We characterize the set of extreme points monotonic functions that are either majorized by a given function f or themselves majorize and show these play crucial role in many economic design problems. Our main results each point is uniquely characterized countable collection intervals. Outside intervals equals original inside constant. Further consistency conditions need to be satisfied pinning ...

Scholars have pointed to ethnic and other social divisions as a leading cause of economic underdevelopment, due in part to their adverse effects on public good provision and collective action. We investigate this issue in post-war Sierra Leone, one of the world’s poorest countries. To address concerns over endogenous local ethnic composition, and in an advance over most existing empirical work,...

Economists were interested in economic stabilization policies as early as the 1930’s but the formal applications of stability theory from the classical control theory to economic analysis appeared in the early 1950’s when a number of control engineers actively collaborated with economists on economic stability and feedback mechanisms. The theory of optimal control resulting from the contributio...

OBJECTIVE To evaluate the quality of economic data provided in applications to the World Health Organization (WHO) Model List of Essential Medicines and to evaluate the role of these data in decision-making by the expert committee that considers the applications. METHODS We analysed applications submitted to the WHO Expert Committee on the Selection and Use of Essential Medicines between 2002...