Science topics: Econ
Science topic
Econ - Science topic
Explore the latest publications in Econ, and find Econ experts.
Publications related to Econ (7,473)
Sorted by most recent
The aim of this research paper is to study how an ethnic minority group should optimally use its vote to be heard in democracies such as the US and the UK, and the attendant potential for a better day for the whole populace - and in time - the potential for 'one nation, one people' - with majority rule and fairness for all in such societies.
We consider a housing market model with limited externalities where agents care both about their own consumption via demand preferences and about the agent who receives their endowment via supply preferences [we extend the associated lexicographic preference domains introduced in Klaus and Meo (Econ Theory 76:779– 811, 2023)]. If preferences are de...
This paper focuses on the welfare effects of domestic and international lobbying in the context of two countries linked by both trade and pollution. We consider a reciprocal-markets model where, in each country, a domestic firm produces a polluting good, that can result in a cross-national environmental externality, and competes in quantities in ea...
I am seeking a Tenured Chaired Professor/Tenured Professor - of Finance (or Financial Economics) – with US Visa sponsorship - and a transitional financial package - at a top US Business School or US Economics department. I am a simultaneous Nobel prize - in Economics and Field medal - in Mathematics (the Mathematics Nobel prize) - level candidate....
One of the most important areas of logistics is transportation management. Transportation can have a direct impact on the country's economy, both domestic and foreign. Each type of transport has its own characteristics - positive and negative aspects. The study is devoted to the positive effects of road transport on the country's econ�omy and enter...
I study incentives for commitment in decision-making protocols with coordination motives and action constraints. In the baseline protocol with no commitment, an informed agent sends a cheap talk message to an uninformed principal, and then both players choose actions simultaneously. I study a direct mechanism for the coordination problem (Myerson i...
Standard computer programming problems are said to often reduce to problems of searching and sorting (Syracuse U, ECE 382 (circa Fall 1982)). And informed search - based on heuristics is said to underlie much of Artificial Intelligence (Poole, D., L., and co - author (2023)). This research paper demonstrates that
- in Computer Science - including...
A landmark study of the micro - foundations of information acquisition in and the informational efficiency of real - world financial markets. Because of this study, Financial professionals will always try to beat the market - a reversal of the trend towards passively tracking indices from about the 1990s until about 2021 when this author's Fund - o...
This research note aims to put Prospect Theory in the right perspective relative to neo - classical expected - utility theory. It also suggests an approach that makes it easier to apply Prospect Theory in economic modelling. Most importantly, it supplies a sound justification for the neo - classical approach to THE modelling OF human behaviour in A...
The Russian invasion of Ukraine triggered severe disruptions in the European energy market, causing also significant shifts in global natural gas flows. We investigate how this European shock has affected the dynamics and altered the estimates of the elasticities on the US natural gas market. We use the Bayesian Structural Vector Autoregression fra...
The ecosystem is considered the fundamental unit of ecology which plays a crucial role in providing a range of essential services to individuals. These services include the provision of food and shelter, as well as the regulation of climate and environment, either directly or indirectly. However, the emergence of urban industrial cities has witness...
The traditional terms of trade (TOT) shock analysis may be an unrealistic experiment, especially for a small open economy where the state of the world economy endogenously determines TOT. The dynamic relation between TOT and the trade balance needs to consider the nature of the global shock that jointly moves price and income, globally and domestic...
This study investigates the static and dynamic effects of legal reforms facilitating divorce on housing prices. Multiple mechanisms, such as variations in housing demand and supply, can be influenced by these law reforms. On the one hand, divorced individuals often require separate dwellings, thus increasing housing demand. On the other hand, an in...
Awareness structures by Fagin, Halpern (Artif Intell 34:39–76, 1988) (FH) feature a syntactic awareness correspondence and accessibility relations modeling implicit knowledge. They are a flexible model of unawareness, and best interpreted from an outside modeler’s perspective. Unawareness structures by Heifetz et al. (J Econ Theory, 130:78–94, 2006...
