Ascending price Vickrey auctions for general valuations

Ascending price auctions involving a single price path and buyers paying their final bid price cannot achieve the Vickrey-Clarke-Groves (VCG) outcome in the combinatorial auctions setting. Using a notion called universal competitive equilibrium prices, shown to be necessary and sufficient to achieve the VCG outcome using ascending price auctions, we define a class of ascending price auctions in which buyers bid on a single price path. Truthful bidding by buyers is an ex post Nash equilibrium in such auctions. By giving discounts to buyers from the final price, the VCG outcome is achieved for general valuations.     

Global Capitalism, Deflation and Agrarian Crisis in Developing Countries

Periods of economic crisis for agriculture in developing countries have been marked in history by declining incomes and worsening employment possibilities, resulting in adverse outcomes of loss of land rights against debt and declining nutrition levels for the poorer majority of populations. This paper argues that a similar conjuncture of agrarian crisis has become visible in recent years, as had been seen in the prelude to the inter–War Depression, owing to the income–deflation inherent in current macroeconomic policies driven by the dominant global neo–liberal agenda. The argument is illustrated primarily with reference to the experience of India under economic reforms. The question of land rights and gender equity are strongly affected by the dominant policy regime; hence the paper, while not addressing these questions directly, seeks to contextualize them through its critique of the dominant neo–liberal policy regime.     

Product development,imitation and economic growth: A note

Abstract

A dynamic North – South general equilibrium model of international product cycle is presented in this paper. The qualitative effects of strengthening intellectual property rights (IPR) on the balanced growth rate of the world economy is studied in two alternative cases: (i) imitation is direct from North to South; (ii) multinationalization is the channel of product transfer.     

A longitudinal micro-foundational investigation into ambidextrous practices in an international alliance context–A case of a biopharma EMNE

This paper explores the development of an ambidextrous context in a rapidly growing emerging market multinational (EMNE), thus unbundling cultural and structural complexities. We use the micro-foundational lens of ambidexterity to explore and identify different processes, structures and mechanisms that underpin the development of ambidextrous practices in the EMNE. We adopt a longitudinal case study design to trace the evolution of the EMNE, which during the initial phases of its existence focused on supplying industrial enzymes and refined its technical base. In subsequent years, it exploited its technical base to emerge as a full-fledged biopharmaceutical EMNE and adopted strategic partnerships with international companies to explore new knowledge. Our novel and rich research context also provides us with insights on how this EMNE exploited its technological knowledge, whilst utilizing strategic alliances to simultaneously engage in exploratory activities. Through the micro-foundational lens of ambidexterity, we uncover the critical role played by its leadership in addressing paradoxical tensions for simultaneously managing exploitation and exploration in an international strategic alliance context.     

Separability and aggregation of equivalence relations

We provide axiomatic characterizations of two natural families of rules for aggregating equivalence relations: the family of join aggregators and the family of meet aggregators. The central conditions in these characterizations are two separability axioms. Disjunctive separability, neutrality, and unanimity characterize the family of join aggregators. On the other hand, conjunctive separability and unanimity characterize the family of meet aggregators. We show another characterization of the family of meet aggregators using conjunctive separability and two Pareto axioms, Pareto⁺ and Pareto^?. If we drop Pareto^?, then conjunctive separability and Pareto⁺ characterize the family of meet aggregators along with a trivial aggregator.     

I (do not) consume; therefore,I am: Investigating materialism and voluntary simplicity through a moderated mediation model

With the burgeoning of consumer culture and materialism on a global scale, a counter-culture movement, namely, voluntary simplicity, is slowly gaining currency. Extant research reveals a degree of disparateness in the relationship between materialism and voluntary simplicity. Drawing on the value-basis theory and anti-consumption research, the current study attempts at an unorthodox study of the fledgling culture of anti-consumption in urban India. The paper empirically examines the relationship between materialism and voluntary simplicity in India. This research, through an experimental study followed by a sample survey, conducted among urban Indian consumers, examines how satisfaction with life, self-efficacy, and individualism interact with materialistic values to eventually influence voluntary simplicity attitudes. In Study 1 (N = 74 working professionals), we experimentally triggered materialistic aspirations and evaluated their effects on voluntary simplicity in comparison to a control condition. In Study 2 (N = 315), individuals self-rated their materialistic values, satisfaction with life, self-efficacy, cultural orientation, and voluntary simplicity attitude. Our study, contrary to the suggestions in the existing literature, demonstrates that materialists espouse voluntary simplicity attitudes when environmental degradation around them directly impacts their health, wealth, and well-being. In addition to the positive direct effect, satisfaction with life and self-efficacy serially mediate the relationship between materialism and voluntary simplicity, providing a welcome divergence from dark-sided conceptualizations of materialism. Our results help global marketers, and public policymakers better understand the interaction between materialistic values and sustainable consumption attitudes, in the developing country perspective.     

On generalized progressive hybrid censoring in presence of competing risks

The progressive Type-II hybrid censoring scheme introduced by Kundu and Joarder (Comput Stat Data Anal 50:2509–2528, 2006), has received some attention in the last few years. One major drawback of this censoring scheme is that very few observations (even no observation at all) may be observed at the end of the experiment. To overcome this problem, Cho et al. (Stat Methodol 23:18–34, 2015) recently introduced generalized progressive censoring which ensures to get a pre specified number of failures. In this paper we analyze generalized progressive censored data in presence of competing risks. For brevity we have considered only two competing causes of failures, and it is assumed that the lifetime of the competing causes follow one parameter exponential distributions with different scale parameters. We obtain the maximum likelihood estimators of the unknown parameters and also provide their exact distributions. Based on the exact distributions of the maximum likelihood estimators exact confidence intervals can be obtained. Asymptotic and bootstrap confidence intervals are also provided for comparison purposes. We further consider the Bayesian analysis of the unknown parameters under a very flexible beta–gamma prior. We provide the Bayes estimates and the associated credible intervals of the unknown parameters based on the above priors. We present extensive simulation results to see the effectiveness of the proposed method and finally one real data set is analyzed for illustrative purpose.     

Group size paradox and public goods

In an economy with voluntarily provided public goods and private product varieties, and a general class of CES preferences, it is shown that aggregate public good contribution follows an inverted-U pattern with respect to group size when private and public goods are substitutable in preferences. With complementarity, however, aggregate provision grows monotonically with group size.     

Can psychological capital reduce stress and job insecurity? An experimental examination with indian evidence

Increasingly, work stress and job insecurity have become pervasive issues in today’s dynamic workplace. Extant literature suggests that individual psychological resources play a significant role in job insecurity and stress. A review of the literature on psychological capital (PsyCap) suggests that there is a dearth of experimental investigation on the effect of PsyCap interventions (PCI) on stress and job insecurity. The primary purpose of this study is to experimentally examine whether an increase in PsyCap through PCI results in a significant decrease in stress and job insecurity. This experimental investigation was conducted on a sample of 234 adults employed in the telecom sector. This study used a two-group (treatment group and placebo control group) pre-test and post-test design. Subjects were randomly assigned either to the treatment group (N?=?124) or the placebo control group (N?=?110). Findings suggest that those subjects who were given PCI (treatment group) developed their PsyCap and there was a significant reduction in stress and job insecurity. On the contrary, participants of the placebo control group did not report any significant change in stress and job insecurity. Theoretical and managerial implications are discussed.