This paper is motivated by a gap in the existing literature on mergers since no attempt has been successfully made to consider endogenous multiple mergers that trigger reciprocal mergers, which in turn fuel further mergers and the process continues ad infinitum. The precise contribution of this...

This book offers an extensive and original study of the dynamics of rivalry, evolution of costly and violent conflicts, and potential cooperation among powerful players. It unravels the special features of the global socio-economic system that can make it extremely fragile and vulnerable. It...

An important consensus today is that intolerance and social conflict have a substantial economic dimension. This article models a person’s “returns” to acts of intolerance in terms of social approval or disapproval that this person’s peer-group may offer. It is found that high levels of...

In economics destitution is traditionally interpreted as a product of labour market exclusion. Our work departs from the dominant models of poverty by considering destitution among a specific category of workers known as the working poor. Low wages and job insecurity in the informal sector in...

High income growth in many countries in East Asia and the Middle East has been accompanied by increasing income inequality and widening gaps between rich and poor, and urban and rural. It is therefore it is important to examine the interrelationships between inequality and economic growth. This...

An important consensus today is that intolerance and social conflict have a substantial economic dimension. This article models a person’s “returns” to acts of intolerance in terms of social approval or disapproval that this person’s peer-group may offer. It is found that high levels of...

We develop a model to examine regional, or geographical, allocation of defence spending in a nation, which is actuated by electoral motives of an incumbent government. We posit that the spatial impact of defence spending can be enormous as defence spending offers a host of local public goods to...

This paper presents a model of strategic manipulation in the context of an informational duopoly. The fact that market manipulation by these duopolists may affect their cost and demand structures implies that they can strategically manipulate the market in order to influence the information...