Open Access. Powered by Scholars. Published by Universities.®
- Discipline
-
- Business (13)
- Behavioral Economics (11)
- Finance (11)
- Law (11)
- Public Affairs, Public Policy and Public Administration (10)
-
- Law and Economics (9)
- Economic Policy (7)
- Industrial Organization (7)
- Labor Economics (7)
- E-Commerce (6)
- Arts and Humanities (5)
- Sociology (5)
- Constitutional Law (4)
- Entrepreneurial and Small Business Operations (4)
- Legal History (4)
- Organizational Behavior and Theory (4)
- Other Economics (4)
- Policy Design, Analysis, and Evaluation (4)
- Political Economy (4)
- Antitrust and Trade Regulation (3)
- Communications Law (3)
- Econometrics (3)
- Growth and Development (3)
- Legal Studies (3)
- Legal Theory (3)
- Political Science (3)
- Science and Technology Law (3)
- Institution
- Keyword
-
- Auctions (6)
- Market Design (6)
- Electricity and Gas (4)
- Theory and Practice (4)
- Economics (2)
-
- Industrial Organization (2)
- Risk (2)
- Risk Assessment Methodologies. (1)
- 17th amendment (1)
- Accounting Law (1)
- Agricultural Economics (1)
- Anticommons (1)
- Applied Economics (1)
- Asian crisis (1)
- Asset Pricing (1)
- Beta (1)
- Bond Interest Rates (1)
- Brady (1)
- Collusion (1)
- Commitment (1)
- Commons (1)
- Comparative dynamics (1)
- Conservation (1)
- Constitutional law (1)
- Corporate Finance (1)
- Corporations Law (1)
- Crisis (1)
- Critical discount factor. (1)
- Cultural rights (1)
- Debt (1)
- Publication
-
- All Faculty Scholarship (8)
- Peter Cramton (6)
- Michael Sack Elmaleh (4)
- Economics Faculty Articles and Research (2)
- Ujjayant Chakravorty (2)
-
- Agriculture Department Seminar Series (1)
- Archived Theses and Dissertations (1)
- Center for Economic Development Technical Reports (1)
- Donald J. Kochan (1)
- ESI Publications (1)
- Economics Faculty Publications (1)
- Faculty and Research Publications (1)
- Human Rights & Human Welfare (1)
- José-Manuel Martin Coronado (1)
- Michael Raith (1)
- Research Collection School Of Economics (1)
- Scripps Faculty Publications and Research (1)
- Publication Type
- File Type
Articles 1 - 30 of 34
Full-Text Articles in Economic Theory
Determinantes Explícitos E Implícitos De La Deuda Externa Pública Peruana, José Manuel Martin Coronado
Determinantes Explícitos E Implícitos De La Deuda Externa Pública Peruana, José Manuel Martin Coronado
José-Manuel Martin Coronado
This research aims to prove that sound economic policies are nothing more that basic conditions for the foreign public debt problem. In fact, by studying the factors of public debt issues in Peru, Latin America and the emerging economies it’s clear that some implicit economic and non-economic factors have to be considered because of the social complexity and variable characteristics in emerging economies. This causes failures in economic policies assumptions, inefficiencies, distorted causality and nonrational behavior. This paper proposes, first, to perform a deep and comparative analysis of the foreign debt determinants in emerging economies, then, to allocate financial resources, …
Estimating Auction Revenues For The Proposed Fcc Sale Of 3g Spectrum For Broadband And Advanced Wireless Services, Peter Cramton
Estimating Auction Revenues For The Proposed Fcc Sale Of 3g Spectrum For Broadband And Advanced Wireless Services, Peter Cramton
Peter Cramton
No abstract provided.
The Relativity Of Risk Assessments In Investment Decisions, Michael Sack Elmaleh
The Relativity Of Risk Assessments In Investment Decisions, Michael Sack Elmaleh
Michael Sack Elmaleh
The level of risk in investing in a closely held firm is related to the qualifications of the control managing investor. While there is generally a minimum threshold of expertise and capital that a control investor must possess, beyond this threshold the potential levels of expertise and capital can vary significantly. The level of enterprise risk is inversely related to the level of expertise and capital possessed by the control investor. The more resources and expertise the investor possesses, the less the operational risk. Thus enterprise risk is a relative and not an inherent fixed property of an enterprise. Furthermore, …
Teaching The Ethical Foundations Of Economics, Jonathan B. Wight
Teaching The Ethical Foundations Of Economics, Jonathan B. Wight
Economics Faculty Publications
Some economists consider their discipline a science, and thereby divorced from messy ethical details, the normative passions of right and wrong. They teach in a moral vacuum, perhaps even advocating economic agents' operating independently and avariciously, asserting that this magically produces the greatest good for society.
