In commercial fisheries, stock collapse is an intrinsic problem caused by overexploitation or due to pure stochasticity. To analyze the risk of stock collapse, we apply a relatively simple Monte Carlo approach which can ...

We study cartel contracts using data on 18 contract clauses of 109 legal Finnish manufacturing cartels. One third of the clauses relate to raising profits; the others deal with instability through incentive compatibility, ...

Struggles over the single-seat preferential election method IRV (Instant Runoff Voting) go on in public arenas and scientific journals, with focus on two “anomalies”. “Monotonicity failures” are preference distributions ...

Maritime activity in the Antarctic region goes back to the 18th Century. It evolved from exploration and discoveries to commercial activities, especially sealing and whaling. Antarctic tourism is a more recent phenomenon, ...

This paper surveys empirical studies that utilize the theory of the firm and dual theory to reveal economic and technological conditions of fish harvesting firms. The dual approach is highly suitable for revealing disaggregated ...

Dynamic optimization problems cover a large class of problems in theoretical and applied economics. A simple iterative algorithm with fast convergence is proposed. It is demonstrated that the algorithm in a few steps ...

The benchmark CAPM linearly relates the expected returns on an arbitrary asset, an arbitrary benchmark portfolio, and an arbitrary MV frontier portfolio. The benchmark is not required to be on the frontier and may be ...

Several central banks have adopted inflation targets. The implementation of these targets is flexible; the central banks aim to meet the target over the long term but allow inflation to deviate from the target in the ...

Customer satisfaction is supposed to be positively related to profitability. This conception may be called “the paradigm of customer satisfaction”. Nevertheless, only a few studies have examined this fundamental relationship. ...