In this note we prove an existence theorem regarding friendly equilibrium points in extensive games with complete information. The friendly equilibrium points is a refinement of equilibrium points. *) Director del Instituto de Matemática Aplicada. Universidad Nacional de San Luis, CONICET, Ejército de los Andes 950. C.P. 5700 San Luis. Argentina **) This paper has been partially supported by a ...

This paper identifies a family of absolute consistent inequality indices using a weakly decomposable postulate suggested by Ebert. Because one member employs an Atkinson type aggregation we refer to it as the Atkinson index of consistent inequality. A second member of this family parallels the Kolm index of inequality. Two innovative features of these indices are that no specific structure is i...

Finding one major hepatotropic virus may not be enough to identify the aetiology of liver disease when risk factors are present, particularly in patients with past or present infection with other viral agents, or chronic liver disease. The pathogenic process in these cases is often complex. In the five cases we report, acute hepatitis (initiated by halothane, cytomegalovirus or Epstein-Barr vir...

It was particularly affecting to be invited to give the Owen J. Roberts lecture at this law school, of which my father-in-law, Chief Justice Horace Stern of Pennsylvania, was a distinguished graduate, a part-time teacher and a long-time trustee. The honor accorded me is even greater in that this is the hundredth anniversary of Justice Roberts' birth. Although I did not have the good fortune to ...

This paper constructs a general equilibrium search-matching model with heterogeneous workers. Workers choose whether to invest in general human capital or specific human capital when they enter the labor market. We analyze how unemployment benefits affect the choice of the type of human capital investment.

The innovative idea of introducing a third party (Ronen,2002) into the agency relationship has motivated our proposal of a co-payment scheme as a solution to financial misreporting. In the co-payment scheme, both the client firm and a third party such as FASB are asked to share the auditing fee. We will demonstrate that the participation of a third party can create an endogenous collusion cost ...

humans) offers an alternative source. Some pig organs have similar size and function to those of humans. The challenge is that the pig genome harbors porcine endogenous retroviruses (PERVs) that can potentially pass to humans with possibly damaging consequences. Niu et al. generated pigs in which all copies of PERVs were inactivated by CRISPR-Cas9 genome engineering (see the Perspective by Denn...

How transparent should a central bank be about (i) its objectives and (ii) its information on how monetary policy maps into economic outcomes? We consider a version of the Barro-Gordon framework in which monetary policy signals an inflation-biased Bank’s private information on both dimensions. We find that a commitment to transparency about how policy affects outcomes is desirable while transpa...