a jurisprudence and legal survey of claiming damages exceeding wergild (diyeh) in mandatory insurance law   mehdi gaemi [1] hormoz asadi kuh bad [2]   abstract the basis of possibility of claiming damages surplus to wergild under mandatory insurance law is one of the important topics investigated in the current article. it is neither purely permitted nor purely an issue of damage payment, but r...

We present a continuous-time generalization of the seminal R&D model of d’Aspremont and Jacquemin (The American Economic Review 78(5): 1133–1137, 1988) to examine the trade-off between the benefits of allowing firms to cooperate in R&D and the corresponding increased potential for product market collusion. We consider all trajectories that are candidates for an optimal solution as well as initi...

Abstract Public investigations can be important fact-finding mechanisms empowered to scrutinize instances of government corruption. But in the small states Anglophone Caribbean, opposite is true, and these institutions become political tools used avoid accountability. By concentrating unchecked discretion prime minister, Westminster system empowers governments establish controlled lacking essen...

This paper studies a robust version of the classic surplus extraction problem, in which designer knows only that beliefs each type belong to some set, and designs mechanisms are suitable for all possible set. We derive necessary sufficient conditions full this setting, show these natural set-valued analogues convex independence condition identified by Crémer McLean ( 1985 , 1988 ). is neither g...

We examine a model in which an upstream firm can sell directly online and through heterogeneous intermediaries to heterogeneous consumers engaging in time-consuming search. Direct online sales may be more or less convenient and involve costly returns if the good fits consumers poorly. Direct selling appeals to higher-value consumers and increases the upstream firm’s profits by allowing price di...

This paper considers why "rms often ban monetary exchange between their employees, while encouraging these trades through other means, such as through the reciprocation of favours or barter. Despite classical ine$ciencies associated with non-monetary exchange, we illustrate two themes as to why non-monetary trade may be preferred to allowing money. First, the use of non-monetary trade may a!ect...

The labor surplus economy model has as its basic premise the inability of unskilled agricultural labor markets to clear in countries with high man/land ratios. In such situations, the marginal product of labor is likely to fall below a bargaining wage, related to the average rather than the marginal product. The reallocation of such disguisedly unemployed workers by means of “balanced” intersec...

This paper demonstrates that the economic surplus which agents produce in bilateral interactions is extractable by an outside party having sufficient initial resources. The third party achieves this outcome using a class of ‘‘exclusive-interaction’’ contracts. A basic extractability result is shown to be robust to several extensions: competition among outside parties, multiplicity of interactin...