We study the effects of competition in a context in which people’s actions can not be contractually fixed. We find that in such an environment the very presence of competition does neither increase efficiency nor does it yield any payoff gains for the short side of the market. We also find that competition has a strong negative impact on social well-being, the disposition towards others, and in...

A long literature on inter-distributional inequality (IDI) has developed statistical tools for measuring the extent of inequality between two groups (e.g. men versus women). The paper reviews some of the most prominent IDI indices proposed in the last four decades. The assessment focuses on how these indices react to inequalities that are disadvantageous to different groups, using two operation...

In many economic environments agents make costly and irreversible investments (in ``guns'') that may enhance their respective threat payoffs but also shrink the utility possibilities set. In such settings, with variable threats and a variable utility possibilities set, it becomes possible to rank different bargaining solutions in terms of efficiency. We compare bargaining solutions within a cla...

A multicoalitional bargaining problem is a non-transferable utility game and for each coalition, a bargaining rule. We look for ordinally invariant solutions to such problems and discover a subrule of Bennett’s (1997, Games Econ. Behav. 19, 151–179) that satisfies the property. On a subclass of problems that is closely related to standard bargaining problems and allocation problems with majorit...

In an abstract model of division problems, we study division rules that are not manipulable through a reallocation of individual characteristic vectors within a coalition (e.g. reallocation of claims in bankruptcy problems). A coalition can be formed under a given communication network, a (non-directed) graph, if members of this coalition are connected on the graph. We offer a characterization ...

This paper studies the origins of one of the most basic of property rights, namely, the right of an individual or an organization to the fruits of its labour. My objective is to address the questions of why, when and how this property right can emerge and be made secure. I develop a model of the strategic interaction between two players in the state-of-nature, which is an environment characteri...

Abstract Background Booster doses of meningococcal conjugate vaccines may induce long-term protection against invasive disease. MenACYW-TT [MenQuadfi®] is a quadrivalent vaccine, licensed for use in ages 2 years and older USA. The vaccine also 12 months EU other countries. Methods A phase IIIb study (NCT04084769) was conducted to evaluate the persistence immune response adults adolescents prime...

Wage Differentials, Discrimination and Inequality: A Cautionary Note on the Juhn, Murphy and Pierce Decomposition Method This paper shows how difficult it is to study the roles of discrimination and unobserved skills when studying changes in racial and gender wage gaps over time by examining merits and shortcomings of a popular decomposition method by Juhn, Murphy and Pierce (1991). The JMP met...

The model presented in this paper distinguishes an industrial and an agricultural sector within a developing economy. Environmental degradation results from the overexploitation of a renewable resource due to a common pool externality, which causes agricultural productivity to decline. The model considers a di erentiated peasantry where land ownership and savings behaviour di er across income c...

A double-blind, placebo-controlled clinical trial of a homeopathic treatment of neonatal calf diarrhoea was performed using 44 calves in 12 dairy herds. Calves with spontaneously derived diarrhoea were treated with either the homeopathic remedy Podophyllum (D30) (n = 24) or a placebo (n = 20). No clinically or statistically significant difference between the 2 groups was demonstrated. Calves tr...