Book•
Intermediate microeconomics : A modern approach
01 Jan 2006-
TL;DR: The Varian approach as mentioned in this paper gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation, and is still the most modern presentation of the subject.
Abstract: This best-selling text is still the most modern presentation of the subject. The Varian approach gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation.
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Dissertation•
28 Jan 2019
TL;DR: In this article, the authors evaluate the adequacy of EU legal capital rules as a mechanism of creditor protection and argue that they are not fit for that purpose once transposed and incorporated into Member States’ national laws.
Abstract: This thesis evaluates the adequacy of EU legal capital rules as a mechanism of creditor protection. This role indisputably constitutes the fundamental purpose of the regulation of such doctrine by EU law in the last four decades, since the original Capital Directive until the current codification on Company Law. This thesis questions the effectiveness of legal capital rules for that aim once transposed and incorporated into Member States’ national laws and aims to unravel the impact that they have in practice from a law and economics perspective and by means of a comparative and functional analysis. Starting from the premise that providing creditor protection is not only desirable ex post but also ex ante, this thesis analyses legal capital rules alongside other mechanisms - both real and theoretical- and argues that prima facie EU legal capital rules are not fit for that purpose. However, an empirical and comparative study on the implementation of these rules and enforcement of creditor rights in Spain and the UK suggests that Member States’ approach has a great impact on the effectiveness and functionality of these rules in practice, and therefore the EU framework does not ultimately determine their adequacy. A comparative analysis between these two Member States demonstratesthat creditor protection is largely provided by –and achieved through- means of directors’ liabilities and insolvency rules, and the relevance of legal capital rules per seis rather limited. Nevertheless, legal capital rules have a higher impact and functionality in Spain than in the UK, namely due to Recapitalise or Liquidate rules (ROL) and legal reserves.
This thesis advocates that a system containing ROL based on adequate capitalisation and assisted by the control of solvency tests and related directors’ liabilities together would provide a more comprehensive regulatory package than the framework provided by the EU Directive.
16 citations
TL;DR: In this paper, Catignani, Rob Freathy, Patrick Porter, the anonymous reviewers, and especially Helena Mills for invaluable comments/discussion were presented. And the authors also thanks the University of Exeter for "Impact Accelerator" funding, and the UK Economic and Social Research Council [Grant Number ES/H015906/1] for its support of an intra-PhD policy secondment.
Abstract: The author thanks Sergio Catignani, Rob Freathy, Patrick Porter, the anonymous reviewers, and especially Helena Mills for invaluable comments/discussion. He also thanks the University of Exeter for “Impact Accelerator” funding, and the UK Economic and Social Research Council [Grant Number ES/H015906/1] for its support of an intra-PhD policy secondment.
16 citations
01 Jan 2015
TL;DR: Medendorp et al. as mentioned in this paper found that professional factors were the primary motivation, but nuanced by different values placed on personal factors, institutional factors, and sociocultural factors, finding that there were several significant differences among the groups.
