We study a model with local public goods in which agents’ crowding e¤ects are formally distinguished from their taste types. It has been shown that the core of such an economy can be decentralized with anonymous admission prices (which are closely related to cost share prices). Unfortunately, such a price system allows for an arbitrary relationship between the public goods level in a given juri...

The present study attempts to examine the relationship found in empirical studies of macroeconomic variables namely, exchange rate, money supply, inflation, industrial production, foreign reserves and interest rate with stock market indices post-reform era liberalization. Classical economists argued that rates lead prices positive correlation whereas proponents portfolio-balance model argue tha...

We examine price competition under product-specific network effects, in a duopoly where the products are differentiated horizontally and vertically. When consumers’ expectations are not affected by prices, firms may share the market equally, or one firm (possibly even the low-quality one) may capture the entire market. When product qualities are different, we may also have interior asymmetric e...

BitCoin is a new digital currency that turned out to be quite interesting for the financial market. This has, in diverse manners, exhibited unique qualities comparison with other assets, which certainly means investors may face more concerns and tradeoffs than those who choose traditional investment opportunities. The present research paper primarily aims show importance of global markets highl...