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Social and Behavioral Sciences Commons™
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Articles 1 - 7 of 7
Full-Text Articles in Social and Behavioral Sciences
Introduction, Ken Mccormick
Ending An Internet Auction: Is Ebay's Approach Optimal?, Andrew Behrens
Ending An Internet Auction: Is Ebay's Approach Optimal?, Andrew Behrens
Major Themes in Economics
Internet auctions can be ended in different ways. EBay auctions, for example, end at a predetermined time while Amazon auctions do not. The auctions at Amazon are extended by ten minutes if a bid is submitted within the last ten minutes of an auction. EBay’s hard closing rule induces bidding strategies that can produce inefficient results. Nevertheless, a hard close ending rule is more efficient than the automatic extension rule used by Amazon. EBay’s hard closing rule can be modified to resemble a Vickrey second-price auction. The modifications would make auctions on eBay more efficient.
Protecting The Steel Industry For All The Wrong Reasons, Justin Berry
Protecting The Steel Industry For All The Wrong Reasons, Justin Berry
Major Themes in Economics
In the summer of 2002 President Bush made good on his campaign promise to steel workers. He enacted tariffs of up to 30% on 10 types of steel imports, claiming the U.S. steel industry was suffering from unfair trade practices by foreign firms. Were the integrated steel firms really harmed by foreign competition, or were there other reasons for the decline in the steel industry? Did President Bush have other motives when he placed tariffs on steel imports?
A Look At The Inefficiencies Of The U.S. Tort System And Reforms To Correct Them, Ryan Koopmans
A Look At The Inefficiencies Of The U.S. Tort System And Reforms To Correct Them, Ryan Koopmans
Major Themes in Economics
The two goals of tort law are to compensate victims and to deter unsafe behavior. This paper judges whether changes are needed in the current system by looking at how well it meets these goals. The current system is inefficient and ineffective. Three reforms are analyzed and suggested: contingency-fee reform, the elimination of punitive damages for corporations and large business, and the creation of a no-fault system of compensation for the worst areas of tort law. By enacting these reforms billions of dollars could be saved, while leaving the goals of tort law intact.
R & D Exchange In A Duopoly With Strong Patent Protection, Nicholas Sly
R & D Exchange In A Duopoly With Strong Patent Protection, Nicholas Sly
Major Themes in Economics
One reason firms engage in research and development is to lower production costs. Strong patent protection provides an additional incentive because firms may earn royalties from licensing their discoveries. This paper models the decision to engage in process research and development in a duopoly. A three stage game is posited and the equilibrium quantity and price of knowledge is calculated under various assumptions.
The Relationship Between Team Payroll And Team Performance In The National Hockey League, Brandi Glasnapp
The Relationship Between Team Payroll And Team Performance In The National Hockey League, Brandi Glasnapp
Major Themes in Economics
The National Hockey League (NHL) is in serious financial trouble. More than half of the 30 teams lost money during the 2002-03 season. Player salaries have increased dramatically over the last decade and payroll costs account for the majority of total operating costs. This paper analyzes how team payroll affects team performance. Linear Regression analysis is used to determine the effect of payroll on performance. A Granger Causality test is performed using payroll and performance data from the 1998-99 to 2003-04 seasons. No conclusive evidence is found that supports the common belief that payroll can be used to predict a …