GAME COMPLETE ANALYSIS OF BERTRAND DUOPOLY
In this paper we apply the Complete Analysis of Differentiable Games (introduced by D. Carfi in [3], [6], [8] and [9]) and al-ready employed by himself and others in [4], [5], [7]) to the classic Bertrand Duopoly (1883), classic oligopolistic market in which there are two enterprises producing the same commodity and selling it in the same market. In this classic model, in a competitive background, the two enterprises employ as possible strategies the unit prices of their product, contrary to the Cournot duopoly, in which the enterprises decide to use the quantities of the commodity produced as strategies. The main solutions proposed in literature for this kind of duopoly (as in the case of Cournot duopoly) are the Nash equilibrium and the Collusive Optimum, without any subsequent critical exam about these two kinds of solutions. The absence of any critical quantitative analysis is due to the relevant lack of knowledge regarding the set of all possible outcomes of this strategic interaction. On the contrary, by considering the Bertrand Duopoly as a differentiable game (games with differentiable payoff functions) and studying it by the new topological methodologies introduced by D. Carfi, we obtain an exhaustive and complete vision of the entire payoff space of the Bertrand game (this also in asymmetric cases with the help of computers) and this total view allows us to analyze critically the classic solutions and to find other ways of action to select Pareto strategies. In order to illustrate the application of this topological methodology to the considered infinite game, several compromise pricing-decisions are considered, and we show how the complete study gives a real extremely extended comprehension of the classic model.
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In this article it goes about the development of accounting from the standpoint of a scientific approach and practical activities. The main purpose of this study is to analyze this institution as an individual applied science. It was caused by multiple discussions in the academic circles about the place of accounting in science, as many economists share an idea that accounting is mostly a practical activity, not a scientific theory. This is due to the fact that the accounting practice is developing more rapidly than its theory. In the article, a special attention is paid to the study of the range of issues faced by the accounting theory, those it must solve as a result of new challenges in the economic reality, namely: the definition of a scientifically based methodology for determining fair value, the completeness of the information on intellectual capital in the reporting, a role of accounting as an entirely economic institution. Thus, it is reported in the article that accounting is an applied science, which in its research and own methodology has to use interdisciplinary tools to fight off these big challenges.
Deliberative Democracy and the Resource Curse: A Nationwide Experiment in Tanzania
Oil and gas discoveries in developing countries are often associated with short-sighted economic policies and, in response, calls to insulate resource management from populist impulses. We report on a randomized experiment testing methods to overcome this apparent tension between sound resource governance and democratic politics. Soon after Tanzania’s discovery of major natural gas reserves, we invited a nationally representative sample of voters to an intensive public deliberation of policy options featuring nationally recognized experts and small-group discussions. Democratic deliberation reinforced the public’s strong preference for rapid spending of gas revenues, but also increased support for various prudential and economically orthodox measures, including independent oversight of gas revenues, limits on government borrowing, and selling gas abroad rather than subsidizing fuel at home. These effects were driven by deliberation per se, rather than a pure information treatment, and show no evidence of contamination by facilitatoror peer-effects in group deliberations. www.cgdev.org Justin Sandefur, Nancy Birdsall, James Fishkin, and Mujobu Moyo