Modifying the methods of Z. Adamowicz’s paper Herbrand consistency and bounded arithmetic (Fund. Math. 171 (2002)), we show that there exists a number n such that ⋃ m Sm (the union of the bounded arithmetic theories Sm) does not prove the Herbrand consistency of the finitely axiomatizable theory Sn 3 . From the point of view of bounded arithmetic, the concept of consistency based on Herbrand’s ...

We argue that since allocation mechanisms will not always be in equilibrium, their out-ofequilibrium properties must be taken into account along with their properties in equilibrium. For economies with public goods, we define a simple market-like mechanism in which the strong Nash equilibria yield the Lindahl allocations and prices. The mechanism satisfies critical out-of-equilibrium desiderata...

The current study identify the potential problems of current web-based instruction and learning management systems in terms of its lack of flexibility and customization required for individual learners’ different goals, backgrounds, knowledge levels, and learning capabilities. Advanced adaptive learning management system technologies are able to give possible solutions and mechanisms for adapti...

* Colonel Deepak Sharma is a Research Fellow at the Institute for Defence Studies and Analyses, New Delhi. The People's Liberation Army (PLA) considers active offence to be the most important requirement for information warfare to destroy or disrupt an adversary's capability to receive and process data. Launched mainly by remote combat and covert methods, the PLA could employ information warfar...

in the process of investment decision making, next to financial indicators many other aspects of investment projects are increasingly often considered. this leads to the multi-criteria evaluation of a project. the advantage of multi-criteria methods is the ability to take into account all (not only financial) aspects of the attractiveness of an investment project. the selection of criteria of p...

making capital and investment is the main driving forces of economic development. based on the investment sensitivity to the changes of some of macro-economic variables and risk and uncertainty, the present study evaluated the effective factors on investment in private sector in iran during 1980-2007. at first, the uncertainty variables of real informal exchange rate, nominal interest rate and ...

investment in oil and gas upstream activities is very important for the exploration and development of oil and gas fields. different and various laws and regulations deal with the investment in upstream operations. by reviewing these various laws and regulations, this research paper tries to discuss to what extent these laws and regulations have created legal confident for foreign investment up...

Wilkie (1999) proved a “theorem of the complement” which implies that in order to establish the o-minimality of an expansion of R with C∞ functions it suffices to obtain uniform (in the parameters) bounds on the number of connected components of quantifier free definable sets. He deduced that any expansion of R with a family of Pfaffian functions is o-minimal. We prove an effective version of W...

We develop a tractable two-country overlapping-generations model and show that cross-country differences in financial development can explain three recent empirical patterns of international capital flows: Financial capital flows from relatively poor to relatively rich countries, while foreign direct investment flows in the opposite direction; net capital flows go from poor to rich countries; d...

There has been criticism within the real estate professions that the lack of availability of good quality data has led actuarial professionals and academics to ignore real estate for modelling purposes. It has sometimes been asserted that this is one of the reasons for the decline in institutional investment in real estate, as asset allocation experts have ignored the asset class because of the...