The Income Method Of Valuation: A False Analogy Between Bonds And Stocks, Michael Sack Elmaleh
The Income Method Of Valuation: A False Analogy Between Bonds And Stocks, Michael Sack Elmaleh
Michael Sack Elmaleh
The discounting of future income streams by a risk adjusted rate of return by proponents of the income method reflects a misplaced faith in the ability to project accurately future income streams and pick out the “right” rate of return. Future income streams are fairly reliably predictable when analyzing a debt instrument. However, equity investment future income streams are notoriously unpredictable. Similarly assessing the risk associated with realizing returns from a fixed security is comparatively easy in comparison with assessing the risks associated with equity returns. The widely used Beta has not proved to be a very stable measure of …
Uniformity Of Economic Freedom And Economic Growth, Ahmed Sabry Abou-Zaid
Uniformity Of Economic Freedom And Economic Growth, Ahmed Sabry Abou-Zaid
Archived Theses and Dissertations
No abstract provided.
Do Investors Demand Higher Rates Of Return On Risky Investments In Closely Held Small Businesses?, Michael Sack Elmaleh
Do Investors Demand Higher Rates Of Return On Risky Investments In Closely Held Small Businesses?, Michael Sack Elmaleh
Michael Sack Elmaleh
Investors in small closely held firms often are oblivious to risk if the rewards are perceived to be sufficiently high. Risk may also be ignored because such investors seek more than just increased cash flow. These investors often seek higher order psychological returns such as job challenge and status.
The Role Of Valuation Specialists: Telling It Like It Is Or Telling It Like It Ought To Be, Michael Sack Elmaleh
The Role Of Valuation Specialists: Telling It Like It Is Or Telling It Like It Ought To Be, Michael Sack Elmaleh
Michael Sack Elmaleh
While the buying and selling of businesses based on formulas may not be the soundest method of pricing a business the more rigorous methods do not always provide the best guidance either. Ideally prospective buyers should have knowledge of both formula methods and the more rigorous approaches.
Upset Pricing In Auction Markets: An Overview, Peter Cramton, Susan Athey, Allan Ingraham
Upset Pricing In Auction Markets: An Overview, Peter Cramton, Susan Athey, Allan Ingraham
Peter Cramton
US-Canada Softwood Lumber Trade Dispute, On behalf of British Columbia Ministry of Forests.
Competitive Bidding Behavior In Uniform-Price Auction Markets, Peter Cramton
Competitive Bidding Behavior In Uniform-Price Auction Markets, Peter Cramton
Peter Cramton
For Duke Energy.
Rebuttal Addendum: Assessment Of Submissions Of The California Parties, Peter Cramton
Rebuttal Addendum: Assessment Of Submissions Of The California Parties, Peter Cramton
Peter Cramton
No abstract provided.
Competitive Bidding Behavior In Uniform-Price Auction Markets, Peter Cramton
Competitive Bidding Behavior In Uniform-Price Auction Markets, Peter Cramton
Peter Cramton
Profit-maximizing bidding in uniform price auction markets involves bidding above marginal cost. It therefore is not surprising that such behavior is observed in electricity markets. Common bidding behavior such as “hockey stick” bids easily are explained by suppliers determining their supply offers to maximize profits. This incentive to bid above marginal cost is not the result of coordinated action among the bidders. Rather, each bidder is independently selecting its bid to maximize profits based on its estimate of the residual demand curve it faces. Profit-maximizing bidding does not mean that “the sky’s the limit.” Typically, bidders are limited in how …
The Film Industry Cluster Development Recommendations For Western Massachusetts, Center For Economic Development
The Film Industry Cluster Development Recommendations For Western Massachusetts, Center For Economic Development
Center for Economic Development Technical Reports
California is home to the world's largest movie clusters. It grew out of the need to extend beyond New York's confined environment. The opportunities that lay ahead were carefully planned and exploited. For Western Massachusetts to learn from this example it will have to discover a niche that can be marketed as truly worthy of attracting businesses away from established clusters. This will require a top-down approach from government bodies to ensure that a successful cluster fits wit the New England lifestyle. Current opportunities exist within factory towns that have available old mill buildings and infrastructure. Unfortunately the establishment of …
Competition, Risk And Managerial Incentives, Michael Raith
Competition, Risk And Managerial Incentives, Michael Raith
Michael Raith
This paper examines how the degree of competition among firms in an industry affects the optimal incentives that firms provide to their managers. A central assumption is that there is free entry and exit in the industry, which implies that changes in the nature of competition lead to changes in the equilibrium market structure. The main result is that as the intensity of product market competition increases (as a result of greater product substitutability or greater market size), principals unambiguously provide stronger incentives to their agents to reduce costs. At the same time, more intense competition also leads to more …
Electricity Market Design: The Good, The Bad, And The Ugly, Peter Cramton
Electricity Market Design: The Good, The Bad, And The Ugly, Peter Cramton
Peter Cramton
This paper examines principles of market design as applied to electricity markets. I illustrate the principles with examples of both good and bad designs. I discuss one of the main design challenges—dealing with market power. I then discuss FERC’s choice of a standard market design.