We study Markov decision processes with a countably infinite number of states. The \(\limsup \) (resp. \(\liminf \)) threshold objective is to maximize the probability that the \(\limsup \) (resp. \(\liminf \)) of the infinite sequence of directly seen rewards is non-negative. We establish the complete picture of the strategy complexity of these ob...
In economic growth theory, product and process innovations are critical factors contributing to technological progress. This study constructs an economic growth model that considers product and process innovations and theoretically investigates how these two types of innovation affect economic growth and unemployment rates. Using our model, based o...
Here are 100 pages of Econ artwork (including the cover page and excluding the references page). This book is based on the lectures I offer to help prepare students for advanced studies in Economics. It contains hundreds of problems, solved while carefully observing whether the solution lies at the boundary, interior, corner, or kinks. The problems...
En las ´ultimas d´ecadas, los h´abitos de consumo propios de los pa´ıses europeos han sidoreemplazados por alternativas menos saludables. Adem´as existe una creciente preocupaci´on por definirsistemas alimentarios sostenibles, reflejados en los Objetivos de la Agenda 2030.En este trabajo, se propone un modelo de optimizaci´on multiobjetivo para el...
Several recent studies have cited the theoretical work of Valdez et al. [Insur: Math Econ 39(2):251–266, 2006] as evidence that there is less adverse selection in tontine-style products than in conventional life annuities. We argue that the modeling work and results of Valdez et al. [Insur: Math Econ 39(2):251–266, 2006] do not unconditionally supp...
Motivated by the intention of both the IASB and FASB leading up to the adoption of IFRS 16 (ASC 842), which brings off-balance-sheet (OBS) leases back onto corporate balance sheets, we investigate whether IFRS 16 adoption affects stock price crash risk. Since all leases have to be recognized on the balance sheets after IFRS 16 adoption, we expect t...
In this paper, we define a compound generalized fractional counting process (CGFCP) which is a generalization of the compound versions of several well-known fractional counting processes. We obtain its mean, variance, and the fractional differential equation governing the probability law. Motivated by Kumar et al. (Math Financ Econ 14:43-65, 2020),...
In this study, we use a supply and demand model to estimate housing supply elasticity in New South Wales Australia based on yearly data for the 126 local government areas from 1991 to 2019, and investigate effects of supply elasticity on responses of housing prices and new constructions to housing price bubbles from 2002 to 2004. In particular, whe...
This paper presents and compares Bernoulli iterative approaches for solving linear DSGE models. The methods are compared using 99 different models from the macroeconomic model data base (MMB) and different parameterizations of the monetary policy rule in the medium-scale new Keynesian model of Smets and Wouters (Am Econ Rev 97(3):586–606, 2007. htt...
We "explain" the large and persistent gap between the graph of a theoretical interest rate dependent asset price relative to the actual price - over time reported in 'Paul Wilmott introduces Quantitative Finance (2007)' - perhaps the biggest, known, unresolved problem in Interest - rate Theory. This result is important for individuals' (including m...
A landmark study of the roles of Finance, enterprise, and government in society in the presence of environmental concerns.
It sets out the foundations for SUCCESSFULLY MANAGING one of the THE MOST IMPORTANT PROBLEMs FACING THE WORLD today.
Peasants are farm households, with access to their means of livelihood in land, utilizing mainly labour in farm production, always located in a larger economic system, but fundamentally characterized by partial engagement in markets which tend to function in the higher degree of imperfection.
Energy consumption (ECON) in BRICS countries is fueled by fossil fuels, mainly coal. Increased environmental degradation (ED) in BRICS countries is mostly driven by coal consumption. This study utilizes quantile regression for the analysis, enabling the development of targeted energy reorganization and emission reduction policies in BRICS countries...
The study examines the relationship between regional convergence, economic growth and government hierarchies , with a specific focus on the province managing county (PMC) reform policy in China. The motivation for this research stems from the observation that a substantial portion of the increased inequality in China is attributable to disparities...
1.0 Definition and scope of Economics of Agriculture
1.1.1 Definition of agricultural economics
Agriculture: no definitions that are following the word “agriculture” should production of crops or farming. In addition to this, now a day, agricultural activity includes animal
husbandry and forestry. Again, it goes beyond business on farms and inc...
