In this paper, in an exchange economy with atoms and an atomless part, we analyze the relationship between the set of the Cournot-Nash equilibrium allocations of a strategic market game and the set of the Walras equilibrium allocations of the exchange economy with which it is associated. In an example, we show that, even when atoms are countably infinite, Cournot-Nash equilibria yield different...

With so many economy/budget lodging brands and rooms added to the market, it is difficult for consumers to identify differences in the services offered. In addition, industry practitioners need to understand what is expected of them by the consumers they serve. The authors review the economy budget lodging in general and empirically examine this issue. This article is available in Hospitality R...

In principle there is a clear divide between science and technology. In practice there isn’t. In principle, while practical inventions can be patented, scientific findings can’t be. In practice, increasingly scientific findings are being patented. The argument of this paper is that this is bad for the advance of science and for the advance of technology. However, because of the blurry lines, it...

The paper examines the effect of inflation on the growth rate in economies with underground, or ”non-market”, sectors. The model incorporates a non-market good into an endogenous growth cash-inadvance economy with human capital. Taxes on labor and capital induce substitution into the non-market sector which avoids such taxes. However the non-market sector uses only cash for exchange and cannot ...

In a free-market economy of software agents, information is produced, traded, and consumed by vast numbers of autonomous , self-motivated agents. An essential task in this economy is the retailing or brokering of information, whereby information is gathered from the right producers and distributed to the right consumers. This paper investigates one crucial aspect of a broker's dynamical behavio...

money and capital market are among financial institutions that have significant role in economy, and coordinating synergic relationship between them could cause economic growth. the supreme leader of the islamic republic of iran, ayatollah sayed ali khamenei, introduced the concept of resistive economy and communicated its executive policies in 1389. resistive economy is among those models whic...

Most theories of political economy operate in terms of what might be called separated political economy, as illustrated by the formulation: political economy = polity + economy. Within this formulation it is reasonable to speak of the state intervening into the market economy. In contrast to separated political economy, this paper explores some aspects of what might be called an entangled polit...

The major problem of the current market economy is absence of appropriate mathematical description of processes taking place in it, which results in misunderstanding of these processes, as well as lack of efficient means of preventing economic crises. The manuscripts suggests such a mathematical description, making use of the circumstance that the ‘black box’ of market economy has the correspon...