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The Private and Social Value of Information and the Reward to Inventive Activity
Publisher Summary This chapter discusses the private and social value of information along with the reward of inventive activity. The individual is always fully acquainted with the supply–demandExpand
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Conflict and rent-seeking success functions: Ratio vs. difference models of relative success
The rent-seeking competitions studied by economists fall within a much broader category of conflict interactions that also includes military combats, election campaigns, industrial disputes,Expand
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From weakest-link to best-shot: The voluntary provision of public goods
It has traditionally been assumed that the socially available amount X of a public good is the simple sum of the separate amounts xi produced by the i = 1, ..., I members of the community. But thereExpand
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On the Economics of Transfer Pricing
TN ORDER to achieve the benefits of decentralization in decision-making, many corporations have developed divisional organizations in which some or all of the separate divisions are virtuallyExpand
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The analytics of uncertainty and information
There has been explosive progress in the economic theory of uncertainty and information in the past few decades. This subject is now taught not only in departments of economics but also inExpand
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The Technology of Conflict as an Economic Activity
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The analytics of continuing conflict
Individuals, groups, or nations — if rational and self-interested — will be balancing on the margin between two alternative ways of generating income: (1) “peaceful” production and exchange, versusExpand
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The Macrotechnology of Conflict
Decision makers must balance between two classes of economic activities: production and conflict. Analogous to the familiar technology of production and exchange is the technology of conflict andExpand
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On the Theory of Optimal Investment Decision
This article is an attempt to solve (in the theoretical sense), through the use of isoquant analysis, the problem of optimal investment decisions (in business parlance, the problem of capitalExpand
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On the Emotions as Guarantors of Threats and Promises
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