A comprehensive model of economic household decision is presented which incorporates both fully cooperative and fully non-cooperative variants, parameterized by the income distribution, as well as a semi-cooperative variant, parameterized in addition by a vector B, representing the degrees of...

Since the seminal work of Becker, the dynamics of endogenous fertility has been based on the trade-off faced by parents between the quantity and the quality of their children. However, in developing countries, when child labor is an indispensable source of household income, parents actually...

In Keynes’ beauty contest, agents have to choose actions in accordance with an expected fundamental value and with the conventional value expected to be set by the market. In doing so, agents respond to a fundamental and to a coordination motive respectively, the prevalence of either motive...

The paper suggests a new Keynesian model of the General Theory. A reduced form entails a diagram with three curves relating employment and the real wage, which represent the two fundamental classical postulates and the principle of effective demand. This diagram illustrates better than IS-LM the...

We present a comprehensive model of household economic decision covering both full cooperation and noncooperation as well as semi-cooperative cases, varying with income distribution and a parameter vector <InlineEquation ID="IEq1"> <EquationSource Format="TEX">$$\theta $$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <mrow> <mi mathvariant="italic">θ</mi> </mrow> </math> </EquationSource> </InlineEquation> representing degrees of individual autonomy with respect to the...</equationsource></equationsource></inlineequation>

A simple general equilibrium model of imperfect competition is introduced with special attention given to the labour market. An extended Cournot equilibrium is defined for any money wage taken as given by the producers. Under some assumptions involuntary unemployment may arise, that is...

Competitive aggressiveness is analyzed in a simple spatial oligopolistic competition model, where each one of two firms supplies two connected market segments, one captive the other contested. To begin with, firms are simply assumed to maximize profit subject to two constraints, one related to...