Excess Capacity: A Note, Sougata Poddar
Excess Capacity: A Note, Sougata Poddar
Economics Faculty Articles and Research
In a two period model of strategic entry deterrence where the incumbent firm moves before the entrant by installing capacity for production, Dixit (1980) argued that in a (perfect) equilibrium excess capacity would not be observed, contradicting Spence's (1977) result on the same issue. In this note, we show that Dixit may not always remain true when we allow for demand uncertainty.
Power, Privilege, And Special Interests: Rent Seeking And Subsidies In Agriculture, Matt Bogard
Power, Privilege, And Special Interests: Rent Seeking And Subsidies In Agriculture, Matt Bogard
Agriculture Department Seminar Series
This presentation covers what Public Choice economists refer to as ‘rent seeking,’ generally seeking favor or special privilege from government through subsidies or regulatory advantages. Particularly, the biotech industry is the area of focus for this presentation. Problems with rent seeking in the biotech industry involve less innovation and industry consolidation. Policies related to biotech regulation, school lunch programs, the Clean Air Act, and ethanol subsidies are discussed. A game theoretic approach is used and it is concluded that issues related to rent seeking and special interests are not adequately addressed by recent campaign finance reform efforts. Alternatives such as …
The Political Economy Of Perverse Financial Liberalization: Examples From The Asian Crisis, Nancy Neiman Auerbach, Thomas D. Willett
The Political Economy Of Perverse Financial Liberalization: Examples From The Asian Crisis, Nancy Neiman Auerbach, Thomas D. Willett
Scripps Faculty Publications and Research
Debates continue to rage about the causes of recent currency and financial crises around the globe and their implications for the desirability of domestic and international financial liberalization. Beneath the heated exchanges of the most vocal disputants, a quiet consensus is beginning to emerge among serious scholars and policy officials. The big lesson from these crises is that while financial liberalization is still a desirable goal, it must be approached very carefully. It’s not just that without the proper pre-conditions liberalization will not provide full benefits. The results can sometimes be disastrous. What was once considered to be an arcane …
Globalism, Human Rights And The Problem Of Individualism, Richard Mcintyre
Globalism, Human Rights And The Problem Of Individualism, Richard Mcintyre
Human Rights & Human Welfare
A review of:
Global Economy, Global Justice: Theoretical Objections and Policy Alternatives to Neoliberalism by George F.DeMartino. New York: Routledge, 2000. 296pp.
Getting Off The Dole: Why The Court Should Abandon Its Spending Doctrine And How A Too-Clever Congress Could Provoke It To Do So, Mitchell N. Berman
Getting Off The Dole: Why The Court Should Abandon Its Spending Doctrine And How A Too-Clever Congress Could Provoke It To Do So, Mitchell N. Berman
All Faculty Scholarship
No abstract provided.
Immigration And The Workplace: Immigration Restrictions As Employment Discrimination, Howard F. Chang
Immigration And The Workplace: Immigration Restrictions As Employment Discrimination, Howard F. Chang
All Faculty Scholarship
No abstract provided.
