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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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03 Apr 2014
TL;DR: In this article, the authors analyze the determinants of a firm's use of financial participation schemes and find that the contextual nature of incentives comprised of political economic institutions of the country and the firm's characteristics such as capital intensity, age and size of the firm, influence of trade union on the employment relations and presence of Joint consultative committees or work councils.
Abstract: In this study I analyze the determinants of a firm’s use of financial participation schemes. I take an institutional approach toward studying this phenomenon. There are many known, through past research, micro determinants of financial participation and what I wish to find through my study is that whether it is the contextual nature of incentives comprised of political economic institutions of the country and the firm’s characteristics which determines the use of financial participation schemes by a firm. I build upon five models of capitalism as the different set of contexts given to firms operating in countries falling under one of those models. The individual characteristics that are used as explanatory variables are capital intensity, age and size of the firm, Influence of trade union on the employment relations and presence of Joint consultative committees or work councils. The dataset used for this study is a survey done over 4253 companies by CRANET network. Financial participation schemes are divided into two groups first of which consists of stock options, employee share schemes, individual bonus and performance based pay and second of profit sharing and group based bonus. Based on the analysis in this study I found that the hypothesized order of expected value of that relevant financial participation schemes are used by a company, given the type of capitalism under which it operates, is not supported. A different pattern does emerge however and hence makes it desirable to study this phenomenon more analytically before doing further empirical research. Further, of the firms characteristics tested Capital Intensity and size are found to be positively related to scale 1 and trade union’s effect is found to be negatively related to scale 1 while the stakeholder’s based governance model positively related to scale 1.
3 citations
Cites background from "Intermediate microeconomics : A mod..."
...(Traxler et al. 2008) iii) Financial Markets: The financial markets can be defined as the market for exchange of funds and can be further classified into capital markets, which facilitates exchange of stocks and bonds or money markets, which facilitate exchange of debt or financing (Varian 2010)....
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...…on firm’s financial participation strategies in detail below. i) Product Markets: Markets where firms compete to sell their products or services are product markets and they can be competitive, monopoly or oligopolistic markets based of density of firms competing with each other (Varian 2010)....
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...exchange of stocks and bonds or money markets, which facilitate exchange of debt or financing (Varian 2010)....
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...i) Product Markets: Markets where firms compete to sell their products or services are product markets and they can be competitive, monopoly or oligopolistic markets based of density of firms competing with each other (Varian 2010)....
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12 Oct 2016
TL;DR: The primary objective for this thesis is to enable the design of IR systems that support exploratory and lookup searches equally well by modeling information search as a rational adaptation of interactions, which aids in clear conceptualization of exploratoryand lookup searches.
Abstract: We use information retrieval (IR) systems to meet a broad range of information needs, from simple ones involving day-to-day decisions to complex and imprecise information needs that cannot be easily formulated as a question. In consideration of these diverse goals, search activities are commonly divided into two broad categories: lookup and exploratory. Lookup searches begin with precise search goals and end soon after reaching of the target, while exploratory searches center on learning or investigation activities with imprecise search goals. Although exploration is a prominent life activity, it is naturally challenging for users because they lack domain knowledge; at the same time, information needs are broad, complex, and subject to constant change. It is also rather difficult for IR systems to offer support for exploratory searches, not least because of the complex information needs and dynamic nature of the user. It is hard also to conceptualize exploration distinctly. In consequence, most of the popular IR systems are targeted at lookup searches only. There is a clear need for better IR systems that support a wide range of search activities. The primary objective for this thesis is to enable the design of IR systems that support exploratory and lookup searches equally well. I approached this problem by modeling information search as a rational adaptation of interactions, which aids in clear conceptualization of exploratory and lookup searches. In work building on an existing framework for examination of adaptive interaction, it is assumed that three main factors influence how we interact with search systems: the ecological structure of the environ-
3 citations
Posted Content•
3 citations
TL;DR: In this article, three approaches were applied by considering the "taste of life" as a function of state authorities' services, shadow activity and communal budget, and the results of expert surveys in 50 communities in the Ukrainian environment were made an attempt to identify the degree of state's regularities in society and test the constructed models.
Abstract: The issue of measuring the “taste of life” is one of the main tasks in the proces of management decentralization in the state. The term “taste of life” is considered to be the degree of an individual’s satisfaction from living, functioning and carrying out his own activity in society in accordance with economic rules and orders. To solve this problem, three approaches were applied by considering the “taste of life” as a function of state authorities’ services, shadow activity and communal budget. Based on mathematical modelling and the results of expert surveys in 50 communities in the Ukrainian environment, authors made an attempt to identify the degree of state’s regularities in society and to test the constructed models. According to the results, a higher “taste” on the basis of state services caused a decrease in the likelihood of a person returning after the possibility of working and living abroad. The higher “taste” caused the smaller sensitivity to institutes of the shadow economy. At the same time, the “taste” on the basis of shadow services correlates negatively with sensitivity to the state’s official engagement in business and penalties for informal activity. So, the higher this segment, the smaller the sensitivity. The behavior of those who consider communal services and the work of the community as a basic variable is quite different. The “taste” on the basis of community services cannot explain the sensitivity to the shadow institutes and dynamics of emigration. Consequently, decentralization is a way of overcoming corruption.
3 citations
TL;DR: The failure of the Telecommunications Act 1996 was considered as a milestone in the history of US telecommunication sector, as it aimed at breaking monopoly in local telecommunication market and creating competition.
Abstract: Telecommunication Act 1996 was considered as a milestone in the history of US telecommunication sector, as it aimed at breaking monopoly in local telecommunication market and creating competition. During last 10 years, the pace of competition in local telephony market has been very slow. Baby Bells still hold a strong dominance and a near monop-oly position. They have even spread their monopoly to long distance market by mergers and acquisitions. This shows the failure of the Act. Local monopoly breaking policy, vertical reintegration, universal service and UNE pricing are the major reasons of this failure. Local loop is a natural monopoly and further investment by multiple companies is not efficient. Idea of universal service should be dropped.
3 citations
Cites background from "Intermediate microeconomics : A mod..."
...The local telephone industry was thought to be naturally prone to monopoly as a consequence of massive scale and scope economies in provision of services over wire line networks [1-3]....
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