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•
01 Jan 2016
TL;DR: The framework’s underpinning theoretical model is defined by the formulation of mathematical constructs of a trust nomenclature and through rigorous application of non-cooperative game theoretical techniques to establish stability and (Nash) equilibrium, with the results showing robustness under scale, partitioning and with changing environmental influence, all conditions characteristic of Emerging Systems.
Abstract: Trust frameworks are of importance for increasingly mobile and dynamic enterprise ad-hoc systems to protect privacy, secure information and establish credibility. Trust enables humans and systems to accept risks and manage uncertainty.
While various frameworks have been proposed, a common limitation is that they apply to closed systems where a central trust authority, a known inventory and the fair distribution of resources can be assumed. Open systems such as the Internet, cannot be considered under these assumptions. Enterprises increasingly consist of independently highly reprogrammable nodes and elements that are non-cooperative in nature.
The original contribution of this work is that it identifies the need for and defines Emerging Systems as open, mobile ad-hoc systems consisting of highly-reprogrammable nodes within the enterprise, and shows that inherent limitations of these systems can be overcome by supporting proof that a non-cooperative game theoretical model is a suitable foundation for a Non-cooperative Programmable Open System Trust Framework (NPOST) for this new class of system.
The framework’s underpinning theoretical model is defined by the formulation of mathematical constructs of a trust nomenclature and through rigorous application of non-cooperative game theoretical techniques to establish stability and (Nash) equilibrium.
The framework is experimentally examined, with the results showing robustness under scale (small and large), partitioning (volatile and ephemeral topology) and with changing environmental influence, all conditions characteristic of Emerging Systems.
20 citations
Cites background from "Intermediate microeconomics : A mod..."
...Cournot’s model simplified the producer entities by the fundamental non-conjecture that the producers are economically rational and act strategically, seeking to maximise profit given their competitors’ decisions and the assumptions that (Varian 2010): 1....
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...Cournot’s model simplified the producer entities by the fundamental non-conjecture that the producers are economically rational and act strategically, seeking to maximise profit given their competitors’ decisions and the assumptions that (Varian 2010):...
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01 Dec 2010
TL;DR: In this article, a distributed power control algorithm for infrastructureless ad hoc wireless networks is proposed, where each link distributively and asynchronously updates its transmission power with limited message passing among links.
Abstract: We consider a distributed power control algorithm for infrastructureless ad hoc wireless networks, where each link distributively and asynchronously updates its transmission power with limited message passing among links. This algorithm provably converges to the set of global optimal solutions despite the non-convexity of the power control problem. In contrast with existing distributed power control algorithms, our algorithm makes no stringent assumptions on the system utility functions. In particular, the utility function is allowed to be concave or non-concave, differentiable or non-differentiable, continuous or discontinuous, and monotonic or non-monotonic.
20 citations
TL;DR: A comparison of results of assessment of technical efficiency of innovativeness for 2005 and 2010 is presented in this paper, where the intent is to show how capable is the Innovation Union Scoreboard (IUS) in the explanation of innovation process in transforming innovation inputs into results or innovation outputs.
20 citations
Journal Article•
TL;DR: In this article, an error-correction system model for house prices and inflation is proposed for forecasting purposes. But the model assumes that houses provide a good inflation shelter, but in the long run the real return to is equal to the explicit or implicit rental income derived from the owning of houses.
Abstract: Given the emphasis on price stability in monetary policy, the concern caused by recent rapid increases in housing prices are understandable.It is suspected that such rises may provide early indication of mounting inflationary pressure.The purpose of this paper is to formulate and estimate an error-correction system model for housing prices and inflation for forecasting purposes.By using the estimated cointegrating vector, we also get an estimate of the equilibrium level for house prices that might be helpful in analysing the current situation in the housing market and the stance for monetary policy. Housing prices typically exhibit large cycles, and they are thus predictable to some extent.Volatility is caused by the fact that the supply of houses does not react perfectly to changes in housing demand.However, housing prices and inflation tend to have similar growth rates over the long run.In other words, houses provide a good inflation shelter, but in the long run, the real return to is equal to the explicit or implicit rental income derived from the owning of houses.The estimation results also show that the changes in the general price level are transmitted into house prices rather quickly, but inflation is surprisingly insensitive to housing prices.The equilibrium relationship between housing prices and consumer prices is also affected in the short run by variables such as interest rates, wages and the unemployment rate. Keywords: House prices, inflation, cointegration
20 citations
Cites background from "Intermediate microeconomics : A mod..."
...It should be remembered that all assets have two components of return, namely capital income and appreciation (price changes) ie in case of housing (Varian, 1987): Housing yield = Rental capital income (explicit or implicit rent) + appreciation, which is analogous to stock market yield composed of…...
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...Capital gains on non-owner-occupied houses are taxed effectively with lower rate than other capital income, since houses are held on average almost 10 years, which postpones the tax payment (Varian, 1987 p. 204)....
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...It should be remembered that all assets have two components of return, namely capital income and appreciation (price changes) ie in case of housing (Varian, 1987):...
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Abstract: Purpose – Given that coupons are one of the most popular promotional tools, this paper aims to investigate how intention to redeem the coupon is affected by the face value of the coupon for most common grocery items.Design/methodology/approach – Data were collected using a self‐administered questionnaire from a convenience sample of students and non‐students (total sample size 425) at a south‐western metropolitan university campus town.Findings – The results suggest that, for low face values of coupon, intention to redeem is positively associated with face value, whereas, for the higher face values of the coupon, the intention remains more or less unchanged. The correlation between intention to redeem the coupon and the perceived sticker price of the product is positive at the lower levels of coupon face value, but becomes negative for higher face values.Research limitations/implications – One major limitation is the narrow choice of grocery products. Moreover, this study explored intention to redeem a co...
20 citations