The object of this chapter is to explain the decline of the law of contract in matter of bankruptcy. The historical evolution of the law of bankruptcy shows that this decline is gone by three phases : the phase of the natural law based on the nature to solve the conflict ; the phase of the...

Based on the frictional matching framework, the paper provides a theoretical model for a specic type of two-sided platform: The buyer- seller transaction platform. In the model, the number of participants and the source of network externalities are endogenously determined. The platform is shown...

Existing economic literature provides contradictory or insufficient explanations of relation between income inequality and economic growth. I propose that the reason is that the authors fail to consider fundamental forces which have given occasion to the variables and historical background of...

In this paper we first develop a theory of almost stochastic dominance for risk-seeking investors to the first three orders. Thereafter, we study the relationship between the preferences of almost stochastic dominance for risk-seekers with that for risk averters.

Agryfood system in Umbria is very particular: the Region presents specifics characteristich about its rural territory and conseguently there are many unique and inimitable products. Moreover the agricultural and rural sectors significantly contribute to tehe local economy. This paper aims to...

In this note, we construct a four sector static general equilibrium model of a small open economy with special consideration to the incidence of child labour. The paper examines the impact of FDI on the output levels of different sectors and also on the incidence of child labour. Here we have...

The paper examines and explains why estimates of systematic risk (beta coefficient) shift the time-interval used to measure returns changes

This study examines whether bubbles are present in the Stock Exchange of Thailand. Three different methods are employed: variance bounds test, equity price bubbles test, and cointegration tests. The results from the variance bounds tests show that stock prices (proxied by the stock market index)...

The present paper reviews the different methods in practice to measure the human development or deprivation, which, in fact, is an emerging part of the development discourse. Specifically it deals with the problems of comparability, aggregation and weighing the dimension/indicators in composite...

The estimated Vector AutoRegressive (VAR) model is sensitive to model misspecifications, such as omitted variables, incorrect lag-length, and excluded moving average terms, which results in biased and inconsistent parameter estimates. Furthermore, the symmetric VAR model is more likely...