Search results for "Discount points"
showing 10 items of 48 documents
Imbalance of Power: Social Service Entrepreneurss Experiences of Entrepreneur-Municipality Relationship
2014
We investigate the complex dynamics between social service entrepreneurs and social sector managers through the lens of network metaphor, utilizing our data on social service entrepreneurs’ experiences of cooperation with municipalities. We examine what kinds of dependencies exist in the entrepreneur–municipality relationships and what kind of consequences these dependencies have on social service businesses run by entrepreneurs. Basing on the social service entrepreneurs experience, our findings suggest that while the cooperation with the municipality represents a prerequisite for success, their business represent only one alternative for the renewal of social service structures from the p…
Estimating the substitutability between private and public consumption: the case of Spain, 1960–2003
2005
This paper examines the relationship between private and public consumption using Spanish data over the period 1960–2003, using a two-good permanent-income model. We extend previous analysis addressing the question of whether this relationship is stable over time, or exhibits a structural break allowing the instability to occur at an unknown point in time. Our empirical results indicated the existence of a long-run relationship between private and public consumption. We also detect a structural change of regime shift in the cointegration regression around the time of 1973–74. Finally, the estimated intratemporal and intertemporal elasticities of substitution between the two types of expendi…
Asset Markets and Equilibrium Selection in Public Goods Games with Provision Points: An Experimental Study
2001
This paper reports the experimental results of implicit pre-play communication on the equilibrium selection in threshold public goods game experiments. The existence of an asset market in which the right to participate in a public goods game with a provision point is auctioned off among a larger group in a first stage is found to enhance significantly the contribution to the provision of the public good in a subsequent second stage. Though, contributions declined on average in the repeated public goods game when subjects were endowed with the right to play, they increased when subjects purchased the right to play. Once reached the Pareto-dominant equilibrium in the second stage, the auction…
Is ex‐ante ex‐post analysis irrelevant to Keynes's theory of employment?
2004
Ex‐ante ex‐post analysis has become a standard tool in macroeconomics. Yet Keynes dismissed it. We argue that Keynes's dismissal of ex‐ante ex‐post analysis is not an oddity but an indication of the originality of his theory of employment compared to standard macroeconomics. First, the principle of effective demand does not amount to a process that determines employment and income at the point of intersection of the traditionally defined ex ante supply and demand functions. Second, the finance motive allowed Keynes to confirm the identity of aggregate supply and demand already asserted in The General Theory. This latter conclusion is puzzling, however, since the principle of effective deman…
Welfare, Home Market Effects, and Horizontal Foreign Direct Investment
2005
We investigate the spatial distribution and organization of an imperfectly competitive industry when firms may choose to operate more than a single production unit. Focusing on a short-run setting with a fixed mass of firms, we fully characterize the spatial equilibria analytically. Comparing the equilibrium and the first-best, we show that both organizational and spatial inefficiencies may arise. In particular, when fixed costs are low enough the market outcome may well lead to overinvestment and, therefore, to too many multinationals operating from a social point of view. Furthermore, once multinationals are taken into account, the market outcome may well lead too little agglomeration.
Self-Enforcing International Environmental Agreements: Adaptation and Complementarity
2018
This paper studies the impact of adaptation on the stability of an international emission agreement. To address this issue we solve a three-stage coalition formation game where in the first stage countries decide whether or not to sign the agreement. Then, in the second stage, signatories (playing together) and non-signatories (playing individually) select their levels of emissions. Finally, in the third stage, each country decides on its level of adaptation non co-operatively. We solve this game for two models. For both, it is assumed that damages are linear with respect to emissions which guarantee that emissions are strategic complements in the second stage of the game. However, for the …
Fair Executive Compensation: Is Kalai-Smorodinsky More Just than Nash ?
2015
By considering Phelps' curve, the best disagreement point (BATNA) and the gains of negotiation, we examine what a fair distribution of executive wages should be. Beyond equality and Rawls' maximin, we focus on equality-of-gains (Nash) and on relative-equality-of-gains (Kalai-Smorodinsky). Equality-of-gains is close to maximin; executives may not accept to bargain. Relative-equality-of-gains allows executives and workers to obtain equal gains in percentage; executive compensation is not intolerably high to the price of a higher total payroll.
Energy efficiency in the European Union: What can be learned from the joint application of directional distance functions and slacks-based measures?
2014
Abstract Over the last few years concerns have increased about the energy mix in many countries. These concerns have been of greater magnitude for countries with a common energy regulation such as European Union (EU) member states. An important aspect to take into account when choosing a given energy mix is the efficiency involved in its generation. In this context, the present study analyzes the efficiency with which electricity and derived heat was produced in 25 EU member states over the last decade. This analysis considers not only the inputs and outputs involved but, more importantly, which undesirable by-products were generated during the production process, a relevant issue for EU cl…
Productive Efficiency and Territorial Externalities in Small and Medium-Sized Industrial Firms: A Dynamic Analysis of the District Effect
2012
A series of works have analysed differential behaviour in terms of productive efficiency between companies inside a hypothetical industrial district and those outside the district. This objective has been addressed using measures of technical efficiency. The results obtained provide valuable information for quantifying the district effect at a given moment in time. However, constant changes in the market and business behaviour mean that it is worthwhile studying the business district effect from a dynamic point of view. In this study, we provide this new vision through the use of Malmquist productivity indices. This methodology enables us to analyse possible differential evolutions by compa…
Forecasts on the development of hydrogen refuelling infrastructures in Portugal
2021
In Portugal, the transition to new forms of mobility has begun in recent years, but there are still obstacles to overcome. Currently, hybrid vehicles (PHEVs) are the most widespread and accepted by the community and that is probably due to range anxiety, having in fact the possibility of double charging (both through the thermal engine and the electric battery). Furthermore, it must be considered that in addition to electric vehicles, another valid alternative to mobility in the near future is the hydrogen vehicles one. These appear to be even more sustainable from the point of view of air emissions, but on the other hand the costs for the production of hydrogen are still too high. Then, th…