ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Nobel in Auction

The 2020 Nobel Prize in Economics was awarded to Paul R Milgrom and Robert B Wilson for their contribution to auction theory. Auction designs end up helping private and public players to make a valuation of a public good and, hence, create a market that did not exist beforehand, which quite often overlooks the underlying concrete social and environmental concerns.

Non-cooperative Game Theory and Pay-off

Focusing on an important dilemma regarding the contribution of the game theory and Nash equilibrium in economics, it is argued that the former is highly case specific. It is difficult to generalise the conclusion or solution to a more universal arena.

Tenancy Inefficiency

While several attempts have been made to explain the inefficiencies of sharecropping systems found in developing economics, they have been marked by certain definitional flaws. A more rigorous analysis of sharecropping that incorporates 'size-class' differences among owners and tenants thus becomes necessary. Earlier studies had also stressed on land productivity and intensity of farm resource utilisation as indicators of efficiency, but they are seen as measures of relative efficiency only under restrictive assumptions. This study stresses on the availability of irrigation resources as a factor that increases efficiency - for both owners and tenants.

Farm Size and Productivity

Farm Size and Productivity Manabendu Chattopadhyay Atanu Sengupta IN a recent polemic directed against our paper

Farm Size and Productivity-A New Look at the Old Debate

A New Look at the Old Debate The authors' study, using farm-level disaggregated data for 1989-90 for West Bengal suggests that the inverse relationship between farm size and productivity becomes stronger in the agriculturally developed regions of West Bengal compared to the relatively less developed regions. This is possibly due to the effects of green revolution on smaller sized farms. However, to arrive at a comprehensive view of the phenomenon discussed in this paper, more studies using disaggregated farm-level data for different states are required.

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