Abstracts - faqs.org

Abstracts

Economics

Search abstracts:
Abstracts » Economics

Non-cooperative public-good provision and productivity differentials

Article Abstract:

The generality of a Rotten Spouse Theorem developed by Konrad and Lommerud (1995) was examined. The Rotten Spouse Theorem states that income transfers to the spouse with comparative advantage in the production of the household public good are Pareto improving and that an egoistic spouse with comparative advantage will prefer transferring income to the other spouse, resulting in increased welfare for both spouses. The theorem generalizes to an arbitrary number of agents but does not hold for general technologies for the production of the public good.

Author: Ley, Eduardo
Publisher: Blackwell Publishers Ltd.
Publication Name: Scandinavian Journal of Economics
Subject: Economics
ISSN: 0347-0520
Year: 1998
Models, Technology, Public goods, Income, Air pollution, Production (Economics)

User Contributions:

Comment about this article or add new information about this topic:

CAPTCHA


Robert Merton, Myron Scholes and the development of derivative pricing

Article Abstract:

The derivative pricing formula developed by Robert Merton, Myron Scholes and Fischer Black stands out from other formulas as it is an effective method for valuing a class of financial instruments that were considered unimportant for a time. The formula shows how risk premiums may be avoided in options pricing by factoring them in the stock price and how to construct such a 'riskless' portfolio.

Author: Schaefer, Stephen M.
Publisher: Blackwell Publishers Ltd.
Publication Name: Scandinavian Journal of Economics
Subject: Economics
ISSN: 0347-0520
Year: 1998
History, Appreciation, Derivatives (Financial instruments), Economists, Value (Economics)

User Contributions:

Comment about this article or add new information about this topic:

CAPTCHA


Rational choice in strategic environments: further observations

Article Abstract:

An analysis of Bernheim's 1986 paper on the requirements for rational choice in strategic environments reveals that the pair of rationalizable strategies does not belong to axioms 1,2 and 5 and that there is an axiom that is not always admissible. Bernheim points to optimization, consistency, in dependence and common prior as four possible requirements for rational strategic behavior.

Author: Forges, Francoise, De Wolf, Olivier
Publisher: Blackwell Publishers Ltd.
Publication Name: Scandinavian Journal of Economics
Subject: Economics
ISSN: 0347-0520
Year: 1998
Management science, Analysis, Comparative economics

User Contributions:

Comment about this article or add new information about this topic:

CAPTCHA


Subjects list: Economics, Methods
Similar abstracts:
  • Abstracts: Consumer activism, producer groups, and production standards
  • Abstracts: China's regional grain self-sufficiency policy and its effect on land productivity. Productivity growth, technological progress, and technical efficiency change in China: a three-sector analysis
  • Abstracts: Public infrastructure and private productivity: a stochastic-frontier approach. Wishes, expectations and actions: a survey on price formation in election stock markets
  • Abstracts: Thompson metric, contraction property and differentiability of policy functions. A turnpike theorem for continuous-time optimal-control models
  • Abstracts: Oligopoly price discrimination and resale price maintenance. Third-degree price discrimination in oligopoly: all-out competition and strategic commitment
This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.
Some parts © 2025 Advameg, Inc.