A simple idea from game theory could yet upset the sacred tenants of neoclassical economics. This articles explores the implications for the theory of distribution and Keynes's theory of effective ...

The theory of distribution is that incomes are earned in the production of goods and services and that the value of the productive factor reflects its contribution to the total product. Distribution ...

Let's assume that the number of hours a student spends studying will contribute to their final grade. What would happen if the student studied for an extra hour each day? Or an extra two hours? How ...

Businesses measure productivity in two ways: marginal and average. The calculation of both types often yields different answers as a result of the fundamental differences behind each measurement. In ...