This paper argues that the efficiency distribution of players in a game determines how aggressively these players interact. We formalize the idea of balance of power: players fight very inefficient players but play softly versus equally (or more) efficient players. This theory of conduct predicts that entry by new firms leads to a less aggressive outcome if it creates a balance of power. A bala...

This paper examines trends in Irish fertility rates over the past four decades in the context of fertility trends in developed countries generally. Irish fertility rates have stabilised at the upper edge of the European range in the 1990s. This seems surprising, since the level of direct and opportunity costs of children would seem to be no more favourable to childbearing in Ireland than elsewh...

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We report results from an experiment based on a simplified version of Hart's (1995) property rights theory of the firm. Only one manager invests and this investment is completely specific. In that case the theory predicts that the level of investment is not affected by the level of no-trade payoffs if these payoffs are modeled as threat points (as Hart does). If instead no-trade payoffs are mod...

[Purpose] This study was conducted to investigate the effects of ankle control balance training (ACBT) on postural balance and gait ability in community-dwelling older adults. [Subjects and Methods] Fifty-four subjects were randomly divided into two groups, with 27 subjects in the ACBT group and 27 subjects in the control group. Subjects in the ACBT group received ACBT for 60 minutes, twice per...

[1] Runoff generation in Alpine regions is typically affected by snow processes. Snow accumulation, storage, redistribution, and ablation control the availability of water. In this study, several robust parameterizations describing snow processes in Alpine environments were implemented in a fully distributed, physically based hydrological model. Snow cover development is simulated using differe...

The intensity of water absorption in the region of the solar spectrum plays a dominant role in atmospheric energy balance and hence strongly influences climate. Significant controversy exists over how to model this absorption accurately. We report dipole moment measurements of highly vibrationally excited water, which provide stringent tests of intensities determined by other means. Our measure...

In this paper we entertain the hypothesis that observed variations in income shares are the result of changes in the balance of power between workers and capital owners in labor relations. We show that this view implies that income share variations represent a risk factor of first-order importance for the owners of capital and, consequently, are a crucial determinant of the return to equity. Wh...