I propose a theoretical framework under which holistic and test-only admission policies can be compared. The framework is based on an extension of the Coate–Loury model (Am Econ Rev 83(5):1220–1240, 1993) by allowing the candidate to signal in some additional attributes: The recruiting institution values the candidate’s competency in two aspects (e...
Introduction
Benzoic acid (BA) could be added to the diets of weaned pigs to prevent diarrhea due to its antibacterial function. However, BA may be absorbed or decomposed before it can reach the hindgut. This study was conducted to explore the effect of a novel coated benzoic acid (CBA) on growth performance, immunity, and intestinal barrier functi...
We investigate return spillover effects and depict a connectedness network among U.S. and Asian stock markets, comparing the spillovers during three crisis sub-periods and the entire period. Our findings are summarized as follows: First, regarding a puzzle in Choi (Econ Anal Policy 73:179-193, 2022) we find that total and net-pairwise spillover ind...
Purpose: This study investigates the role of commercial bank loans on the performance of small and medium-sized enterprises (SMEs) in Morogoro Municipality, Tanzania. It examines how commercial bank loans affect SME financial performance, providing a comprehensive understanding of how financial support from banks influences SME growth and sustainab...
The present paper extends the work of Subramanian (Econ Bull 41(4):2309–2319, 2021), as well as that of Creedy and Subramanian (Exploring a new class of inequality measures and associated value judgements: Gini and Fibonacci-type sequences, 2022), by showing how this new extension of the Gini index may be decomposed by income sources, income classe...
We construct a small open economy model to analyze the effects of a money-financed fiscal stimulus compared with a conventional debt-financed fiscal stimulus in a liquidity trap. By developing a closed economy model, Gali (J Monet Econ 115:1–19, 2020) highlights the effectiveness of an increase in government expenditure in the debt-financed fiscal...
One of the most famous and outstanding formalizations of the Coase Conjecture is by Gul et al. (J Econ Theory 39(1):155–190, 1986. https://doi.org/10.1016/0022-0531(86)90024-4) peculiarity of their model—as well as nearly all other examinations of the Coase Conjecture, including that by Coase himself—is that it assumes that the monopolist and custo...
This study provides a microeconomic foundation for the bipolar stability hypothesis in international politics. It extends the well-designed conflict model of Esteban and Ray (Am Econ Rev 101(4):1345–1374, 2011) to include monetary compensation arrangements between the winning and losing groups, presenting a new conflict-related indicator called the...
Citation: Baráth L., Fertő I., Staniszewski J. (2024): Are technological or efficiency differences more pronounced between Hungarian and Polish poultry farms? A stochastic metafrontier analysis. Agric. Econ.-Czech, 70: 406-413. Abstract: The efficiency of poultry production plays a crucial role in ensuring food security and maintaining human health...
We describe a new and better approach to hedging Financial Derivatives. THE AUTHOR HOPES THAT THIS STUDY IS A GAME -CHANGING CONTRIBUTION TO THE MANAGEMENT OF FINANCIAL INSTITUTIONS AND THE ACADEMIC LITERATURE ON FINANCIAL DERIVATIVES: PRICING, HEDGING (AND INSTITUTIONS). *He also hopes that this study - and additionally Risk I & II (Risk II is 'Ri...
Large-scale business failures marked the beginning of the twenty-first century, which culminated into the global financial crisis. The most well-known disaster, Enron, exposed evidence of corporate greed, fraud, and financial manipulation. The year 2023 also brought with it historic business collapses, with big banks collapsing one after another. T...
We study the relationship between imperfect discrimination, similarity, and stochastic transitivity in generalized versions of Perturbed Utility (Fudenberg et al. in Econometrica 83(6):2371–2409, 2015) and Fechnerian models (Debreu in Econometrica 26(3):440–444, 1958). We show that these models are equivalent and that, within them, the properties o...
This study diverges from mixed findings in the literature on political uncertainty and earnings management by reporting a significant positive association between the firm-level political risk (FLPR) measure proposed by Hassan et al. (Q J Econ 134(4):2135–2202, 2019) and both accrual-based and real earnings management. This aligns with the predicti...
