, a decentralized market mechanism via the intertemporal bounty (IB) system can function to duplicate Pareto optimality. Under...