This paper explores the welfare consequences of unemployment insurance when private insurance markets are subject to enforcement frictions that limit debt accumulation, endogenously determining individual borrowing limits as a function of the length of unemployment. Reducing the replacement rate in the model initially increases borrowing, as the value of default declines significantly. As the r...

there have been a lot of debates between law authors about formation of valid sale contract to the building while constructing for a long time. after enactment of forward sale act in 1389 forward sale building during construction process accepted. however some facts were not answered clearly when the transferring of ownership will be happened: through official forward sale contract or transferr...

deep economic and social developments in two recent centuries beside other important alterations, created important changes in contracting aria among them placing weak and strong parties against each other in contracts. freedom of contract, that before enjoided from some kind of sancity,could not provid contractual justice in this new conditions. therefore adjustment of this tool(contract) in a...

We study an equilibrium in which agents face surprise liquidity shocks and invest in liquid and illiquid riskless assets. The random holding horizon from liquidity shocks makes the return of the illiquid security risky. The equilibrium premium for such risk depends on the constraint that agents face when borrowing against future income; it is insignificant without borrowing constraint, but can ...

The members of a chain always try to find new ways in order to raise their profit. Hence we intend to study two different scenarios in a single item two-echelon green supply chain including two manufacturers and one retailer to study the effects of two effective contracts on members’ profit. Two scenarios are discussed and in first one, first manufacturer proposes quantity discount contract to ...

Abstract We make two contributions to the study of polite combination in satisfiability modulo theories. The first is a separation between politeness and strong politeness, by presenting theory that not strongly polite. This result shows proving (which often harder than politeness) sometimes needed order use combination. second contribution an optimization method, obtained borrowing from Nelson...