In this supplement to Minford et al. Int J Financ Econ 26(2):19932021 (2021), we revisit the ‘puzzle’ in open economy studies that evidence of international risk-sharing is hardly seen despite active cross-country financial markets. We reassess both risk-pooling via state-contingent bonds, and uncovered interest parity – both were believed to be di...
This article introduces the Risk Balancing Frontier (RBF), a new portfolio boundary in the absolute risk-total return space: the RBF arises when two risk indicators, the Tracking Error Volatility (TEV) and the Value-at-Risk (VaR), are both constrained not to exceed pre-set maximum values. By focusing on the trade-off between the joint restrictions...
The Arrow–Debreu extension of the classic Hylland–Zeckhauser scheme (Hylland and Zeckhauser in J Polit Econ 87(2):293–314, 1979) for a one-sided matching market—called ADHZ in this paper—has natural applications but has instances which do not admit equilibria. By introducing approximation, we define the ϵ\documentclass[12pt]{minimal} \usepackage{am...
The Economic Partnership Agreement (EPA) between Nigeria and the European Union (EU) aims to enhance economic cooperation and trade liberalization. However, it has sparked significant debate due to its potential implications for Nigeria's economic development and sovereignty. This paper critically analyzes the EPA, focusing on the key issues, chall...
Enteric infection is a major cause of enteric disorder in neonatal pigs during the weaning transition. Dihydromyricetin (DMY) is a natural flavanonol compound extracted from Ampelopsis grossedentata with numerous biological activities such as antioxidative and immunomodulatory functions. The objective of this study was to investigate the effects of...
We study sequential assignment systems in which objects are assigned to agents in multiple stages. While such systems are prevalent in real-life school choice and college admissions, Dur and Kesten (Econ Theor 68:251-283, 2019) show that these systems are neither non-wasteful nor straightforward in general. To overcome this negative observation, we...
Measuring the well-being of individuals is a significant challenge for social scientists, policy makers, and suppliers of social programming, since well-being consists of many dimensions that are difficult to measure, both individually and collectively. Moreover, the relative contribution of each of the various aspects to overall well-being is unkn...
We consider classical problems of fair division and generalize the standard requirement on solution mappings known as “replication invariance”. Consider an economy and an allocation chosen by a solution for it. Allowing the replication parameter to vary from agent to agent, we correspondingly adjust the social endowment so that it be possible to as...
This paper examines the impact of different ways of inducing discounting in alternating-offer bargaining games in the lab. We examine this by following the framework of Ochs and Roth (Am Econ Rev, pp. 355–384, 1989) and test whether the model’s predictions find support in data under three different discounting implementations; the shrinking-pie pro...
Succession planning is a critical aspect of business continuity, as it ensures the continued survival and growth of businesses. Zimbabwean businesses face unique challenges, including political and economic instability, which can impact their ability to ensure business continuity. This study aimed to investigate the role of succession planning in e...
Briec et al. (2003) Aggregation of directional distance functions and industrial efficiency. J Econ 79:237–261) showed that industrial and structural efficiency are identical in the context of cost aggregation if all firms use the same technology, a single output is produced and constant returns to scale prevail. In this note it is shown that the s...
Sprumont (Games Econ Behav 2:378–394, 1990) introduces population monotonic allocation schemes (PMAS) and proves that every assignment game with at least two sellers and two buyers, where each buyer-seller pair derives a positive gain from trade, lacks a PMAS. In particular glove games lacks PMAS. We propose a new cooperative TU-game concept, popul...
Structural breaks are considered as permanent changes in the series mainly because of shocks, policy changes, and global crises. Hence, making estimations by ignoring the presence of structural breaks may cause the biased parameter value. In this context, it is vital to identify the presence of the structural breaks and the break dates in the serie...
We introduce expectations-based loss aversion, which can explain the empirically well-documented endowment and attachment effect, into the classical bilateral-trade setting (Myerson and Satterthwaite in J. Econ. Theory 29:265–281, 1983). We derive optimal mechanisms for different objectives and find that relative to no loss aversion, the platform d...
