Search results for "Surplus"
showing 10 items of 25 documents
The significance of the concept of sin for bioethics.
2005
After a period during which the theological categories of sin and forgiveness were ignored or trivialized, presently these notions are being rediscovered. What could their impact be on bioethics, either in the narrow sense of medical ethics, or in the more encompassing sense of the ethics of the life sciences? This essay begins with describing the processes of transcending and ethitization, which gave rise to the biblical notion of sin. It portrays the theological foundation of sin in terms of a twofold refusal of proper relations to God and other humans. Through the practise of confession in the face of God (coram deo), sin is placed into a horizon of hope for forgiveness and reconciliatio…
The Role of Assumptions in Ohlson Model Performance: Lessons for Improving Equity-Value Modeling
2021
In this paper, we test whether the short-run econometric conditions for the basic assumptions of the Ohlson valuation model hold, and then we relate these results with the fulfillment of the short-run econometric conditions for this model to be effective. Better future modeling motivated us to analyze to what extent the assumptions involved in this seminal model are not good enough approximations to solve the firm valuation problem, causing poor model performance. The model is based on the well-known dividend discount model and the residual income valuation model, and it adds a linear information model, which is a time series model by nature. Therefore, we adopt the time series approach. In…
Descriptive literature review of the added value of virtual realities in vocational education and training
2020
Tarkastelemme tässä katsaus artikkelissa virtuaalitodellisuusteknologian (VR) hyödyntämistä ammattikasvatuksen kentällä viimeisen kymmenen vuoden aikana. Tavoitteenamme on selvittää, minkälaista empiiristä tutkimusta aiheesta on tehty ja minkälaista lisäarvoa VR tuottaa ammattikasvatukselle 13 tutkimusartikkelin perusteella. Tulosten perusteella tutkimus VR:n hyödyntämisestä ammattikasvatuksessa on yhtäältä lisääntynyt, mutta toisaalta empiirisiä tuloksia on vielä suhteellisen vähän. Tutkimus on toistaiseksi keskittynyt käyttökokemuksiin erilaisia VR-sovelluksia hyödynnettäessä. Havaitsemamme lisäarvo liittyy erityisesti reaalimaailman rajoitusten ylittämiseen ja erilaisten oppimisprosessie…
When is there more employment, with individual or collective wage bargaining?
2019
Abstract In a standard Diamond-Mortensen-Pissarides labour market with frictions, the authors seek to determine when there is more employment with individual wage bargaining than with collective wage bargaining, using a wage equation generated by the standard total surplus sharing rule. Using a Cobb-Douglas production function, they find that if the bargaining power of the individual is high compared to the bargaining power of the union, there is more unemployment with individual wage setting and vice versa. When the individual worker and the union have the same bargaining power, if the cost of opening a vacancy is sufficiently high, there is more unemployment with individual wage setting. …
Rail access charges and internal competition in high speed trains
2016
Abstract This paper develops an ex ante analysis of the introduction of on-track competition in High Speed Rail (HSR) lines. The distinctive elements of our analysis are the consideration of: (i) the vertical structure of the rail sector, (ii) operators that compete in prices and number of services, and (iii) access charges for the use of the rail infrastructure that are endogenous. We provide simulation results for three Spanish HSR routes. The socio-economic viability of entry is found to depend on whether infrastructure and rail operations are integrated or separated, and also on the policy rule to set rail access charges. Firstly, separation without entry is not an appropriate good poli…
Demand for and Pricing of Mobile Internet: Evidence from a Real-World Pricing Experiment
2006
Commercialization of innovations frequently stumbles. A prominent recent example are the early (i.e. pre3G)mobile phone-enabled Internet services, whose European takeup was slower than expected. To determine why, we build a structural model of demand for such services and estimate it using consumerlevel panel data from a real world pricing experiment. The experiment allows for a decomposition of the number of wireless connections into the number of needs instances where a consumer would establish a connection if the price were zero and the conditional probability of establishing a connection. We find that needs were plenty and potential consumer surplus several magnitudes higher than that a…
Institutional systems inducing R&D in Amazon- the role of an investor surplus toward stakeholder capitalization
2020
Abstract Amazon demonstrated a conspicuous increase in R&D and became the world's top R&D firm in 2017 with a skyrocketing increase in market capitalization, making it close to being the world's biggest company. Such a remarkable accomplishment can be attributed to Amazon's institutional systems, which orchestrate techno-financing systems that fuse a unique R&D transformation system and a sophisticated financing system centered on the cash conversion cycle (CCC). These institutional systems support and endorse aggressive investment in R&D that incorporates the characteristics of uncertainty, a long lead time, and successive inflows of very large amounts of funding without interruption. Whil…
A Model of Multiproduct Price Competition
1997
Abstract We provide a simple model of price competition in a multiproduct oligopoly market. The products are of general nature. We find that a pure strategy equilibrium exists and every equilibrium consumption maximizes the total social surplus. Consumers are characterized by a set function which determines their willingness to pay for every subset of products. If this function is convex, the set of equilibrium prices coincides with the core of a cooperative game generated by this set function and the firms extract total industry surplus. If it is concave, the only equilibrium price of a product is its marginal contribution to the consumer's total willingness to pay. Journal of Economic Lit…
Explotación de la tierra y tipos de mercado en la agricultura de la España contemporánea. Un comentario
1992
Se hace un repaso a los materiales presentados para el debate de la circulación del excedente en la España rural contemporánea. El debate se centró en las relaciones de propiedad y formas de tenencia de la tierra, la caracterización de los mercados agrarios y configuración de estrategias de participación en los mismos, y en las formas de gestión de las explotaciones. En las ponencias se destacó la intensa y diversa participación de los agentes sociales en los mercados de factores y los cambios en las formas de tenencia y explotación de la tierra como "estrategia" de adaptación de los propietarios a las diferentes coyunturas agrarias. The various points presented for the discussion over the …
Are decisions in a real choice experiment consistent with reservation prices elicited with BDM 'auction'? The case of French baguettes
2014
Abstract The aim of this study was to compare consumer choices observed in a real choice experiment and their reservation prices elicited with the BDM mechanism in order to assess the rationality of participant behaviors. One hundred and seventy-seven participants tested four French baguettes in each task. For the real choice experiment, participants were faced with 17 scenarios (17 × 4 baguette-price combinations). In each method, participants could select a “no purchase” option. Comparing choices and reservation prices made it possible to assess the rationality of participant behaviors. From a strict economic standpoint, 50% of observed choices were fully rational. When one baguette was a…