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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TL;DR: In this article, a review of the economic literature on copyright that focuses on its industrial aspects is presented, where the consumer's impunity provides incentives to free-ride on copyright, which rapidly increases copyright enforcement costs.
Abstract: The digitization of copyrighted goods and the dematerialization of their distribution over the Internet have caused a weakening of copyright, a key institution of the creative industries One reason is that, during the broadband roll-out, copyright enforcement costs have become superior to the estimated benefits of copyright This paper analyses the causes of this situation and suggests how a graduated response to infringers can decrease copyright enforcement costs The paper starts with a review of the economic literature on copyright that focuses on its industrial aspects It then analyses how, all along the distribution vertical chain, the consumer's impunity provides incentives to free ride on copyright, which rapidly increases copyright enforcement costs It finally depicts the graduated response mechanism and the voluntary agreement that initiated this system in France In conclusion, the increase in the cost of free-riding for the final consumer should lead to a decrease in copyright enforcement costs and to higher returns in the creative industries
23 citations
Cites background from "Intermediate microeconomics : A mod..."
...So while, on the one hand, it is considered that digital distribution may facilitate versioning and price discrimination (Varian, 2000), on the other, the circumvention of copyright appears as a major obstacle to this benefit....
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...It is all the more interesting as an object of research that it is now examined by other European countries....
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...There are network effects or externalities as soon as the utility linked to one’s consumption is influenced by the number of other consumers (Varian, 2000)....
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01 Jan 2016
TL;DR: Hoenack et al. as mentioned in this paper reviewed prominent cost theories, examined empirical research into costs, and explored specific policies that alter costs within colleges and universities, focusing on the cost disease, revenue theory of costs, positional arms races, and principal-agent problem to explain cost increases within higher education.
Abstract: Researchers face multiple challenges when studying the cost of producing higher education, which has led many to avoid the topic altogether. As a result, higher education scholarship provides little guidance to institutional leaders aiming to reduce costs in response to financial difficulties. To encourage greater research in this area, we review prominent cost theories, examine empirical research into costs, and explore specific policies that alter costs within colleges and universities. Our theoretical overview focuses on the cost disease, the revenue theory of costs, positional arms races, and the principal-agent problem to explain cost increases within higher education. Our discussion of empirical research is organized around Brinkman’s (Higher education cost functions. In: Hoenack SA, Collins EL (eds) The economics of American universities: management, operations, and fiscal environment. State University of New York Press, Albany, pp. 107–128, 1990) five major determinants of costs: size, scope, level of instruction, discipline, and revenues. When examining institutional policies, we discuss instructional activities and non-instructional activities separately. For instructional costs, we focus our attention on how faculty composition and instructional technology alter costs in higher education. The discussion of non-instructional costs examines how costs can be decreased through reducing scope, increasing economies of scale, eliminating the cost disease, and altering incentives. We conclude the chapter by describing several promising areas for future research.
23 citations
15 Mar 2009
TL;DR: In this article, a single-stage deterministic model is proposed to study the strategic interaction between GenCo and TransCo. The equilibrium is obtained using the Mixed Complementarity Problem approach.
Abstract: Due to the unbundling of power generation and transmission in the restructured power system, the generation expansion planning (GEP) and transmission expansion planning (TEP) are decided by independent entities. The coordination of GEP and TEP therefore becomes a new challenge for both generation companies (GenCos) and transmission companies (TransCo). In this paper, a single-stage deterministic model is proposed to study the strategic interaction between GenCo and TransCo. Cournot model is used to simulate the expansion behaviors for both GenCo and TransCo. The equilibrium is obtained using the Mixed Complementarity Problem approach. The proposed model is applied to a three-bus system and the IEEE 14-bus system.
23 citations
TL;DR: In this paper, a modified exponential demand function is applied to calculate consumer surplus and social surplus for 97 ferry services in Norway regulated by the state, based on empirical data concerning ferry fare, revenue data at service level and reasonable assumptions about fare point elasticity for services covering different distances.
23 citations
TL;DR: An implementation of MCDA expert preference assessments to river rehabilitation and it is concluded that the four commonly applied simplifications clearly do not reflect the opinion of river rehabilitation experts.
Abstract: River rehabilitation aims at alleviating negative effects of human impacts such as loss of biodiversity and reduction of ecosystem services. Such interventions entail difficult trade-offs between different ecological and often socio-economic objectives. Multi-Criteria Decision Analysis (MCDA) is a very suitable approach that helps assessing the current ecological state and prioritizing river rehabilitation measures in a standardized way, based on stakeholder or expert preferences. Applications of MCDA in river rehabilitation projects are often simplified, i.e. using a limited number of objectives and indicators, assuming linear value functions, aggregating individual indicator assessments additively, and/or assuming risk neutrality of experts. Here, we demonstrate an implementation of MCDA expert preference assessments to river rehabilitation and provide ample material for other applications. To test whether the above simplifications reflect common expert opinion, we carried out very detailed interviews with five river ecologists and a hydraulic engineer. We defined essential objectives and measurable quality indicators (attributes), elicited the experts´ preferences for objectives on a standardized scale (value functions) and their risk attitude, and identified suitable aggregation methods. The experts recommended an extensive objectives hierarchy including between 54 and 93 essential objectives and between 37 to 61 essential attributes. For 81% of these, they defined non-linear value functions and in 76% recommended multiplicative aggregation. The experts were risk averse or risk prone (but never risk neutral), depending on the current ecological state of the river, and the experts´ personal importance of objectives. We conclude that the four commonly applied simplifications clearly do not reflect the opinion of river rehabilitation experts. The optimal level of model complexity, however, remains highly case-study specific depending on data and resource availability, the context, and the complexity of the decision problem.
23 citations
Cites methods from "Intermediate microeconomics : A mod..."
...It is also used as a utility (or value) function for preferences ((Varian, 2010); in the economics literature, “utilities” are used as synonym for the term “values” as used here, following the decision analysis literature)....
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