The problem of arriving at a principled method of pricing goods and services was very satisfactorily solved for conventional goods; however, this solution is not applicable to digital goods. This paper studies pricing of a special class of digital goods, which we call semantically substitutable digital goods. After taking into consideration idiosyncrasies of goods in this class, we define a mar...

the aim of this work is to describe the qualitative behavior of the solution set of a givensystem of fractional differential equations and limiting behavior of the dynamical system or flow defined by the system of fractional differential equations. in order to achieve this goal, it is first necessary to develop the local theory for fractional nonlinear systems. this is done by the extension of ...

This paper analyze Nash’s equilibrium (maximum utilility MU) and its relation with the order state (minimum entropy ME). I introduce the concept of minimum entropy as a paradigm of both Nash-Hayek’s equilibrium. The ME concept is related to Quantum Games. One question arises after completing this exercise: What do the Quantum Mechanics postulates indicate about Game Theory and Economics? Journa...

In this study, the fixed point theory on fuzzy metric spaces has been generalized to fixed-circle by making a geometric interpretation. The necessary conditions exist circles of self-mapping have investigated and uniqueness circle is examined under suitable conditions. We present some illustrative examples obtained results also offer an application confirm utility our established result for fin...

The usual justification foc Nash equilibrium behavior involves (at least implicitly) the assumption that it is common knowledge among the playecs both that the Nash equilibrium in question will be played by all and that all playecs ace expected utility maximizers. We show that in a large class of extensive form games, the assumption that rationality is common knowledge cannot be maintained thro...

We characterize equilibrium payoffs of a delegated common agency game in a public good context where principals use smooth contribution schedules. We prove that under complete information, payoff vectors of equilibria with truthful schedules coincide with the set of smooth equilibrium payoffs, including non-truthful schedules. We next consider whether the presence of arbitrarily small amounts o...

We experimentally study optional costly communication in Stag-Hunt games. Prior research demonstrates that efficient coordination is difficult without a communication option but obtains regularly with mandatory costless pre-play messages. We find that even small communication costs dramatically reduce message use when communication is optional, but efficient coordination can occur with similar ...

The Swedish adult education program known as the Knowledge Lift (1997–2002) was unprecedented in its size and scope, aiming to raise the skill level of large numbers of low-skill workers. This paper evaluates the potential effects of this program on aggregate labor market outcomes. This is done by calibrating an equilibrium search model with heterogeneous worker skills using pre-program data an...

The Swedish adult education program known as the Knowledge Lift is unprecedented in its size and scope, aiming to raise the skill level of all lowskilled workers towards the medium level. This paper evaluates the effects of program participation on individual labor market outcomes, notably employment and annual income, as well as on the labor market equilibrium. For the effects at the individua...

Linking Behavioral Economics, Axiomatic Decision Theory and General Equilibrium Theory