We model group formation as a response to relative deprivation. We employ two measures of relative deprivation. We show that in the case of each of these measures the process of deprivation-induced self-selection into groups reaches a steady state, and that the steady-state distribution differs...

Quite often established migrants offer assistance and support that facilitate the arrival of new migrants. Why would migrants want other migrants to join them - so much so as to be willing to pay for them to come? We suggest a rationale. Our modeling framework is capable of explaining several...

We model group formation as a response to relative deprivation. We employ two measures of relative deprivation. We show that in the case of each of these measures the process of deprivation-induced self-selection into groups reaches a steady state, and that the steady-state distribution differs...

This paper challenges the prediction of Todaro's model of rural-to-urban migration that an ‘increase in urban employment increases urban unemployed.’ It is shown that if the urban demand for labor is isoelastic or inelastic, creation of urban jobs causes urban unemployment to decline and...

The purpose of this paper is to provide a general proposition of the relationship between altruism and risk taking. As explained in the body of the paper, we diverge from a result reported in Stark et al. (2022) and provide an expansion and a generalization of a preliminary result reported in...

We develop a formula for the optimal size of a joint savings association between individuals who share the same financial goal and who can save towards that goal at the same rate. Our motivating example and the core of our analysis is a Rotating Savings and Credit Association (ROSCA). We measure...

We develop a formula for the optimal size of a joint savings association between individuals who share the same financial goal and who can save towards that goal at the same rate. Our motivating example and the core of our analysis is a Rotating Savings and Credit Association (ROSCA). We measure...

In this paper we consider a population of would-be migrants in a developing country. To begin with, this population is divided into two sets: those who save by themselves to pay for the cost of their migration, and those who pool their savings with the savings of another would-be migrant to pay...