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Articles 1 - 26 of 26
Full-Text Articles in Behavioral Economics
Prediction Markets To Forecast Electricity Demand, Peter Cramton, Luciano De Castro
Prediction Markets To Forecast Electricity Demand, Peter Cramton, Luciano De Castro
Luciano I. de Castro
Forecasting electricity demand for future years is an essential step in resource planning. A common approach is for the system operator to predict future demand from the estimates of individual distribution companies. However, the predictions thus obtained may be of poor quality, since the reporting incentives are unclear. We propose a prediction market as a form of forecasting future demand for electricity. We describe how to implement a simple prediction market for continuous variables, using only contracts based on binary variables. We also discuss specific issues concerning the implementation of such a market.
On Some Covariance Inequalities For Monotonic And Non-Monotonic Functions, Martin Egozcue, Luis Fuentes García, Wing Keung Wong
On Some Covariance Inequalities For Monotonic And Non-Monotonic Functions, Martin Egozcue, Luis Fuentes García, Wing Keung Wong
Martin Egozcue
No abstract provided.
A Nation In Dilemma, Professor Issam A.W. Mohamed
A Nation In Dilemma, Professor Issam A.W. Mohamed
Professor Issam A.W. Mohamed
following the Global financial Crisis there were economic collapses in all the world. Sudan officials claimed that the country was immune from that epidemic. Such declaration were truly weird as it has been deeply affected from the first instant. That article presented many questions about the economic and social conditions and the eminent southern Sudan, Darfur crises.
There Should Be Little Or No Liquidity Discounts For Controlling Interests In Closely Held Businesses, Michael Sack Elmaleh
There Should Be Little Or No Liquidity Discounts For Controlling Interests In Closely Held Businesses, Michael Sack Elmaleh
Michael Sack Elmaleh
The application of liquidity discounts to the appraised values of controlling interests in closely held businesses reflects a failure of the valuation community to fully appreciate the fact that these equity interests belong to a fundamentally different investment class than publicly traded securities. Investors in publicly traded securities have dramatically different expectations about the benefits and sacrifices of such investments, compared to the expectations of benefits and sacrifices of investors in closely held companies. Investors in publicly traded securities expect their minority interest investments to be highly liquid, yield free cash flow, and require no participation in the management of …
Financial Regulation And Securitization: Evidence From Subprime Mortgage Loans, Benjamin J. Keys, Tanmoy K. Mukherjee, Amit Seru, Vikrant Vig
Financial Regulation And Securitization: Evidence From Subprime Mortgage Loans, Benjamin J. Keys, Tanmoy K. Mukherjee, Amit Seru, Vikrant Vig
Benjamin J. Keys
We examine the consequences of existing regulations on the quality of mortgage loans originations in the originate to distribute (OTD) market. The information asymmetries in the OTD market can lead to moral hazard problems on the part of lenders. We find, using a plausibly exogenous source of variation in the ease of securitization, that the quality of loan originations varies inversely with the amount of regulation: more regulated lenders originate loans of worse quality. We interpret this result as possible evidence that the fragility of lightly regulated originators' capital structure can mitigate moral hazard. In addition, we find that incentives …
The Janjaweed And The Armed Movements Of Sudan, Professor Issam A.W. Mohamed
The Janjaweed And The Armed Movements Of Sudan, Professor Issam A.W. Mohamed
Professor Issam A.W. Mohamed
The emergence of the Janjaweed as an armed force working with the government to suppress rebellions in Darfur region outraged the international community. They were marked by brutality, destruction, burning, killings and mass rapes. They were also described as Arabs. However, that was not the whole picture, no one observed the living conditions of the Arabs or how were they victims also as the other inhabitants of Darfur. No one also observed that they were used by the Ingaz government to execute the dirty work and bear the consequences. The Arab tribes however, also had other thoughts as they realized …
Ethics, Evidence And International Debt, Julie Nelson
Ethics, Evidence And International Debt, Julie Nelson
Julie A. Nelson