A group of agents are waiting to be served in a facility. Each server in the facility can serve only one agent at a time and agents differ in their cost-types. For this queueing problem, we are interested in finding the order in which to serve agents and the corresponding monetary transfers for the agents. In the standard queueing problem, each age...
Spatially varying coefficient models, such as GWR (Brunsdon et al. in Geogr Anal 28:281–298, 1996 and McMillen in J Urban Econ 40:100–124, 1996), find extensive applications across various fields, including housing markets, land use, population ecology, seismology, and mining research. These models are valuable for capturing the spatial heterogenei...
In this paper we solve the general problem, already formulated in Awerkin and Vargiolu (Decis. Econ. Finance 44(2), 2021) of finding a Nash equilibrium between two agents who can install irreversibly photovoltaic panels in order to maximize their profits of selling the produced electricity net of installation costs, in the case that their cumulativ...
This piece in the series of Milestones starts from the short, clear and highly cited paper by Samuelson (Rev Econ Stat 21(2):75–78, 1939) entitled “Interactions between the Multiplier Analysis and the Principle of Acceleration”, in which the author proposes a linear dynamic model obtained by combining the Keynesian multiplier and the principle of a...
Despite the abundant literature on official development assistance and its effect on recipients, surprisingly little is known about its effect on economic cycles. The aim of this study is to analyze the effect of official development assistance on the economic cycles of Economic and Monetary Community of Central Africa countries (CEMAC). The method...
We consider the problem of revenue-sharing from broadcasting sports leagues by focusing on the axiom of equal benefits from additional viewers introduced in Bergantiños and Moreno-Ternero (J Math Econ 90:65–73, 2020a). This axiom states that when only adding audience to a particular game, the involved teams and non-involved teams should be respecti...
In the article, the national power (NP) of the state and the structural components that form it are population (Pop), territory (Terr), economy (Econ), military power (MP), scientific and technical progress (STP), political will (PW) and geopolitical factors (GF) is analyzed and put into the form of a formula by considering the rules of calculation...
The aim of this study is to explore the factors influencing the viability of small businesses and to offer guidance for navigating the challenges and opportunities inherent in launching and operating these enterprises. Small businesses are pivotal to the economy, driving innovation, job creation, and community enhancement, despite facing significan...
A theory of value is meant to help us
understand what is valuable for indi�viduals and societies and then, based on
this understanding, allocate resources,
set prices, and determine the priori�ties for economic activity. In an era of
econocracy, the narrative that frames value, and the econ�omy as a whole, escapes our understanding and forces...
In this paper, we study economic dynamics in a standard overlapping generations model without production. In particular, using numerical methods, we obtain a necessary and sufficient condition for the existence of a topological chaos. This is a new application of a recent result characterising the existence of a topological chaos for a unimodal int...
We present evidence on the extent of measurement error in German longitudinal earnings data. Qualitatively, we confirm the main result of the international literature: longitudinal earnings data are relatively reliable in a cross section but much less so in first differences. Quantitatively, in the cross section our findings are very similar to tho...
Wealth surveys tend to underestimate wealth concentration at the top due to the “missing rich” problem. I propose a new way of improving the credibility of wealth surveys by making them consistent with tabulated income tax data. This is possible with the harmonized triannual Household Finance and Consumption Survey (HFCS), which collects data on bo...
Our study verified the implications of the spillover of geopolitical risk (GPR) shocks to the economic crisis in Ghana. Our analysis employed the VAR-based spillover models by Diebold and Yilmaz (Int J Forecast 28:57–66, 2012; J Econ 182:119–134, 2014) and the Time-Varying Parameter Vector Autoregressive (TVP-VAR) connectedness approach by Gabauer...
