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The quest for national security through the expansion of military force has been a dominant feature of international relations for the past three decades. Since the Second World War this quest has given rise to an arms race which has seen the development, production and deployment of weapons of mass destruction in numbers great enough to threaten the termination of human society. It is thus only reasonable to try to understand the forces which have propelled this process forward and to ask whether the process has, in fact, resulted in the achievement of its alleged primary objective — the improvement, or at least the maintenance of the military security of the participants.

Price‐taking has long been mistakenly regarded as an inferior firm behavior in an imperfectly competitive market. This scenario is challenged when a “Naiver’s Paradox” is shown to exist in an oligopolic market where all firms produce the same product with the same technology (cost structure). It is shown that a firm behaving as a naive price‐taker with ignorance of its output impact on the market will perform no worse or even better than its rivals in terms of profits achieved, where the latter are assumed to take “Cournot”, “relative profit” or other more advanced strategies. More significantly, when the number of firms in the market is large, a price‐taker may achieve higher profit not only in a relative sense, but also in an absolute sense. Such paradoxical outcome is generic, for it results from neither ad hoc assumptions on market structure nor on information sets, but from the conventionally granted “convexity” assumption on cost functions. An analogous phenomenon is observed for oligopsony market.

This paper aims to study students' strategic behaviors for increasing their job prospect in response to university administrators' moves for lifting up institutional reputation in the academia.

A Stackelberg differential game is used to study this strategic interplay between administrators and students. In this game, an administrator maximizes institutional quality to build university reputation while student maximizes grades to increase their job prospects. Therefore, administrators being the leader move first while students set strategies for maximizing their objective function by following administrators' move.

The study produces several distinctive results by analyzing administrator–students’ strategic interactions. First, university administrators need to be sufficiently more impatient for building reputation by improving institutional quality than students’ impatience for increasing their job prospects to have feasible solutions. Second, students attempt to increase academic grades for making them more marketable in response to administrators’ additional efforts for increasing their students’ job prospects. Third, exogenous increase in university reputation improves institutional quality and students’ job prospects without affecting their academic grades. However, increase in job prospects motivates students to increase their grades. Fourth, administrators’ too much impatience for increasing university reputation could inflate students’ grade, reduce job prospect and degrade institutional quality. Fifth, an exogenous rise in students’ impatience improves institutional quality and students’ job prospects but reduces students’ grades. Finally, the exogenous increase in opportunity cost of securing good grade degrades institutional quality, thus reducing further job prospects. Therefore, administrators’ positive but moderate impatience for reputation will improve students’ academic performances, institutional quality and job prospects.

To the best of the authors’ knowledge, this is the first study to analyze students’ strategic responses for improving their job prospects in response to administrators’ actions for enhancing university reputation. It helps administrators to design an effective framework for building university reputation in the academic market through improving institutional quality and expanding job markets for their students.

The purpose of this paper is to investigate the effectiveness of asset price channel in monetary policy transmission and the effect of stock market volatility on monetary policy in Kenya.

Empirical analysis is based on quantitative analysis which incorporates both descriptive analysis and empirical approach. The study specifically uses the VAR approach which is most appropriate for this kind of study involving analysis of policy shocks on macroeconomic variables.

The main findings of this paper are as follows: first, the evidence of the existence of the asset price channel of monetary policy transmission is mixed in Kenya. Second, while the effect of monetary policy on stock price volatility is not significant, stock market volatility creates instability in monetary policy variables, implying that information from the stock market may be important in predicting the business cycle.

The paper provides useful policy insights to academicians, economists and central bankers who are interested in understanding the financial stability‐monetary policy nexus. This is important considering that most economies are emerging from the effects of the global financial crisis and they are thus enhancing financial stability measures. No such study that the authors are aware of has been conducted using data for Kenya.

The monetary policy is an important driver of the real estate sector’s performance. The recent wave of monetary tightening in 2022 in response to the cost-of-living crisis has been associated with the decline in housing prices across the globe. There are two main channels through which the US monetary policy may affect the real estate market in the dollar-pegged countries: the cost of serving mortgages (financing cost) and the exchange rate channel (for example, the appreciation of the US dollar and consequently the local currency). The exchange rate channel, which involves the appreciation of the US dollar and the subsequent effect on the local currency, is particularly significant in the case of Dubai, given how international the housing market in Dubai and might be viewed as a tradable good. Using recent data, the purpose of this study to evaluate the spillover impact of the US monetary policy on the housing market performance in the dollar-pegged countries using Dubai as a case study.

For this purpose, this study collected unique longitudinal data on the volume of the monthly transactions of residential properties and performs a panel-data analysis using within-variation models. The changes in the interest rate policy in the USA are determined by the domestic inflation in the USA, thereby, representing an exogenous shock in the UAE.

The results are robust to different specifications and suggest that a strong negative correlation between the interest rate in the USA and the housing sector demand in Dubai. Fiscal policy measures can be taken to mitigate tighter financial conditions in case of policy misalignment.

Few studies have looked at the spillover impact of the global monetary conditions on the real estate market in the GCC region. This study fills this gap by exploring the impact of the US financial conditions on Dubai’s real estate, using panel data analysis.

There are manufacturer, remanufacturer and advertising agency in the study. The first manufacturer is a traditional manufacturer that produces new product, while the second one operates a reverse channel producing remanufactured products from used cores. Both manufacturers bundle their products with advertisement and outsource advertising services to agents. The agents independently determine the advertising levels and take the advertising prices from manufacturers. The purpose of this paper is to study the advertising decisions of new and remanufactured products under direct-sales model.