Rjvs In Product Innovation And Cartel Stability, Luca Lambertini, Sougata Poddar, Dan Sasaki
Rjvs In Product Innovation And Cartel Stability, Luca Lambertini, Sougata Poddar, Dan Sasaki
Economics Faculty Articles and Research
We characterise the interplay between firms' decision in product development undertaken through a research joing venture (RJV), and the nature of their ensuing market behaviour. Participant firms in an RJV face a trade-off between saving the costs of product innovation by developing similar products to one another, e.g. by sharing most of the basic components of their products, and investing higher initial efforts in product innovation in order to develop more distinct products. We prove that the more the fims' products are distinct and thus less substitutable, the easier their collusion is to sustain in the marketing supergame, either in …
Rethinking The Commitment To Free, Local Television, Christopher S. Yoo
Rethinking The Commitment To Free, Local Television, Christopher S. Yoo
All Faculty Scholarship
One of the most enduring tenets of U.S. television policy has been the commitment to localism. I suggest that the FCC's localism policy can be disaggregated into four, more specific commitments: (1) the preference for locally oriented over nationally oriented programming, (2) the preference for free (i.e., advertising-supported) over pay television, (3) the preference for single-channel over multi-channel television technologies, and (4) the preference for incumbents over new entrants and new technologies. I then analyze each of these commitments in light of what is perhaps the most distinctive feature of the television industry, which is the fact that its cost …
The Rise And Demise Of The Technology-Specific Approach To The First Amendment, Christopher S. Yoo
The Rise And Demise Of The Technology-Specific Approach To The First Amendment, Christopher S. Yoo
All Faculty Scholarship
This article examines how analytical, technological, and doctrinal developments are forcing the courts to reconsider their media-specific approach to assessing the constitutionality of media regulation. In particular, it offers a comprehensive reevaluation of the continuing validity of the Broadcast Model of regulation, which contains features, such as licensing and direct content regulation, that normally would be considered paradigmatic violations of the First Amendment. Specifically, the analysis assesses the theoretical coherence of the traditional justification for extending a lesser degree of First Amendment protection to broadcasting than to other media (i.e., the physical scarcity of the electromagnetic spectrum) as well as …
Converted Or Unconverted: To Whom Do We Preach?, Amy L. Wax
Converted Or Unconverted: To Whom Do We Preach?, Amy L. Wax
All Faculty Scholarship
No abstract provided.
Of Property And Anti-Property, Abraham Bell, Gideon Parchomovsky
Of Property And Anti-Property, Abraham Bell, Gideon Parchomovsky
All Faculty Scholarship
Private property is widely perceived as a potent prodevelopment and anticonservationist force. The drive to accumulate wealth through private property rights is thought to encourage environmentally destructive development; legal protection of such property rights is believed to thwart environmentally friendly public measures. Indeed, property rights advocates and environmentalists are generally described as irreconcilable foes. This presumed clash often leads environmentalists to urge public acquisition of private lands. Interestingly, less attention is paid to the possibility that the government may prove no better a conservator than private owners. Government actors often mismanage conservation properties, collaborating with private developers to dispose of …
Enron, Sarbanes-Oxley And Accounting: Rules Versus Principles Versus Rents, William W. Bratton
Enron, Sarbanes-Oxley And Accounting: Rules Versus Principles Versus Rents, William W. Bratton
All Faculty Scholarship
No abstract provided.
Emotion And Financial Markets, Lucy F. Ackert, Bryan K. Church, Richard Deaves
Emotion And Financial Markets, Lucy F. Ackert, Bryan K. Church, Richard Deaves
Faculty and Research Publications
No abstract provided.
Access To Networks: Economic And Constitutional Connections, Daniel F. Spulber, Christopher S. Yoo
Access To Networks: Economic And Constitutional Connections, Daniel F. Spulber, Christopher S. Yoo
All Faculty Scholarship
A fundamental transformation is taking place in the basic approach to regulating network industries. Policy makers are in the process of abandoning their century-old commitment to rate regulation in favor of a new regulatory approach known as access regulation. Rather than controlling the price of outputs, the new approach focuses on compelling access to and mandating the price of inputs. Unfortunately, this shift in regulatory policy has not been met with an accompanying shift in the manner in which regulatory authorities regulate prices. Specifically, policy makers have continued to base rates on either historical or replacement cost. We argue that …
The Evolution Of Human Life Expectancy And Intelligence In Hunter-Gatherer Economies, Hillard Kaplan
The Evolution Of Human Life Expectancy And Intelligence In Hunter-Gatherer Economies, Hillard Kaplan
ESI Publications
The economics of hunting and gathering must have driven the biological evolution of human characteristics, since hunter-gatherer societies prevailed for the two million years of human history. These societies feature huge intergenerational resource flows, suggesting that these resource flows should replace fertility as the key demographic consideration. It is then theoretically expected that life expectancy and brain size would increase simultaneously, as apparently occurred during our evolutionary history. The brain here is considered as a direct form of bodily investment, but also crucially as facilitating further indirect investment by means of learning-by-doing.