Rules, Contracts and Law Enforcement in the Ottoman Empire
This chapter gives a game-theoretical model of tax-farming contracts to examine the level of the ... more This chapter gives a game-theoretical model of tax-farming contracts to examine the level of the rule of law in the Ottoman Empire. We employ tools from Prisoner's Dilemma game for two reasons. First, the PD game is a simple embodiment of establishing cooperation in contractual relations. In this sense, the PD game generates the basis of our theoretical perspective to analyze equilibrium(s) and outcome(s) as well as the rule of law. Secondly, the assumptions of the PD game are compatible with the payoffs proposed from primary sources based on tax-farming contracts and court records. The game-theoretical model has suggested that once a contractual arrangement emerged between the central authority and the agent, the strategies of contracting parties were mostly defection. Thus, a Nash Equilibrium(s) has emerged within the institutional environment. Game theory has argued that Nash equilibrium(s) is Pareto inferior, and the Pareto optimum outcomes are based on cooperation among contracting parties. The main reason is that selective and partial institutional change entailed failure to establish a competitive structure within the institutional environment. The structure of law and the role of judicial/religious-based agents had limited the institutional change to protect their interests in contractual relations. In terms of the rule of law, this study has argued that the Ottoman Empire became a typical example of a "limited access order". The structure of law and its judges, however, had prevented agents from developing
Introduction to in the Turkish Banking & Financial Markets Transformation of the Turkish Economy:... more Introduction to in the Turkish Banking & Financial Markets Transformation of the Turkish Economy: An Overview The Size of Government & Property Rights in Turkey The Structure & Regulation of Turkish Banking System: 2000-2010 Restructuring & Market Structure in the Turkish Banking Sector Deregulation & Entry Performance in Turkish Banking Deposit Insurance & Bank Resolution in Turkey: Regulation & Experience Interaction between Payment Services & Credit Services in Credit Card Markets Turkish Capital Market Regulation Efficiency of Productivity of the Brokerage Houses in Turkey Institutional Investors in Turkey Index.
Entrepreneurial learning processes have begun to take an important place in the economics literat... more Entrepreneurial learning processes have begun to take an important place in the economics literature. In this work, we discuss the Kirznerian theory of entrepreneurship and the place of learning in this theory. We criticize Israel Kirzner for lack of a learning mechanism in entrepreneurial discovery procedures. Two important recent contributions to Kirznerian theory by Yong Back Choi and David Harper do not satisfactorily provide a learning mechanism that drives the market process. Having discussed these contributions with an interpretive approach, we introduce a practical learning mechanism for entrepreneurial activity
Utilities worldwide have followed the natural monopoly model for more than a century. This has st... more Utilities worldwide have followed the natural monopoly model for more than a century. This has started to change in recent decades. Electricity systems have become complex, as interactions between participants become multidimensional. This article examines the knowledge problem in an increasingly complex electricity system. I argue that increasing complexity in the electricity system necessitates reconsideration of the regulatory tariff model for utilities.
This paper aims to contribute to the ongoing discussion on adherence to social norms. It consider... more This paper aims to contribute to the ongoing discussion on adherence to social norms. It considers insights from multiple research traditions in an effort to explain how individual learning and action are connected to social norms. One strand of philosophical tradition holds that non-representational learning and skillful coping carried out unconsciously are underestimated by both scientific and philosophical traditions. The present research combines this tradition with the literature on the evolution of social norms and suggests that experienced individuals in a society adhere to social norms better than novice agents do. We explain this phenomenon by unconscious and non-representational cognitive processes. This framework is then used to investigate population-level outcomes of individual learning.
Hayatin istatistiksel degeri (HID), hem ekonomik ve sosyal duzenlemelerde hem de tazminat hesapla... more Hayatin istatistiksel degeri (HID), hem ekonomik ve sosyal duzenlemelerde hem de tazminat hesaplamasi gibi yargi sureclerinde onemli bir yer tutmaktadir. Ulkemizde, duzenleyici otoriteler, duzenlemelerini HID’i esas alarak yapmamaktadir. Mahkemelerde kullanilan yontem insani bir sermaye mali olarak goren yaklasimi esas almaktadir. Bu yaklasim, onleyicilik amaci yerine zararin telafisi amacini gutmektedir. Bu calisma, HID’i, hesaplama yontemlerini ve olum tehlikesi ile uygulamada ortaya cikan sorunlari aciklamaktadir. Calismada ayrica, Turk hukukunda tazminat hesabinin, HID yontemine gore yapilmasi onerilmektedir. HID yontemi, birtakim sinirliliklari bulunmasina ragmen geleneksel yonteme kiyasla sosyal faydasi daha fazla olan bir yontemdir.
As broadband Internet transforms the way people connect with others, the boundaries between diffe... more As broadband Internet transforms the way people connect with others, the boundaries between different modes of communications become vague. In recent years, the scope of voice and broadband markets has become a matter of concern for both policymakers and researchers. Until recently, it was thought that DSL and mobile broadband markets were separate markets and therefore they were separately regulated. However, recent empirical evidence in some countries shows that fixed and mobile broadband services are likely to be substitutes. If this is true, the definition of the relevant market for broadband has to be expanded to include mobile networks. This implies that they should be subject to the same regulatory framework. In order to follow this change, we look into the Turkish broadband market, as it is one of the fastest growing in Europe. The paper provides empirical evidence on the existence of fixed-mobile substitution in broadband Internet services in Turkey. We show that fixed and mobile broadband are substitutes in Turkey and they have to be included in the same relevant market definition. As differences between them in terms of speed, reliability and price diminish, customers increasingly see them as substitutes. These changes in the market environment require a reconsideration of the regulatory environment of fixed and mobile broadband markets.
