In the context of a simple model of public good provision, we study the requirement on an allocation rule that it be immune to manipulation by augmenting one’s endowment through borrowing from the outside world. We call it open-economy borrowing-proofness (Thomson, 2009). We ask whether the Lindahl rule satisfies the property. The answer is yes on both the domain of quasi-linear economies and o...

In the past, foreign borrowing by developing countries was comprised almost entirely of government borrowing. Recently, private firms and individuals in developing countries borrow substantially from foreign lenders. It is not clear whether the observed increase in private sector borrowing leads to overborrowing and frequent defaults by governments in developing countries. In this paper, we dev...

bailsman is commitment to summon party .this commitment on suspect of some, cause dominate on the third-party .for this reason, some have questioned the validity of contract, other groups have attempted to justify the validity of the contract with using of joint and several liability and advocacy. in sunni jurisprudence, the first tool used and in shiie, the second tool. but the truth is that t...

today’s energy reauiraments have produced an increase in drilling activities all around the world. among this situation is the fact that all the operators are trying to minimize cost without reduction in quality. so, they are looking for new types of contracts between all drilling companies, contractors and suppliers until that with make agreement between them have successful operations. in thi...

INTRODUCTION AND AIMS Thailand's longstanding HIV epidemic among injection drug users (IDU) has been attributed, in part, to the Thai government's unwillingness to implement evidence-based HIV prevention interventions. This study was undertaken to examine risk factors for syringe borrowing among a community-recruited sample of Thai IDU. DESIGN AND METHODS We examined the prevalence of syringe...

We present a generic method for establishing interpolation properties by ‘borrowing’ across logical systems. The framework used is that of the so-caled ‘institution theory’ which is a categorical abstract model theory providing a formal definition for the informal concept of ‘logical system’ and a mathematical concept of ‘homomorphism’ between logical systems. We develop three different styles ...

I study optimal incentive contracting when a temporary project is overseen by a firm with access to two channels of information about the project’s state a noisy public news process, and the reports of a manager possessing superior private information. The firm faces the decision problem of when to wrap up the project, as well as the agency problem of a manager with borrowing constraints and in...

abstract title: modify and terminate the contract if financial impossibility the financial performance impossible of the contract set forth because of the financial inability of one who undertake stems from external factors and attributing to the contracting parties is impossible. in the event of financial impossibility the present procedures (based on existing regulation) the possibility of th...

among the important discourses in financial law are the issues related to financial institutions. going through these issues are of considerable significance in islamic law since the lawmaker prohibits specific types of transactions – usurious, risk taking, harmful. enquiry into the legitimacy and nature of new financial products is among the important ventures of islamic financial law. one of ...