Based on first-hand account, this paper offers evidence on price setting and price adjustment mechanisms that were illegally employed under the Soviet planning and rationing regime. The evidence is anecdotal, and is based on personal experience during the years 1960–1971 in the Republic of Georgia. The description of the social organization of the black markets and other illegal economic activi...

This paper studies coalition formation under asymmetric information. An outside party o ers private payments in order to in uence the collective decision over an unpopular reform. The willingness to accept such payments is private information. The paper demonstrates that a supermajority coalition induces truth-telling and secures the implementation of the decision for a price close to the full ...

The management of pharmacotherapy and the process of dispensing medicines is becoming critical in clinical pharmacy due to the increase of incidence and prevalence of chronic diseases, the complexity and customization of therapeutic regimens, the introduction of innovative and more expensive medicines, the unbalanced relation between expenditure and revenue as well as due to the lack of rationa...

The lowering of the groundwater table causes the area above the water table to become unsaturated and capillary phenomena to appear in this zone. This means that the bearing capacity of shallow footings will be influenced by capillary stress or matric suction. In this research, the effect of groundwater table lowering on the bearing capacity of a shallow square model footing on dense sand has b...