Business Commons^™

Some Economic Issues In Indian Textile Sector, Badri Narayanan G.

Badri Narayanan G.

No abstract provided.

An Overview Of Combinatorial Auctions, Peter Cramton, Yoav Shoham, Richard Steinberg

Peter Cramton

No abstract provided.

Comments On The Rggi Market Design, Peter Cramton

Peter Cramton

No abstract provided.

The 700 Mhz Spectrum Auction: An Opportunity To Protect Competition In A Consolidating Industry, Peter Cramton, Andrzej Skrzypacz, Robert Wilson

Peter Cramton

This paper is provided in connection with the 2007 Telecommunications Symposium – Voice, Video and Broadband: The Changing Competitive Landscape and Its Impact on Consumers, sponsored by the Antitrust Division of the U.S. Department of Justice (“the Division”). Our focus is on the state of competition in the wireless sector. Maintaining a competitive wireless sector is particularly critical if, as the Division’s agenda indicates, wireless services are to function as a competitive alternative to wireline technologies. Strengthening competition is especially important now after recent mergers that consolidated the wireless industry into a few dominant firms (two to four depending on …

Corporate Investment And Analyst Pressure, Sébastien Michenaud

Sébastien Michenaud

Distress During The Great Depression: The Illiquidity-Insolvency Debate Revisited, Gary Richardson

Gary Richardson

During the contraction from 1929 to 1933, the Federal Reserve System tracked changes in the status of all banks operating in the United States and determined the cause of each bank suspension. This essay analyzes chronological patterns in aggregate series constructed from that data. The analysis demonstrates both illiquidity and insolvency were substantial sources of bank distress. Periods of heightened distress were correlated with periods of increased illiquidity. Contagion via correspondent networks and bank runs propagated the initial banking panics. As the depression deepened and asset values declined, insolvency loomed as the principal threat to depository institutions.

Deposit Insurance And Moral Hazard: Capital, Risk, Malfeasance, And Mismanagement. A Comment On ‘Deposit Insurance And Moral Hazard: Evidence From Texas Banking During The 1920s, Gary Richardson

Gary Richardson

A Journal of Economic History article by Linda Hooks and Kenneth Robinson, “Deposit Insurance and Moral Hazard: Evidence from Texas Banking During the 1920s,” contains a contradiction (Hooks and Robinson 2002). Pondering the contradiction in the paper reveals insights that the authors may have overlooked. Hooks and Robinson’s article examines the experience of the banking industry in Texas during the 1920s. Texas operated a deposit-insurance system from January 1, 1910 until February 11, 1927. Deposit insurance was mandatory for all state banks, which were given the choice of two plans in which to participate. The preponderance participated in the depositors …

Check Is In The Mail: Correspondent Clearing And The Banking Panics Of The Great Depression, Gary Richardson

Gary Richardson

Weaknesses within the check-clearing system played a hitherto unrecognized role in the banking crises of the Great Depression. Correspondent check-clearing networks were vulnerable to counter-party cascades. Accounting conventions that overstated reserves available to corresponding institutions may have exacerbated the situation. The initial banking panic began when a correspondent network centered in Nashville collapsed, forcing over 100 institutions to suspend operations. As the contraction continued, additional correspondent systems imploded. The vulnerability of correspondent networks is one reason that banks that cleared via correspondents failed at higher rates than other institutions during the Great Depression.

Comments On The Fcc’S Proposed Competitive Bidding Procedures For Auction 73, Peter Cramton, Gregory Rosston, Andrzej Skrzypacz, Robert Wilson

Peter Cramton

No abstract provided.

Financial Portfolio Strategy: Application To College Of Southwest, Grace S. Thomson

Dr. Grace S. Thomson

Financial Portfolio Strategy Creating value in the organization is the cornerstone of business activity. Value-creation is a concept that has evolved for the past fifty years, stimulating the generation of theories, techniques, models and institutions (Slater and Zwirlein, 1996). Financial markets have developed in response to the dynamic corporate activity, providing different options of financing and investment. Financial decision-making at the executive level becomes critical in the creation of wealth in the organization, and the financial strategies designed by the Top Management Team (TMT) are expected to seek beyond profit maximization (Lankau et al, 2007; Myers, 2001). However, there are …

Possible Design For A Greenhouse Gas Emissions Trading System, Peter Cramton

Peter Cramton

No abstract provided.

Colombia’S Forward Energy Market, Peter Cramton

Peter Cramton

This paper presents a market design for Colombia’s forward energy market, which is scheduled to began in 2008. The forward energy market is an organized market to procure energy for electricity customers on a forward basis. It includes both the regulated market (residential and other small customers) and the nonregulated market (large customers). Currently, regulated customers represent 68% of the total electricity demand and nonregulated customers represent the remaining 32%. The proposed design is novel in that it integrates both the regulated and nonregulated customers into a single organized market. Although the regulated and nonregulated energy products remain distinct, their …

Burnout And Perceived Organisational Support Among Frontline Hospitality Employees, Gabrielle Walters, Michael Raybould

Michael Raybould

This article describes research designed to investigate the relationship between burnout and perceived organisational support (POS) among front-line hospitality employees. Three hundred front-line employees of a multisite hospitality firm were surveyed using an instrument comprising the general survey version of the Maslach Burnout Inventory and the 17-item version of the Survey of Perceived Organisational Support (POS). Significant relationships were found between POS and each of the three burnout dimensions of exhaustion, cynicism and personal efficacy. The findings of this study contribute to the existing academic literature and provide hospitality managers with a better understanding of the factors that contribute to …

Affidavit Of Peter Cramton, Peter Cramton

Peter Cramton

Affidavit arguing that HQ manipulated the NYISO TCC and day-ahead energy markets. On behalf of DC Energy, LLC.

