If firms demand heterogeneous working qualifications, each has to decide whether to choose its preferred qualification and be incompatible to other firms' qualifications or to standardize and choose the same qualification as other firms. The model analyses whether advanced training, which...

This paper applies n-person cooperative game theory to analyze the efficient cost allocation problem of a three communities contructing a common sewage system.

The paper elaborates the productivity paradox of information technology in order to find an answer to the question of why, contrary to expectations, the correlation between expenditures in information technology and economic growth is not ambiguous. To formulate an answer, the paper focuses on...

The discussion of power measures and fairness concepts follows two isolated strings of thought that have rather different traditions. This paepr argues that it is exactly this restriction that confuses the discussion. By making use of the theory of power indices and Binmore's theory of justice,...

Social conventions and norms can be modeled as equilibria of coordination games. it is argued that the critical mass necessary for a society to move from one convention, that is from one equilibrium, to another changes correspondingly with changes in the population structure due to generation...

We analyse the long-run equilibrium and adjustment dynamics in three popular models of economic growth when property rights are absent. The results are compared to the outcome in the corresponding economy with secure property rights.

This paper analyzes the growth and employment effects of dynamic fiscal policies in an overlapping generations model with endogenous growth and imperfect labour markets. With balanced-budget policies, the modelled closed economy grows at a constant rate which is the higher, the lower are the...