In this study, it is assumed that the remanufacturer invests extra effort in facilitating the remanufacturing process. First, the authors establish a noncooperative Stackelberg model, where the manufacturers are the leaders and the agents are the followers. And the authors solve the equilibrium strategies backward in this two-stage model. Second, the authors observe the equilibrium characteristics with respect to the advertising price and level decisions for all members in the supply chain. The third, the authors also investigate the competition between two products and the profits of chain members. Based on the theoretical and numerical analysis, the authors derive economic and managerial insights for chain members.

The analysis generates the following insights. First, advertising prices and levels decrease with the increase of ultimate cost of advertising and product unit cost. Second, with greater cost-savings, remanufactured products have advantages over new products in advertising price, level and market demand. Third, when advertising elasticity is greater, remanufactured products are superior to new products in demand, advertising price and level, and remanufactured products become more competent than new products. Manufacturers and agents would like to choose the products with high advertising elasticity for remanufacturing or advertising, respectively, to pursue their maximum profits.

The contribution is constructive as no prior research has abstracted advertising service and regarded agents as chain members in a closed-loop supply chain (CLSC) with remanufacturing. Besides, the results also provide guidelines for choosing marketing strategies for advertising price and level decisions under CLSC condition.

Solves the inverse problem of estimating the wall heat flux in a parallel plate channel, by using the conjugate gradient method with adjoint equation. The unknown heat flux is supposed to vary in time and along the channel flow direction. Examines the accuracy of the present function estimation approach, by using transient simulated measurements of several sensors located inside the channel. The inverse problem is solved for different functional forms of the unknown wall heat flux, including those containing sharp corners and discontinuities, which are the most difficult to be recovered by an inverse analysis. Addresses the effects on the inverse problem solution of the number of sensors, as well as their locations.

Aims to analyse the labour market outcome when there are two unions in the industry, representing heterogeneous workers – imperfect substitutes in production.

Competition between union policies are viewed in terms of both employment and wage strategies. Results for substitutes and complements are inspected. Attention is given to the strategic behaviour of the unions, towards one another and/or the employer side. Cooperation is modelled using the Nash‐maximand approach.

Gathers some notes and enlargements to the standard collective bargaining problem in which unions maximise utility. Extends the framework to model union competition behaviour for jobs and/or employment that reproduces the standard market product analysis of imperfect competition. Focuses on heterogeneous labour.

The analysis concentrates on the case of union duopoly, but can easily be enlarged to the n‐union setting – which is left for further investigation.

A simple analytical example with Stone‐Geary union utility functions and a linear labour demand system is forwarded.

The purpose of this paper is to compare and contrast two formal models of escalation and de-escalation: the attractor landscape model and the S-shaped reaction function model. Also, the paper aims to enumerate conditions that affect the shape and location of reaction functions and, hence, the stability of less and more escalated states.

Both models are presented together with geometric proofs of the main assertions of the second model. Overlap and comparative strengths of the models are reviewed. Parts of the social science literature are synthesized in a discussion of the antecedents of stability.

Though derived from totally different traditions, these models are similar in their basic assumptions and predictions. Each model has value. The attractor landscape model is easier to grasp and contains a concept of resistance to escalation that is not found in the S-shaped reaction function model. The latter model looks at individual parties rather than the dyad as a whole and, thus, offers an explanation for most of the phenomena described by the former model. It also allows identification of many variables that affect the shape and location of reaction functions and, hence, can be viewed as antecedents of escalation and de-escalation.

Seven testable hypotheses are presented in the Conclusions section. Laboratory tasks for testing such hypotheses have yet to be developed and there is only one study employing real-life measures. However, it is clear that once research on these phenomena really begins, new variables will be found that moderate the strength of the effects hypothesized.

The models provide concepts for thinking about how to avoid runaway escalation and promote runaway de-escalation. The variables mentioned in the hypotheses suggest ways to diminish the likelihood of runaway escalation and can also be used for constructing measures of the likelihood of that phenomenon. The theories also imply that when the likelihood of runaway escalation increases, disputants should be doubly careful to avoid initiating escalative behavior.

The article is original in that the S-shaped reaction function model is refined and further developed and the proofs are new. The comparison between the models is also new, as is most of the enumeration of conditions affecting the stability of low and high escalation. The value of the article is to provide concepts and theory for thinking about escalation and de-escalation, and testable hypotheses for studying these phenomena.

This paper aims to develop a meshfree algorithm based on local radial basis functions (RBFs) combined with the differential quadrature (DQ) method to provide numerical approximations of the solutions of time-dependent, nonlinear and spatially one-dimensional reaction-diffusion systems and to capture their evolving patterns. The combination of local RBFs and the DQ method is applied to discretize the system in space; implicit multistep methods are subsequently used to discretize in time.

In a method of lines setting, a meshless method for their discretization in space is proposed. This discretization is based on a DQ approach, and RBFs are used as test functions. A local approach is followed where only selected RBFs feature in the computation of a particular DQ weight.

The proposed method is applied on four reaction-diffusion models: Huxley’s equation, a linear reaction-diffusion system, the Gray–Scott model and the two-dimensional Brusselator model. The method captured the various patterns of the models similar to available in literature. The method shows second order of convergence in space variables and works reliably and efficiently for the problems.

The originality lies in the following facts: A meshless method is proposed for reaction-diffusion models based on local RBFs; the proposed scheme is able to capture patterns of the models for big time T; the scheme has second order of convergence in both time and space variables and Nuemann boundary conditions are easy to implement in this scheme.