The Ocean Container by Patrik Sampler

Review of Patrik Sampler\u27s The Ocean Containe

The Structure of Unstable Power Systems

A power system is modeled by an interaction form, the solution of which is called a settlement. By stability we mean the existence of some settlement for any preference profile. Like in other models of power structure, instability is equivalent to the existence of a cycle. Structural properties of the system like maximality, regularity, superadditivity and exactness are defined and used to determine the type of instability that may affect the system. A stability index is introduced. Loosely speaking this index measures the difficulty of the emergence of configurations that produce a deadlock. As applications we have a characterization of solvable game forms, an analysis of the structure of their instability and a localization of their stability index in case where solvability fails.Interaction form; effectivity function; stability index; Nash equilibrium; strong equilibrium; solvability; acyclicity; Nakamura number; collusion

A Stability Index for Local Effectivity Functions

We study the structure of unstable local effectivity functions defined for n players and p alternatives. A stability index based on the notion of cycle is introduced. In the particular case of simple games, the stability index is closely related to the Nakamura Number. In general it may be any integer between 2 and p. We prove that the stability index for maximal effectivity functions and for maximal local effectivity functions is either 2 or 3.Stability index; acyclicity; strong Nash Equilibrium; core, solvability; consistency; simple game; effectivity function

Imam Al-Ghazali's views on economic activities

The failure of the different regulatory measures to prevent the frequent occurrence of scandals in the marketplace is proof that ethics is an essential element in all spheres of life. This paper investigates Imam al-Ghazali's views on economic activities with emphasis on the ethical aspects. As a starting point, he considers maal (wealth) as a mere means, hence its status is function of the motive for its acquisition, the way to acquire it and the way to spend it. The most common way of acquiring maal is through economic activities (kasb) that al-Ghazali thoroughly discusses in one of the chapters in his book Ihya. To al-Ghazali economic activities could be a means to attain the highest level of "al-muqarrabun" if they are carried out within a normative framework that he outlined with some details. In line with one of his favorite argument, al-Ghazali opines that the first step in the right direction is to have a correct conception of the reality of this world (a journey to the Hereafter), then maal as well as the economic activities will be conceived and dealt with in a right manner to attain eternal happiness (saadah).Al-Ghazali; Ethics; Economic activities

Stability and Index of the Meet Game on a Lattice

We study the stability and the stability index of the meet game form defined on a meet-semilattice. Given any active coalition structure, we show that the stability index relative to the equilibrium, to the beta core and to the exact core is a function of the Nakamura number, the depth of the semilattice and its gap function.Effectivity function; lattice; stability index; equilibrium; Nakamura number

Financing agricultural inputs in Northern Togo through an inventory credit system: an economic analysis of institutional response

Agricultural intensification is widely seen as a condition sine-qua-non for enhanced food security and as a major driver for overall economic growth in sub-Saharan Africa (SSA). In this process, the financial system has an important role to play, especially to finance agricultural inputs. However in SSA, the financial institutions initiated by governments and donors have in general not lived up to the expectations, in particular not for the agricultural sector, because of inappropriate design and weaknesses in implementation. Even the microfinance institutions which were supposed to support the small-scale farmers have deflected for their goals due to the risks that the agricultural sector represents. To date, the economic research tends to concentrate on the mechanisms that secure the credit of microfinance institutions. However, the effective implementation of new mechanisms to secure credit appears more difficult than foreseen, as the decision making processes involved are complex and constrained by the lack of information. This paper argues that sustainable agricultural financing needs alternative schemes that secure both the credit of financial institutions and farmers’ income. It will also be shown how the new institutional economics perspective can be used to analyze and guide decision-making with respect to alternative schemes for agricultural financing. This paper which is based on quantitative and qualitative data presents the case of the inventory credit scheme on maize to facilitate access to agricultural inputs in Savannah region of Togo. In conclusion, some research areas will be indicated to improve our understanding of the inventory credit system.Financing, agricultural inputs, inventory credit, Togo, Agricultural and Food Policy, Crop Production/Industries, Farm Management, Food Consumption/Nutrition/Food Safety, Food Security and Poverty, International Relations/Trade, Livestock Production/Industries, Marketing, Productivity Analysis, Research and Development/Tech Change/Emerging Technologies, Resource /Energy Economics and Policy,

A Stability Index for Local Effectivity Functions

We study the structure of unstable local effectivity functions defined for n players and p alternatives. A stability index based on the notion of cycle is introduced. In the particular case of simple games, the stability index is closely related to the Nakamura Number. In general it may be any integer between 2 and p. We prove that the stability index for maximal effectivity functions and for maximal local effectivity functions is either 2 or 3.Effectivity function, local effectivity function, acyclicity, stability index, Nakamura Number, acyclicity.

Stability Index of Interaction forms

An interaction form is an abstract model of interaction based on a description of power distribution among agents over alternatives. A solution known as the settlement set is defined at any preference profile. Necessary and sufficient conditions for stability, that is the existence of settlements, are established. A Stability Index that plays a role similar to that of the Naka- mura Number is defined. It measures, loosely speaking, the complexity of those configurations that prevent a settlement. To any strategic game form one can associate an interaction form in such a way that given an equilibrium concept (e.g. Nash or strong Nash) and a preference profile, settlements of the interaction form are precisely the equilibrium outcomes of the resulting game. As a consequence we have necessary and sufficient conditions for the solvability of game forms. The paper provides a localization of the index in case of unstability.Interactive Form, Stability Index, Nash Equilibrium, Strong Equilibrium, Solvability, Consistency, Simple Game, Effectivity Function, Acyclicity, Nakamura Number.

Stability and Index of the Meet Game on a Lattice

We study the stability and the stability index of the meet game form defined on a meet semilattice. Given any active coalition structure, we show that the stability index relative to the equilibrium, to the beta core and to the exact core is a function of the Nakamura number, the depth of the semilattice and its gap function.Effectivity Function, Lattice, Stability Index, Equilibrium, Nakamura Number

The Structure of Unstable Power Systems

A power system is modeled by an interaction form, the solution of which is called a settlement. By stability we mean the existence of some settlement for any preference profile. Like in other models of power structure, instability is equivalent to the existence of a cycle. Structural properties of the system like maximality, regularity, superadditivity, subadditivity and exactness are defined and used to determine the type of instability that may affect the system. A Stability Index is introduced. Loosely speaking this index measures the difficulty of the emergence of configurations that produce a deadlock. As applications we have a characterization of solvable game forms, an analysis of the structure of their instability and a localization of their stability index in case where solvability fails.Interaction Form, Effectivity Function, Stability Index, Nash Equilibrium, Strong Equilibrium, Solvability, Acyclicity, Nakamura Number, Collusion