Comment on the Kannai-Peleg impossibility theorem for extending orders

Recent work by Y. Kannai and B. Peleg shows that two appealing axioms for extending a linear order on a set of six or more elements to a weak order on the family of non-empty subsets of that set are mutually incompatible. This comment shows that a modest restriction of their monotonicity axiom is compatible for extension with a generalization of their other axiom provided that the linear order on the basic set is a well ordering.     

A note on Shepherd's duality theorem

A simple proof of one of the main results in Shepherd's duality theory is given without reference to the Kuhn-Tucker theory. The proof involves only manipulation of definitions.     

Extension of Oi's price instability theorem

Oi's theorem that product price variability raises the average profit of a single-product perfectly competitive firm is generalized in this paper to cover the case of an n-commodity firm. Under similar conditions to those mentioned by Oi for the single-product case, commodity (factor or product) price instability raises the average profit of an n-commodity perfectly competitive firm.     

A distributed lag estimator derived from Shiller's smoothness priors: An extension

In this paper we consider a polynomial distributed model with varying coefficients and Shiller's smoothness priors. It has been shown that the Bayes estimator under this specification produces a less smooth lag pattern than the Almon and Shiller estimators for the fixed coefficients case.     

Pivotal voters: A new proof of arrow's theorem

This paper presents a new proof of Arrow's ‘General Possibility Theorem’, focusing on the way how ‘social’ preferences change in response to changes in the preferences of individuals, under given social welfare functions.     

Equicorrelated substitutes and Nasse's extension of the linear expenditure system

Nasse's (1970) model can be used to provide an easily implementable approximation of the equicorrelated-substitutes model. The preference independence transformation based on this approximation is also considered.     

A simple proof of Blackwell's “comparison of experiments” theorem

This note presents a simple proof of Blackwell's well-known theorem on the equivalence of two orderings of experiments, one based on the statistical concept of sufficiency, and the other on the economic concept of the value to the decision makers.     

共创价值对顾客忠诚和员工工作绩效的影响

利用对420名消费者的问卷调查数据,运用结构方程模型实证分析了共创价值是如何影响顾客满意和员工工作满意度、进而如何作用于顾客忠诚和员工工作绩效水平的。结果表明:共创价值与顾客满意显著相关,并对顾客满意具有促进作用;顾客满意对顾客忠诚具有促进作用;共创价值与员工工作满意度显著相关,并对员工工作满意度具有促进作用;员工工作满意度对其工作绩效具有促进作用;顾客满意与员工工作绩效显著相关,并对员工工作绩效具有促进作用;员工工作满意度与顾客忠诚显著相关,并对顾客忠诚具有促进作用。     

Nature's technology

We are faced with a deteriorating land system across the vast low-rainfall areas of the world. This is creating serious social and environmental disruption. The Sahelian zone is a case in point. The loss of both indigenous animals and now the land resource itself is little short of catastrophic.There is, however, a system in these parts of the world that has evolved and stabilized over the millennia. This is the natural system of grassland and “wild” animals living in harmony and forming a healthy and rich ecosystem. Man has substituted domestic animals for this indigenous fauna and is now facing the disruption of the entire system as a result.This paper looks at our “modern” ranching systems and compares them with the natural entity. The implementation of the new land use is now underway, using locally adapted grazing animals within their environment. Insights that have come from this work have led to the development of a new philosophy and thinking about our land-use systems in general.In a world faced with the horrifying specter of food shortages, loss of land resources, and energy crises, “nature's technology” points the way to a new future. If we react fast enough to save our planet and ourselves, the natural systems will be reinstated and become the land use of the future, particularly through the drier lands of the world, which today are in such peril.     

A uniqueness result for extending orders; with application to collective choice as inconsistency resolution

Two axioms about extending a weak ordering of a set Ω to its power set 2^Ω uniquely determine a lexicographic weak ordering of 2^Ω. The solution is applied to collective choice to resolve majority cycle inconsistencies, and also contrasted with Condorcet.     

Government debt and private leverage: An extension of the Miller theorem

This paper shows how government financing decisions can influence the corporate decision to use debt or equity finance. In particular, it is shown that an increase in the stock of taxable government debt reduces the equilibrium quantity of corporate debt, and that an increase in the stock of tax-free government debt reduces the equilibrium quantity of corporate equity. The effects of inflation rate and tax rate changes are also considered.     

技术溢出、企业研发路径与政府政策引导

针对技术溢出程度的不确定,建立了三阶段研发博弈模型,研究了企业最优研发路径的选择问题。在此基础上,分析了企业利润最大化与社会福利最大化的目标一致性以及政府的财税政策在纠正两目标差距上的有效性。结果表明:当技术溢出较小时,企业选择的最优研发路径能使两者目标一致;当技术溢出较大时,企业的最优研发路径会使两者目标不一致,此时政府需要对企业进行引导以促进协同创新,其中差异化补贴政策能有效纠正目标差距,政府减免企业所得税能有效缩小目标差距。     

Arrow’s theorem as a corollary

Arrow’s Impossibility Theorem is derived from a general result on social aggregation in ‘property spaces’ (S3 convex structures) obtained in prior work. In the derivation, the specific structure of Arrowian aggregation as an aggregation of weak orders plays a purely combinatorial role.     

A variable-production generalisation of Lerner's theorem

A government wishes to choose an optimal set of wage rates, but it is uncertain of individual characteristics. All it knows for certain is that each utility function is strictly quasi-concave and that the production function is linear. We assume that it can determine probability distributions, for each individual. of possible utility functions and ability levels. If each of these probability distributions is the same for every individual, expected social welfare is maximised by equalisation of wage rates. But since actual utility functions, and therefore labour supplies, will generally be unequal, incomes will then be unequal.