Abstract: MIGRATION AND MOTIVATION: AN ANALYSIS OF MOTIVATION FOR RETURN TO COUNTRY OF ORIGIN AMONG FOREIGN-TRAINED CHINESE PHDS By John William Medendorp Brain drain has been a much studied phenomenon. Its fundamental dynamic is the departure of highly talented individuals from developing economies for more developed economies. The assumption is that the primary motivation for brain drain is the pursuit of higher earnings. The effects of brain drain are more contested. Some contend that the effects are entirely negative, depriving developing countries of human capital and realized as well as unrealized income. Others argue that the effects are mixed, with substitutionary effects in educational systems in developing countries caused by the departure of the highly talented and the prospect of earnings-enhancing emigration. This position, called brain gain, claims that the departure of the highly talented actually incentivizes education and therefore more than makes up for the loss of the highly talented. Others point to the beneficial effects of diaspora communities, such as remittances and foreign direct investment in country of origin due to the presence of expatriates in the diaspora. Empirical evidence is mixed, showing strong negative effects for small countries but some positive and some negative effects for larger countries. This study is focused on the effects of brain drain on higher education systems by examining the motivation for return among foreign trained PhDs. Brain drain affects the higher education sector disproportionately because it consists in its majority of the highly skilled. The effects of brain drain on higher education systems can be devastating. For that reason, the retention of the highly skilled in higher education systems becomes an important imperative for higher education systems, especially in developing countries. There has been a significant body of research devoted to the question of why the highly talented leave their countries of origin – economic research, psychological research, and sociological research. There is relatively little research, however, on the reasons why the highly skilled return to their countries of origin. There is even less research on why scholars return to academic systems in their country of origin. This study seeks to fill that gap. This is a qualitative study that uses some quantitative methods in order to model the results. The qualitative portion is based on 36 in-depth, coded interviews with returned scholars working within the higher education system in the People’s Republic of China. These 36 coded interviews rendered key insights into the reasons for return among these 36 returned scholars. I found that professional factors were the primary motivation, but nuanced by different values placed on personal factors, institutional factors, and sociological factors. I triangulated the results of this coding process by doing word count analysis, word tree analysis, and word cloud analysis. In the quantitative modeling of the data, I regressed several demographic variables against the four factors described above – professional, personal, institutional, and sociocultural – using a one-way ANOVA, to find whether there was significant variance in the influence of these four factors among different demographic groups. I found that there were several significant differences among the groups. The results of these two analyses – the qualitative and the quantitative – shows that the return decision is the result of an individualized value matrix that is used to evaluate the conditions in country of origin before making the decision to return. Depending on the weight assigned to each value, the decision to return, or not to return, is made. Using the results of the qualitative and quantitative portions of the dissertation, I model the findings in a microeconomic function describing the way in which the decision for return is made. Copyright by JOHN WILLIAM MEDENDORP 2015
16 citations
Cites background from "Intermediate microeconomics : A mod..."
...A utility function is an effort to depict the relationship between what is known as a consumption bundle and the total amount of utility that a decision-maker derives from his or her choices (Depken, 2006; Kreps, 2013; Krugman & Wells, 2006, 2013; Varian, 2010)....
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TL;DR: In this paper, the authors show that the potential benefits of increased airline competition will in general be partially absorbed by increased airport charges at unregulated airports, and in some circumstances this may even result in increases in overall charges, not reductions.
Abstract: It is well established that increased airline competition can produce benefits to passengers, and it is generally assumed that airport deregulation, as part of the same process of liberalisation, will produce similar benefits. But this paper shows that this may not be the case. The potential benefits to passengers from increased airline competition will in general be partially absorbed by increased airport charges at unregulated airports, and in some circumstances this may even result in increases in overall charges, not reductions. This problem is sometimes tackled by putting regulated price caps on aeronautical services, but if these are not extended to the complementary commercial services (such as retailing) which airports also provide then the adverse effects may still occur. Similarly, unilateral deregulation leading to increased airport competition in one country may just lead to the majority of the gains going abroad. Overall, the conclusion is that claims of big passenger gains from deregulation and competition may be exaggerated, and achieving these gains in reality may need subtle and quite far-reaching government intervention.
16 citations
01 Jan 2001
TL;DR: In this work the planning and design philosophies of Power Systems are discussed, analysing the situation over the past 50 years and the changes that new technologies which involve Distributed Generation are producing at present.
Abstract: In this work the planning and design philosophies of Power Systems are discussed, analysing the situation over the past 50 years and the changes that new technologies which involve Distributed Generation (DG) are producing at present. The influence of these changes on the Transmission conception is assessed and the validity of the natural monopoly conception discussed. In addition, the importance of adequate regulations is analysed, studying the particular case of Uruguay.
16 citations
Cites background from "Intermediate microeconomics : A mod..."
...What is more, if the regulator wishes to fix a price, in theoretical terms, the system must tend to adjust the quantity of energy demanded to the transmission system [9]....
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...we must detect what makes that the company’s average costs, in the expected production range, be decreasing [9]....
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