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As mentioned pre- viously, the size of ¯eet, diversity of ship types, and structure of seamen in the UK ¯eet are be- lieved adequate for the model study, applying to the world and
The model developed here has four features: (1) the model determines the optimal location of logistics terminals from candidate nodes that are discretely speci®ed within the
Given an insignificant deterrence effect of the repeated punishment, both an increase in the time horizon and in the length of the prison term spelled out in either of the two
Fifth, the government can foster the creation of norms. In the case of coordination norms, the government can promulgate the new norm, as in the examples we gave earlier. When guilt
Our main findings are twofold: (1) when the agents are free from the potential of bankruptcy, strict liability of the principal achieves the highest level of social welfare, and
P ROPOSITION 4: Under the reliance measure, when the seller observes the buyer’s reliance before choosing precautions, the buyer’s reliance will exceed the optimal reliance as well
The main result of this paper is that for allocation problems in which preferences are single-peaked, the equal distance rule is the only rule satisfying symmetry, efficiency,
In order to mollify such legitimate concerns, the following theorem establishes a general comparative statics symmetry and semidefiniteness result for the reciprocal pair of