The assumption that contracts are largely impersonal, rational, voluntary agreements drawn up between self-interested individual agents is a convenient fiction, necessary for analysis using conventional economic methods. Papers prepared for a recent conference on ethics and international debt were shaped by just such an assumption. The adequacy of this approach is, however, challenged by evidence about who is affected by international debt, how contracts are actually made and followed, the behavior of actors in financial markets, and the motivations of scholars themselves. This essay uses insights from feminist and relational scholarship from several disciplines to analyze the reasons for this …
Assessing The Viability Of Investment In Sudan (1979-2008), Professor Issam A.W. Mohamed
Assessing The Viability Of Investment In Sudan (1979-2008), Professor Issam A.W. Mohamed
Professor Issam A.W. Mohamed
Most developing and underdeveloped countries beside Sudan suffer from low levels of income in addition to the low savings that are result from the lack of public savings channels. Hence, investments depend on the individuals' abilities on savings where they are major motivating vehicle for economic activity due to its direct correlation with capital accumulation process that increases the productive capacity for the national economy and help to create job opportunities and achieving economic development. Subsequently, the importance of the investment comes from the effective role that can be practiced on the national product. Currently, Sudan endures severe economic crisis …
Rogue Counrty And Potential Cooperation: The United States And Sudan And Feasible Economic Partnership, Professor Issam A.W. Mohamed
Rogue Counrty And Potential Cooperation: The United States And Sudan And Feasible Economic Partnership, Professor Issam A.W. Mohamed
Professor Issam A.W. Mohamed
The United States declared Sudan as a rogue country in 1995 due to many political considerations. It has imposed many economic and political sanctions against it since that time which represented hindrance to development and resulted in economic crises. Oil explorations started long time by Total Oil Company and resumed by Chevron that halted her activities in Sudan after the flaring of the civil war between the Northern and Southern parts of the country. That work was resumed in 1996 by Chinese companies and was crowned by success and commercial production in 1999. Although the economic situations of Sudan improved …
Who Cries For Sudan: من الذي يرثي السودان, Professor Issam A.W. Mohamed
Who Cries For Sudan: من الذي يرثي السودان, Professor Issam A.W. Mohamed
Professor Issam A.W. Mohamed
The institutional collapse in Sudan started long time ago. However, it has accelerator in the past years since Nivasha Comprehensive Peace Agreement and Darfur war.
A Two-Sided Auction For Legacy Loans, Peter Cramton
A Two-Sided Auction For Legacy Loans, Peter Cramton
Peter Cramton
On Monday, 23 March 2009, Treasury Secretary Geithner presented the Public-Private Investment Program as a key instrument to resolve the financial crisis (www.financialstability.gov). The Treasury’s description still leaves many issues unanswered. We flesh out the auction design for legacy loans. A two-sided auction is required. Both banks and private investors must compete in a transparent and competitive process.
Foreword To Ross Baldick's 'Single Clearing Price In Electricity Markets', Peter Cramton
Foreword To Ross Baldick's 'Single Clearing Price In Electricity Markets', Peter Cramton
Peter Cramton
Argues that consumers and suppliers are better off with the clearing-price auction in electricity markets.
John Langshaw Austin: Evolution, Communication And Language Daily (John Langshaw Austin: Evolución, Comunicación Y Lenguaje Cotidiano) Spanish, Fernando Estrada
John Langshaw Austin: Evolution, Communication And Language Daily (John Langshaw Austin: Evolución, Comunicación Y Lenguaje Cotidiano) Spanish, Fernando Estrada
Fernando Estrada
In this paper the main purpose is to expose the relevance of focus of John L. Austin and their opposition a conception type on the communication. Austin elaborates - in its own terms - to “linguistic phenomenology,” with which revises some places thrashed critically. Those “you force illocutionary” and those “speech acts,” they will be central concepts in this analytic company. In the perspective of Austin should not make a mistake communication with information. The work that here develop it proposes some usually notices in defense of the normative functions of the language ordinary.
Labyrinth Of Modernity, Interpretation Of The Old Regime And The Revolution Of Alexis De Tocqueville (Laberinto De La Modernidad. Interpretación Del Antiguo Régimen Y La Revolución De Alexis De Tocqueville) Spanish, Fernando Estrada, José Daniel Parra
Labyrinth Of Modernity, Interpretation Of The Old Regime And The Revolution Of Alexis De Tocqueville (Laberinto De La Modernidad. Interpretación Del Antiguo Régimen Y La Revolución De Alexis De Tocqueville) Spanish, Fernando Estrada, José Daniel Parra
Fernando Estrada
CIPE in this book presents an interpretation of the Old Regime and the Revolution of Alexis de Tocqueville.
