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This paper develops a theory to illustrate the relationship between the profitability of firms producing along the value chain and the sequential production stages. Using a bilateral monopoly framewor...
Analysing economic efficiency of farm production always faces a problem of insufficient information. This is particularly true when the analysis is performed on the reference farm where estimates are ...
The world meat market demands competitiveness, and optimal livestock replacement decisions can help to achieve this goal. In the article, there is introduced a novel discrete stochastic dynamic progra...
The article examines mechanism of bid price determination in public procurement by individual tenderers. A game theory approach is used to analyse this process. Firstly, a simple model with two firms ...
A non-parametric Data Envelopment Analysis (DEA) technique was applied to investigate the degree of efficiency and efficiency change of prefecture-level cities in the North-East China from 2000 to 201...
The upper-income, advanced industrial countries of the world today all have market economies with open competition, competitive multi-party democratic political systems, and a secure government mon...
We estimate a model that summarizes the yield curve using latent factors (specifically, level,slope, and curvature) and also includes observable macroeconomic variables (specifically, real activity,in...
The relation between IMF conditionality and country ownership of assistance programs is considered from a political economy perspective, focusing on the question of why conditionality is needed if it ...
Much attention has been devoted in the literature to the transactions demand for money and the asset demand for money. The precautionary motive for holding cash balances, however, is seldom analyz...
We study experimental two-sided markets in which the information structure is endogenous.When submitting an offer, a trader decides which other traders will be informed about the offer. Thissetup allo...
Capital Cash Flows: A Simple Approach to Valuing Risky Cash Flows.
Capital and Value of Risk Transfer: Presented at Actuarial Approach for Financial Risks (AFIR) Colloquium,Boston,MA,November.
Professor Michael E. Porter: Initiative for a Competitive Inner City.

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