This paper supposes an individual cares about his/her own wealth not only directly but also via the relative standing that this wealth induces. The implications for risk-taking are investigated in particular. Such a model provides a natural explanation of the "concave-convex-concave" utility...

This paper presents an unconventional argument based on population growth to bolster marginal productivity theory. There is an economy with a single output produced from a number of different types of labor. Each type of labor is reproduced from that type itself and from the amount of the output...

This paper advocates a generalized N-firm Stackelberg model as a plausible testable alternative description of oligopoly. A pure-strategy equilibrium must exist for this model. The main result is that efficiency obtains in the limit as the scale of each firm is shrunk relative to demand. This is...