Previous experimental research has shown that thin financial markets fail to fully equilibrate, in contrast with thick markets. A specific type of market risk is conjectured to be the reason, namely, the risk of partial execution of desired portfolio rearrangements in a system of parallel, unconnected double auction markets. This market risk causes liquidity to dry up before equilibrium is reac...

Economic and social development is usually slow and stable. So has been the evolution of cooperative enterprises in general. Every now and then there exist, however, times of change; revolutionary phases in the evolutionary process. These are the times when history is broken and new history is made. I call these phases the ’times of strategic change’, which means in this presentation changes in...

Drawing insights from the literature on credit and labor markets and from the author’s own survey work on contractual practices among manufacturers and traders in Africa, this paper investigates the spontaneous emergence of markets in the presence of heterogeneous agents. Using a dynamic game setting, we derive precise conditions under which relational contracting spontaneously emerges and dete...

demand management is one of the main subjects in marketing which affects the operations performance of an organization considerably. in the classic production planning approach, demand is considered as an exogenous factor in planning, while in the new approach, it is a factor that can be controlled. in this paper, we focus on a new approach in supply chain planning and present an integrated pro...

This paper presents data on fifty state and substate insurance markets, in terms of the 2003 relative shares of the largest health plans and the antitrust index of concentration. It presents 2000-03 data on rates of growth in premiums, costs, operating earnings, returns on equity, and share prices for the nation's largest health plans (Well-Point, Anthem, Aetna, and CIGNA). Private insurers fac...