The objective of this note is to analyze some implications of the model of commodity money described in Banerjee and Maskin (1996) which may seem paradoxical. In order to do this, we incorporate a general production cost structure into the model. We focus on two different results. First, the existence of technologies that make counterfeiting a commodity more difficult may exclude it from being ...

As we enter the post-pandemic period, United Nations' first priority related to sustainable development is facilitate a green transition, whereby “investments must accelerate decarbonization of all aspects our economy.” A 2009 study conducted by The Rocky Mountain Institute stated that “The role energy efficiency has historically played in US generally under appreciated. If productivity had rem...

Online market places have an unprecedented power of bringing together a large number of buyers and sellers and aggregating information. Despite its benefits, this scale of aggregation of private information may bring about adverse effects that can cause inefficiencies, which can be ignored by conventional analysis. In this paper, I present a strategic model of a large industrial market with asy...

considering the current upward drift in farm use all over the world, the russian agro-food market has immense possibilities to create such economic conditions under which the farming sector could develop dynamically. the increase in the grain production is of crucial importance for all agricultural branches. in this respect, the grain sector is russia’s strategically significant economic segmen...

one of the most important measures, in order to increase animal products and reduce imports, is the industrialization of animal husbandry units, specially the dairy cattle. the condition of milk production would be improved by this industrialization, which is in the direction of increasing the efficiency of milk production units. the purpose of this study is calculate , the efficiency of the tr...