Economics Commons^™

Bilateral Bargaining With Externalities, Catherine De Fontenay, Joshua Gans

Catherine de Fontenay

This paper provides an analysis of a non-cooperative pairwise bargaining game between agents in a network. We establish that there exists an equilibrium that generates a coalitional bargaining division of the reduced surplus that arises as a result of externalities between agents. That is, we provide a non-cooperative justification for a cooperative division of a non-cooperative surplus. The resulting division is akin to the Myerson-Shapley value with properties that are particularly useful and tractable in applications. We demonstrate this by examining buyer-seller networks and vertical foreclosure.

Evaluating Big Deal Journal Bundles, Ted Bergstrom

Ted C Bergstrom

Large commercial publishers sell bundled online subscriptions to their entire list of academic journals at prices significantly lower than the sum of their á la carte prices. Bundle prices differ drastically between institutions, but they are not publicly posted. The data that we have collected enable us to compare the bundle prices charged by commercial publishers with those of nonprofit societies and to examine the types of price discrimination practiced by commercial and nonprofit journal publishers. This information is of interest to economists who study monopolist pricing, librarians interested in making efficient use of library budgets, and scholars who are …

The Effect Of Personality Traits On Subject Choice And Performance In High School: Evidence From An English Cohort, Silvia Mendolia, Ian Walker

Silvia Mendolia

This paper investigates the relationship between personality traits in adolescence and performance in high school using a large and recent cohort study. In particular, we investigate the impact of locus of control, self-esteem and work ethics at age 15, on test scores at age 16, and on subject choices and subsequent performance at age 17-18. In particular, individuals with external locus of control or with low levels of self-esteem seem less likely to have good performance in test scores at age 16 and to pursue further studies at 17-18, especially in mathematics or science. We use matching methods to control …

Housing Policies In Singapore: Evaluation Of Recent Proposals And Recommendations For Reform, S Y Phang, David Lee, Alan Cheong, Kok-Fai Phoon, Karol Wee

PHANG Sock Yong

No abstract provided.

Country-Specific Factors And The Pattern Of Intra-Industry Trade In China's Manufacturing, Zhaoyong Zhang, Chuan Li

Zhaoyong Zhang

No abstract provided.

Asian Monetary Integration: A Structural Var Approach, Zhaoyong Zhang, K Sato, M Mcaleer

Zhaoyong Zhang

No abstract provided.

Whither A Currency Union In Greater China?, Zhaoyong Zhang, Kiyotaka Sato

Zhaoyong Zhang

No abstract provided.

On Singapore’S Taxation System, J H Liu, Zhaoyong Zhang

Zhaoyong Zhang

No abstract provided.

How Intra-Industry Trade Is Related To Income Difference And Foreign Direct Investment In East Asia, Chan-Hyun Sohn, Zhaoyong Zhang

Zhaoyong Zhang

No abstract provided.

Is Greater China A Currency Union? A Tale Of The Chinese Trio, Zhaoyong Zhang, Kiyotaka Sato, Michael Mcaleer

Zhaoyong Zhang

No abstract provided.

Real Output Co-Movements In East Asia: A Cointegration Approach, K Sato, Zhaoyong Zhang

Zhaoyong Zhang

No abstract provided.

Shocking Aspects Of East Asian Monetary Integration: An Optimum Currency Area Approach, K Sato, Zhaoyong Zhang, M Mcaleer

Zhaoyong Zhang

No abstract provided.

Study Of The Measurement And Determinants Of Intra-Industry Trade In East Asia, Michael Thorpe, Zhaoyong Zhang

Zhaoyong Zhang

No abstract provided.

Towards An East Asian Monetary Union: An Econometric Analysis Of Shocks, K Sato, Zhaoyong Zhang, M Mcaleer

Zhaoyong Zhang

No abstract provided.

How Intra-Industry Trade Is Related To Income Difference And Foreign Direct Investment In East Asia, Chan-Hyun Sohn, Zhaoyong Zhang

Zhaoyong Zhang

No abstract provided.

Volatility Dynamics Of The Uk Business Cycle: A Multivariate Asymmetric Garch Approach, Kin-Yip Ho, Albert K. Tsui, Zhaoyong Zhang

Zhaoyong Zhang

No abstract provided.