Rules, Contracts and Law Enforcement in the Ottoman Empire
This chapter gives a game-theoretical model of tax-farming contracts to examine the level of the ... more This chapter gives a game-theoretical model of tax-farming contracts to examine the level of the rule of law in the Ottoman Empire. We employ tools from Prisoner's Dilemma game for two reasons. First, the PD game is a simple embodiment of establishing cooperation in contractual relations. In this sense, the PD game generates the basis of our theoretical perspective to analyze equilibrium(s) and outcome(s) as well as the rule of law. Secondly, the assumptions of the PD game are compatible with the payoffs proposed from primary sources based on tax-farming contracts and court records. The game-theoretical model has suggested that once a contractual arrangement emerged between the central authority and the agent, the strategies of contracting parties were mostly defection. Thus, a Nash Equilibrium(s) has emerged within the institutional environment. Game theory has argued that Nash equilibrium(s) is Pareto inferior, and the Pareto optimum outcomes are based on cooperation among contracting parties. The main reason is that selective and partial institutional change entailed failure to establish a competitive structure within the institutional environment. The structure of law and the role of judicial/religious-based agents had limited the institutional change to protect their interests in contractual relations. In terms of the rule of law, this study has argued that the Ottoman Empire became a typical example of a "limited access order". The structure of law and its judges, however, had prevented agents from developing
Introduction to in the Turkish Banking & Financial Markets Transformation of the Turkish Economy:... more Introduction to in the Turkish Banking & Financial Markets Transformation of the Turkish Economy: An Overview The Size of Government & Property Rights in Turkey The Structure & Regulation of Turkish Banking System: 2000-2010 Restructuring & Market Structure in the Turkish Banking Sector Deregulation & Entry Performance in Turkish Banking Deposit Insurance & Bank Resolution in Turkey: Regulation & Experience Interaction between Payment Services & Credit Services in Credit Card Markets Turkish Capital Market Regulation Efficiency of Productivity of the Brokerage Houses in Turkey Institutional Investors in Turkey Index.
Entrepreneurial learning processes have begun to take an important place in the economics literat... more Entrepreneurial learning processes have begun to take an important place in the economics literature. In this work, we discuss the Kirznerian theory of entrepreneurship and the place of learning in this theory. We criticize Israel Kirzner for lack of a learning mechanism in entrepreneurial discovery procedures. Two important recent contributions to Kirznerian theory by Yong Back Choi and David Harper do not satisfactorily provide a learning mechanism that drives the market process. Having discussed these contributions with an interpretive approach, we introduce a practical learning mechanism for entrepreneurial activity
Utilities worldwide have followed the natural monopoly model for more than a century. This has st... more Utilities worldwide have followed the natural monopoly model for more than a century. This has started to change in recent decades. Electricity systems have become complex, as interactions between participants become multidimensional. This article examines the knowledge problem in an increasingly complex electricity system. I argue that increasing complexity in the electricity system necessitates reconsideration of the regulatory tariff model for utilities.
This paper aims to contribute to the ongoing discussion on adherence to social norms. It consider... more This paper aims to contribute to the ongoing discussion on adherence to social norms. It considers insights from multiple research traditions in an effort to explain how individual learning and action are connected to social norms. One strand of philosophical tradition holds that non-representational learning and skillful coping carried out unconsciously are underestimated by both scientific and philosophical traditions. The present research combines this tradition with the literature on the evolution of social norms and suggests that experienced individuals in a society adhere to social norms better than novice agents do. We explain this phenomenon by unconscious and non-representational cognitive processes. This framework is then used to investigate population-level outcomes of individual learning.
Hayatin istatistiksel degeri (HID), hem ekonomik ve sosyal duzenlemelerde hem de tazminat hesapla... more Hayatin istatistiksel degeri (HID), hem ekonomik ve sosyal duzenlemelerde hem de tazminat hesaplamasi gibi yargi sureclerinde onemli bir yer tutmaktadir. Ulkemizde, duzenleyici otoriteler, duzenlemelerini HID’i esas alarak yapmamaktadir. Mahkemelerde kullanilan yontem insani bir sermaye mali olarak goren yaklasimi esas almaktadir. Bu yaklasim, onleyicilik amaci yerine zararin telafisi amacini gutmektedir. Bu calisma, HID’i, hesaplama yontemlerini ve olum tehlikesi ile uygulamada ortaya cikan sorunlari aciklamaktadir. Calismada ayrica, Turk hukukunda tazminat hesabinin, HID yontemine gore yapilmasi onerilmektedir. HID yontemi, birtakim sinirliliklari bulunmasina ragmen geleneksel yonteme kiyasla sosyal faydasi daha fazla olan bir yontemdir.
As broadband Internet transforms the way people connect with others, the boundaries between diffe... more As broadband Internet transforms the way people connect with others, the boundaries between different modes of communications become vague. In recent years, the scope of voice and broadband markets has become a matter of concern for both policymakers and researchers. Until recently, it was thought that DSL and mobile broadband markets were separate markets and therefore they were separately regulated. However, recent empirical evidence in some countries shows that fixed and mobile broadband services are likely to be substitutes. If this is true, the definition of the relevant market for broadband has to be expanded to include mobile networks. This implies that they should be subject to the same regulatory framework. In order to follow this change, we look into the Turkish broadband market, as it is one of the fastest growing in Europe. The paper provides empirical evidence on the existence of fixed-mobile substitution in broadband Internet services in Turkey. We show that fixed and mobile broadband are substitutes in Turkey and they have to be included in the same relevant market definition. As differences between them in terms of speed, reliability and price diminish, customers increasingly see them as substitutes. These changes in the market environment require a reconsideration of the regulatory environment of fixed and mobile broadband markets.
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