Economist Letter To Ntia On 700 Mhz Spectrum Auction, Peter Cramton, Andrzej Skrzypacz, Simon Wilkie, Robert Wilson

Peter Cramton

As the 700 MHz auction approaches, we are writing to clear up a common misconception about the nature of spectrum auctions and the impact of various rules on auction revenues.

Essential Entry: Revenues In The 700 Mhz Spectrum Auction, Peter Cramton

Peter Cramton

A common misconception is that an open access provision on a sliver of the 700 MHz spectrum would reduce auction revenues. In fact, the open access, wholesale, and bidding credit provisions put forth by Frontline Wireless, will motivate new entry, enhance competition in the auction, and raise revenues.

Water Walls: An Effective Option For High Performance Buildings, David A. Bainbridge

David A Bainbridge

Water wall thermal mass has been proven over the last 40 years on a wide range of residential and commercial projects in temperate and cold climates. It provides better thermal comfort and more efficient energy transfer at reasonable cost.

A Taxonomy Of Finance Theories, Grace S. Thomson

Dr. Grace S. Thomson

Finance Theories Taxonomy This document presents a taxonomy of selected finance theories developed in past 5 decades by academics, practitioners and scholars in the United States, Europe, Asia and Latin America. A total of 14 theories and models are synthesized in this work, organized in five tables with the same structure: Theories of capital structure; capital budgeting and cost of equity; asset valuation, financial behavior and international finances. Each table contains theories organized alphabetically with an indication of its germinal or current character. The description of the theory is accompanied by current examples of empirical research that updates or contradicts …

Active Learning: Impact Of Use Of Webcasts In A Business Class, Grace S. Thomson

Dr. Grace S. Thomson

No abstract provided.

Revenues In The 700 Mhz Spectrum Auction, Peter Cramton, Andrzej Skrzypacz, Robert Wilson

Peter Cramton

There have been several comments that criticize auction rules that prevent the two major low-frequency incumbents from winning all of the newly available spectrum and incorporating it into their proprietary networks. Such rules include new-entrant set-asides, new-entrant bidding credits, and the open access plan. We disagree with these criticisms and argue that given the current market structure, such rules are likely to improve welfare and auction revenues. We are submitting this report to provide sound economic analysis of these claims.

Economic Comments On The Design Of The 700 Mhz Spectrum Auction, Peter Cramton, Andrzej Skrzypacz, Robert Wilson

Peter Cramton

We comment on the service and auction rules discussed in the Report and Order and Further Notice of Proposed Rule Making, FCC 07-72, 27 April 2007. We recommend that the FCC designate one license for a wholesale operation that provides open access nationwide on nondiscriminatory terms. This is necessary to enable entry of new businesses offering wireless services in retail markets. It also enables local operators to offer roaming at competitive prices. The new license accords with the Commission’s policy to encourage competition, and recognizes the benefits to consumers from low prices and expanded services.

Affidavit Of Peter Cramton, Peter Cramton

Peter Cramton

Affidavit arguing that the Illinois auction for energy for small customers was a competitive auction. On behalf of J. Aron & Company and Morgan Stanley Capital Group Inc.

Product Design For Colombia’S Regulated Market, Peter Cramton

Peter Cramton

This paper presents a product design for Colombia’s regulated market (MOR), which is scheduled to began in 2008. The regulated market consists of residential and other small customers. Currently, regulated customers represent 69% of the total load. I propose a market based on a single load-following product in which each supplier bids to serve its desired share of the Colombia regulated load. Thus, a supplier that wins a 10% share at auction has an obligation to serve 10% of the actual regulated load in every hour of the commitment period. The supplier is paid the MOR clearing price for every …

Deconstruction Of Leadership Assumptions- A Personal Perspective, Grace S. Thomson

Dr. Grace S. Thomson

No abstract provided.

Critical Thinking: Applications To Leadership And Scholarship, Grace S. Thomson

Dr. Grace S. Thomson

No abstract provided.

Deep Learning- A Reflection From The Regents' Academy, Grace S. Thomson

Dr. Grace S. Thomson

No abstract provided.

A Control Theory Model Of Pricing For A Firm Facing A Stochastic Environment – A Firm’S Dynamic Pricing Strategy When Faced With The Threat Of Antitrust Action, Manak Gupta, Atin Basu Choudhary

Atin Basu Choudhary

No abstract provided.

Why Large Licenses Are Best For The 700 Mhz Spectrum Auction, Peter Cramton

Peter Cramton

No abstract provided.

Market-Based Alternatives For Managing Congestion At New York’S Laguardia Airport, Peter Cramton, Michael O. Ball, Lawrence M. Ausubel, Frank Berardino, George Donohue, Mark Hansen, Karla Hoffman

Peter Cramton

We summarize the results of a project that was motivated by the expiration of the “High Density Rule,” which defined the slot controls employed at New York’s LaGuardia Airport for more than 30 years. The scope of the project included the analysis of several administrative measures, congestion pricing options and slot auctions. The research output includes a congestion pricing procedure and also the specification of a slot auction mechanism. The research results are based in part on two strategic simulations. These were multi-day events that included the participation of airport operators, most notably the Port Authority of New York and …

A Review Of Transformational Leadership Models And Its Linkage To The Scholarship/Practice/Leadership Model, Grace S. Thomson

Dr. Grace S. Thomson

The success of organizations is the result of a combination of factors: financial, material and technological resources, logistics, and human capital.

These factors are put together to achieve the desired goals consistent with the corporate mission. In this context, firms are in constant seeking of the best individuals who will lead and carry out this journey to success. These individuals are expected to have special characteristics that ensure that their actions will turn out into positive results for the organization. These extraordinary individuals are the leaders.

This document will present a discussion of four leadership theories, their similarities and differences …