A new approach to solve old problems
AbstractArrangements (agreements, contracts, regulations, bargains, etc.) are widespread economic events and are the fundamental concept of the economic theory. Infringements (breaches, modifications, deviations, changes, etc.) of arrangements are common and have a significant importance for the economic theory. For many years now the arrangement infringements have lacked appropriate attention in the economic theory. This fact caused a number of theoretical and practical problems. In order to solve them a new approach is proposed, which considers the possibility of arrangement infringements. This article gives a simple example and a new result of the approach application.
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Length: 6 pages
Date of creation: 10 May 2005
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Find related papers by JEL classification:
- D8 - Microeconomics - - Information, Knowledge, and Uncertainty
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- C - Mathematical and Quantitative Methods
- D - Microeconomics
- E - Macroeconomics and Monetary Economics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-05-14 (All new papers)
- NEP-HPE-2005-05-14 (History & Philosophy of Economics)
- NEP-MAC-2005-05-14 (Macroeconomics)
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