The Dynamics Of Political And Economic Interactions Between Mainland China And Taiwan, Zhaoyong Zhang, X Xu, W.B. Zhang

Zhaoyong Zhang

No abstract provided.

Improving Bid Efficiency For Humanitarian Food Aid Procurement, Aniruddha Bagchi, Jomon Aliyas Paul, Michael J. Maloni

Jomon A. Paul

The competitive bid process used by the US Department of Agriculture (USDA) to procure food supplies and transportation services for humanitarian food aid is subject to bidder gaming that can increase prices and deter competition. Additionally, suppliers and carriers are matched after bid submission, preventing synergies from coordinated planning. Given these concerns, we determine the optimal auction mechanism to minimize gaming then justify pre-bid planning between suppliers and carriers using properties of the cost distribution functions. We operationalize these changes with a uniform price auction. The improved mechanism should deter gaming, enhance bid participation, and increase delivered food aid volumes.

Your Friends And Neighbors: Localized Economic Development And Criminal Activity, Matthew Freedman, Emily Owens

Matthew Freedman

We exploit a sudden shock to demand for a subset of low-wage workers generated by the 2005 Base Realignment and Closure (BRAC) program in San Antonio, Texas to identify the effects of localized economic development on crime. We use a difference-in-difference methodology that takes advantage of variation in BRAC’s impact over time and across neighborhoods. We find that appropriative criminal behavior increases in neighborhoods where a fraction of residents experienced increases in earnings. This effect is driven by residents who were unlikely to be BRAC beneficiaries, implying that criminal opportunities are important in explaining patterns of crime.

Forthcoming in the …

Il Calcolo Del Sviluppo Umano, Nicolás Persico

Nicolás Persico

Dinamica sociale e contratto socio economico: quando un sociologo, fisico, ingegnere e finanziario si incontrano.

Accounting For Spanish Business Cycles, Jesus Rodriguez Lopez, Mario Solis-Garcia

Mario Solis-Garcia

No abstract provided.

Economy Of Mutuality: Merging Financial And Social Sustainability

kjackson@fordham.edu

The article posits the concept of economy of mutuality as an intellectual mediation space for shifts in emphasis between market and social structures within economic theory and practice. Economy of mutuality, it is contended, provides an alternative frame of reference to the dichotomy of market economy and social economy, for inquiry about what business is for and what values it presupposes and creates. The article centers around the objective of gaining a broadened understanding of business so as to include not just market economy, but social enterprise and social economy. In pursuit of this objective, a range of various archetypes …

Learning Through Experimentation: Creating An Authentic Experiment With Behavioral Economics Students, Stacie Bosley

Stacie Bosley

Grading Standards And Education Quality, Raphael Boleslavsky, Christopher Cotton

Raphael Boleslavsky

We consider a game in which schools compete to place graduates by investing in education quality and by choosing grading policies. In equilibrium, schools strategically adopt grading policies that do not perfectly reveal graduate ability to evaluators (including employers and graduate schools). We compare equilibrium outcomes when schools grade strategically to equilibrium outcomes when evaluators perfectly observe graduate ability. With strategic grading, grades are less informative, and evaluators rely less on grades and more on a school's quality when assessing graduates. Consequently, under strategic grading, schools have greater incentive to invest in quality, and this can improve evaluator welfare.

Wages And Employment Dynamics In Economies With Large Firms, Uncertainty And Labor Turnover Costs: A Viscosity Theory Approach, Andrea Vindigni

Andrea Vindigni

No abstract provided.

The Effect Of Chronic Pain On Life Satisfaction: Evidence From Australian Data, Silvia Mendolia, Paul Mcnamee

Silvia Mendolia

This paper investigates the relationship between chronic pain and life satisfaction using the Household, Income and Labour Dynamics of Australia Survey (HILDA). We estimate the negative impact on life satisfaction and examine the persistence of the effect over multiple years. Chronic pain is associated with poor health conditions, disability, decreased participation in the labour market and lower quality of life. We calculate the compensating income variation of chronic pain, based on the measurement of chronic pain, the life satisfaction of individuals and the income of households. Panel data models with random and fixed effects are used to control for characteristics …