ABSTRACT Medellín became the capital city of Antioquia when a change in the production paradigm was established: the change of mining to agricultural and livestock production farm, which allowed the emergence of a fledgling industry in a city that, did not have the features expected to be...

Using the principal-agent- supervisor paradigm, this paper examines the occurrence of collusion in a setting where the principal has no information about the supervisor and the agent does not necessarily know the supervisor’s preferences. We formally prove the occurrence of collusion is more...

Information technologies have a deep impact on companies and their strategy especially now in so called postindustrial era. A company in sophisticated sector as service sector is strongly influenced by information technologies and must adapt to new rules or at least to new tools to not to lose...

When allocating a resource, geographical and infrastructural constraints have to be taken into account. We study the problem of distributing a resource through a network from sources endowed with the resource to citizens with claims. A link between a source and an agent depicts the possibility...

This study empirically estimates the determinants of aggregate voter participation rates between 1960 and 1996 using instrumental variables. Other things equal, an increase in the public’s dissatisfaction with politicians decreases voter participation, an increase in the highest marginal tax...

This paper is aimed at highlighting how common law has evolved over the centuries, namely through the flexibility accorded to judicial precedents, as well as through the evolutionary nature evidenced in the processes and rules applied in statutory interpretation. In addition to illustrating how...

The main goal of this paper is to analyze the level of development in the Agribusiness of the Brazilian region South for the years of 1985, 1990 and 1995; using inter-regional input-output analysis. The results obtained show: how the Agribusiness is structured inside the regions; and how the trade...

We present data characterizing the U.S. labor market during the Great Recession and subsequent recovery. U.S. employment declines were dramatic among young adults, substantial among prime-aged adults, and modest among those near retirement. The decline in employment among working-age adults...

In the present paper, a new approach to equilibrium selection for very general normal form games has been constructed by introducing stochastic optimal stopping theory into classical evolutionary game theory. That is, the new game equilibrium is induced by both stochastic group evolution and...

In this study we employed the ARDL bound test in order to detect cointegration relation of oil price and oil price fluctuation with GDP, exports and inflation in Pakistan. Our results confirmed cointegration among the variables when GDP was considered as dependent variable, while in case of...