Search results for " Elasticity"
showing 10 items of 147 documents
The relationship between environmental values and income in a transition economy: surface water quality in Latvia
2002
A contingent valuation study measured citizen willingness to pay (WTP) for an improvement in surface water quality in Latvia. The average respondent was willing to pay 0.7 per cent of household income for the environmental improvement, but that amount was much less than needed to finance the required investments in treatment facilities. While the income elasticity of WTP for the average resident was low (0.56), it increases as income increases, reaching 0.9 at an income level double the current average. As real incomes increase in Latvia, the demand for environmental quality by citizens can be expected to increase substantially.
Demand for Primary Schooling in Rural Mali : Should User Fees Be Increased ?
1996
International audience; This paper presents estimates of the price elasticity of demand for primary schooling, using household and school survey data from rural Mali. The elasticity of enrolment with respect to the local school fee is compared with the effects on enrolment of distance to the school and various indicators of school quality, including books per classroom and the number of grades offered. Fees have a negative effect; however, certain improvements in school quality could easily offset in terms of enrolment any negative effect of higher fees to finance such improvements. For example, the astonishingly low average of two books per classroom could be doubled for a 10 per cent incr…
Scale economies and input price elasticities in microfinance institutions
2013
Author's version of an article in the journal: Journal of Banking & Finance. Also available from the publisher at: http://dx.doi.org/10.1016/j.jbankfin.2012.08.004 We evaluate the efficiency of microfinance institutions (MFIs) using a structural approach which also captures these institutions' outreach and sustainability objectives. We estimate economies of scale and input price elasticities for lending-only and deposit-mobilizing MFIs using a large sample of high-quality panel data. The results confirm conjectures that improvements in efficiency can come from the growth or consolidations of MFIs, as we find substantial increasing returns to scale for all but profitability-focused deposit-m…
THE STOCHASTIC VOLATILITY MODEL OF BARNDORFF-NIELSEN AND SHEPHARD IN COMMODITY MARKETS
2010
We consider the non-Gaussian stochastic volatility model of Barndorff-Nielsen and Shephard for the exponential mean-reversion model of Schwartz proposed for commodity spot prices. We analyze the properties of the stochastic dynamics, and show in particular that the log-spot prices possess a stationary distribution defined as a normal variance-mixture model. Furthermore, the stochastic volatility model allows for explicit forward prices, which may produce a hump structure inherited from the mean-reversion of the stochastic volatility. Although the spot price dynamics has continuous paths, the forward prices will have a jump dynamics, where jumps occur according to changes in the volatility p…
Trade Associations: Why Not Cartels?
2021
First published: 30 September 2020 The relevance of special interests lobbying in modern democracies can hardly be questioned. But if large trade associations can overcome the free riding problem and form effective lobbies, why do they not also threaten market competition by forming equally effective cartels? We argue that the key to understanding the difference lies in supply elasticity. The group discipline which works in the case of lobbying can be effective in sustaining a cartel only if increasing output is sufficiently costly ‐ otherwise the incentive to deviate is too great. The theory helps organizing a number of stylized facts within a common framework. This article has been accept…
How does fiscal policy react to wealth composition and asset prices?
2012
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Reliable measures of plastic deformations for elastic plastic structures in shakedown conditions
2020
A new formulation for evaluating reliable measures of the plastic deformations occurring in the transient phase of a structure in shakedown conditions is proposed. The structure is thought as constituted by elastic perfectly plastic material and subjected to a combination of fixed and cyclic loads. The proposed formulation consists in the search for the optimal plastic strain field that minimize a suitable objective function defining a strain energy measure related to the plastic strains at the shakedown limit. The typical self-stress field can be obtained as the elastic structural response to an assigned plastic strain field respecting appropriate ductility limits for the material. Without…
Isotropic p-harmonic systems in 2D Jacobian estimates and univalent solutions
2016
The core result of this paper is an inequality (rather tricky) for the Jacobian determinant of solutions of nonlinear elliptic systems in the plane. The model case is the isotropic (rotationally invariant) p-harmonic system ...
Concrete softening effects on the axial capacity of RC jacketed circular columns
2016
Abstract Among the different strengthening techniques to repair RC structures, reinforced concrete (RC) jacketing is one of the most commonly adopted, especially for columns. Its wide application is due to its easy application and relatively reduced cost with respect to other methods (e.g. FRP wrapping, Shape Memory Alloy active confinement). The target of RC jacketing is to increase axial, flexural capacity and ductility of weak existing members by means of two main effects: confinement action provided by the jacket and composite action between external jacket and inner concrete. Different theoretical studies have been carried out to calculate the strength enhancement due to confinement ac…
Mechanical behaviour of Palermo and Marsala calcarenites (Sicily), Italy
2016
Abstract This paper aims at finding a framework for the Sicilian Calcarenites relating the strength and the deformability of these materials to their geological and structural features: fabric, bonding, initial and actual specific volume. In particular, this study sets out to separate the effects of fabric and of bonding on the mechanical response. The investigated lithotypes, Calcarenites from Palermo and Marsala, outcropping in many areas of southwestern Sicily, are characterized by sudden changes in their deformability, strength and permeability characteristics. The geotechnical identification, by means of computerized axial tomography and thin section petrographic analysis suggested a s…