This document goes over the econ in the news tidbits that I have shared, and still share, with students of Principles of Microeconomics courses. Topics are presented in the order in which they are usually covered in textbooks.
aeÜÐ ×ŠØ Âý Îð àae ×ð ÚU aeÁÙèçÌ·¤ ÎÜ ¹é Î ·¤ô ç·¤âaeÙ çãÌñ áè ÕÌaeÌð ÚU ãÌð ãñ Ð ¿é Ùaeß ¿aeãð çßÏaeÙâÖae ·¤ae ãô Øae Üô·¤âÖae ·¤ae, âÖè ÎÜ ç·¤âaeÙô´ ·¤ô çÚU ÛaeaeÙð ×ð ·¤ô §ü ·¤âÚU Ùãè´ ÀôÇÌð Ð ÚU ae'Ø ·Ô ¤ ÕÁÅU ×ð ç·¤âaeÙôấ ð Áé Çȩ ØôÁÙae°´ Âý aeÍç×·¤Ìae ×ð ÚU ãÌè ãñ Ð §â·Ô ¤ ÕaeÎ Öè çÁâ ÌÚU ã âð çâ¿ae §ü ·¤ae ÚU ·¤Õae Õɸ ÚU ãae ãñ ©â ¥Ùé ÂaeÌ...
The US real estate market is a complex ecosystem influenced by multiple factors, making it critical for stakeholders to understand its dynamics. This study uses Zillow Econ (monthly) data from January 2018 to October 2023 across 100 major regions gathered through Metropolitan Statistical Area (MSA) and advanced machine learning techniques, includin...
Does China pull up its 31 mainland provinces as it converges to the incomes of advanced economies? The conventional method of modelling convergence in the Chinese provinces has been the Barro approach. This paper models convergence through a common factor, interpreted as the rising tides that lift the boats—the growth of China lifts its provinces....
This document goes over the data sources and econ. in the news tidbits I have shared, and still share, with students of Principles of Macroeconomics courses. Topics are presented in the order in which they are usually covered in textbooks.
Background/Purpose
Belimumab was approved for the treatment of non-renal SLE in 2011 and has been previously associated with a lower risk of damage progression when compared with prior ‘usual care.’ We sought to determine the risk of damage progression with belimumab versus alternative SLE immunosuppressants in a contemporary real world setting.
M...
This study uses the approach of Ferson and Siegel, Rev Financ Stud 22:2735–2758 (2009), and Ferson, Siegel and Wang, J Financ Quant Anal, forthcoming, (2024) to examine the unconditional mean–variance efficiency, in the presence of conditioning information (UMV), of ten linear factor models in U.K. stock returns. The study finds that the UMV effici...
While previous studies primarily use economy-wide indicators for political risk, Hassan et al. (Quart J Econ 134(4):2135–2202, 2019) propose that a significant portion of political risk manifests itself at the individual firm level. We use their measure of political risk to examine whether and how acquirers’ firm-level idiosyncratic political risks...
This paper investigates risk preferences using an artefactual field experiment conducted with a non-standard subject pool of farmers in Ghana. I introduce an alternative methodology for studying preferences following replication of a seminal risk elicitation procedure by Binswanger (Am J Agric Econ 62(3):395407, 1980). An important feature of both...
Khmelnitskaya and Yanovskaya (Math Methods Oper Res 66(2):255–261, 2007) characterized the Owen value for TU games with a coalition structure by the axioms of efficiency, marginality, symmetry across coalitions and symmetry within coalitions. Symmetry across components requires that components with equally productive in the game between components...
This paper presents alternative unemployment statistics for China, encompassing the extended unemployment rate (U5), which incorporates marginally attached workers, and the nonemployment index (NEI) proposed in recent literature (Hornstein et al. in Econ Q 100(1):1–21). The analysis spans from 1988 to 2021, merging recent data (2012–2018 and 2018–2...
This article aims to present AI-driven learning strategies and provide educational institutions with a practical guide for designing courses that align with the evolving needs of non-IT professionals in the AI-enhanced workplace. The article explores how ongoing advancements in generative AI are transforming the workplace and impacting non-IT profe...
Emotional intelligence is an important concept in organisational psychology that plays a significant role in the performance of employees. Despite this, empirical investigation on the mediating role of work motivation in the relationship between emotional intelligence and job performance is under-researched. Hence, this study examined the relations...