Meditations On Machiavelli (Meditaciones En Maquiavelo) Spanish, Fernando Estrada, José Daniel Parra
Meditations On Machiavelli (Meditaciones En Maquiavelo) Spanish, Fernando Estrada, José Daniel Parra
Fernando Estrada
The presentation of Machiavelli in the field of studies of Finance, Government and International Relations is twofold. First, show that we can better understand the problems of our time in the footsteps comprehensive than classical authors have left us. A student can recognize progressive power that were taking concepts such as politics, power, status, conflict, political parties, institutions, representation and social movements, from writing original authors as Florentine thinker.
How Best To Auction Natural Resources, Peter Cramton
How Best To Auction Natural Resources, Peter Cramton
Peter Cramton
I study the design of auctions of natural resources, such as oil or mineral rights. A good auction design promotes both an efficient assignment of rights and competitive revenues for the seller. The structure of bidder preferences and the degree of competition are key factors in determining the best design. With weak competition and additive values, a simultaneous first-price sealed-bid auction may suffice. With more complex value structures, a dynamic auction with package bids, such as the clock-proxy auction, likely is needed to promote the efficiency and revenue objectives. Bidding on production shares, rather than bonuses, typically increases government take …
Auctioning The Digital Dividend, Peter Cramton
Auctioning The Digital Dividend, Peter Cramton
Peter Cramton
I begin by describing some of the problems of the simultaneous ascending auction. Then I present the package clock auction, which retains the benefits, while addressing the weaknesses, of the simultaneous ascending auction. I emphasize two essential elements of the package clock auction: the pricing rule and the activity rule. Along the way, I summarize both experimental and field results with the package clock auction.
Quarterly Gdp Estimates For Selected South Asian Economies, Safdar Khan
Quarterly Gdp Estimates For Selected South Asian Economies, Safdar Khan
Safdar Khan
No abstract provided.
Analysis Of Kiren Sales Corporation’S Survey Data, Safdar Khan
Analysis Of Kiren Sales Corporation’S Survey Data, Safdar Khan
Safdar Khan
No abstract provided.
Financial Sector Reforms And Banking Sector Soundness: A Multivariate Evaluation, Safdar Khan
Financial Sector Reforms And Banking Sector Soundness: A Multivariate Evaluation, Safdar Khan
Safdar Khan
No abstract provided.
Inflation Dynamics: A Structural Estimation, Safdar Khan
Inflation Dynamics: A Structural Estimation, Safdar Khan
Safdar Khan
No abstract provided.
A Small Open Economy Dsge Model For Pakistan, Safdar Khan
A Small Open Economy Dsge Model For Pakistan, Safdar Khan
Safdar Khan
No abstract provided.
Exchange Rate Of Japan, Singapore And Hong Kong: A Time Series Analysis, Safdar Khan
Exchange Rate Of Japan, Singapore And Hong Kong: A Time Series Analysis, Safdar Khan
Safdar Khan
No abstract provided.
Financial Reforms And Efficiency Of Banking Sector Of Pakistan: A Survey Of Empirical Literature, Safdar Khan
Financial Reforms And Efficiency Of Banking Sector Of Pakistan: A Survey Of Empirical Literature, Safdar Khan
Safdar Khan
No abstract provided.
Is Marketing Research The Cure For Norton Healthcare Kosair Children’S Hospital’S Ailments?, Safdar Khan
Is Marketing Research The Cure For Norton Healthcare Kosair Children’S Hospital’S Ailments?, Safdar Khan
Safdar Khan
No abstract provided.
Financial Stability, Trade Openness And The Structure Of Banks’ Shareholders, Claudiu T. Albulescu
Financial Stability, Trade Openness And The Structure Of Banks’ Shareholders, Claudiu T. Albulescu
Claudiu T Albulescu
The adverse effect of financial crises upon the world’s economies represented the background for the development of a wide economic literature on financial stability. The assessment of this phenomenon stands for a complex exercise, as many techniques can be used for this purpose. Such a technique is the construction of an aggregate financial stability index which allows for a comparison between financial systems stability. Based on an aggregate index and on a panel of data, we show that, for several Eastern European Countries, the financial stability is largely influenced by the trade openness and by the quality of banks’ shareholders. …