Spatial price dynamics and integration in russian food markets

In general, vocational education does not lead to higher wages. However, in some countries, labor markets are characterized by employment growth and skill shortages. In these, vocational schooling has produced higher wages and returns on investment than general education. Using 1998 Egyptian household survey, the study adds evidence to the debate on relative benefits of vocational education and of general education at the secondary level. The findings suggest that providing general education to the workforce followed by on-the-job training would provide the most benefit.     

A Kuznets Curve in Environmental Efficiency: An Application on OECD Countries

The role of the environment is an important issue in policy making andthe accurate assessment of the environmental conditions is vital. Inthis paper, using nonparametric techniques, an environmental efficiencyindex is developed for each of the OECD countries. These indexes allowone both to do cross section comparisons on the state of each country'sproduction process in its treatment of undesirable outputs and also totrace each country's modification of their production processesovertime. Furthermore in this study we investigate the factorsunderlying societies' environmental concerns that eventually lead tochanges in the environmental efficiency. The results provide furtherempirical evidence for the environmental Kuznets curve hypothesis.     

Having a share in creating a peaceful world: teaching students to become tolerant

The occurrence of terrible incidents and situations all over the world where people are dying or suffering, due to political, economic, or cultural reasons have a great impact not only on students but on all human beings. It is therefore feasible for educators to take an active role to overcome or at least to diminish the negative effects of the situations mentioned above by including human rights education in their curriculum. For these reasons, the aim of this study is to identify the perceptions of students in a multicultural setting through the content topic of human rights to meet the language objectives of the course and also to raise tolerance awareness. The researchers obtained data through interviews, paragraphs, and the teacher’s diary based on observations and content analysis is used to analyse the qualitative data while triangulation research method is used to support the validity of the results. Results of the current study demonstrate that the course had various positive effects on the students and the objectives were met concerning language together by raising more awareness towards tolerance through the content topic of human rights.

     

A note on the valuation of compound options

The value of a compound option, an option on an option, has been derived by Geske (1976) using Fourier integrals. This article presents two alternative proofs to derive the value of a compound option. One proof is based on the martingale approach, which provides a simple and powerful tool for valuing contingent claims. The second proof uses the expectation of a truncated bivariate normal variable. These proofs allow for an intuitive interpretation of the three elements constituting the value of a compound option. © 2002 Wiley Periodicals, Inc. Jrl Fut Mark 22:1103–1115, 2002     

Trade‐Adjusted Concentration Ratios in the US Manufacturing Sector

This paper incorporates international trade into the four‐firm concentration ratio to get a more realistic measure of market structure in the US manufacturing sector using 1997 and 2002 NAICS data. As expected, trade‐adjusted CR₄ is significantly lower than the published CR₄. Moreover, the effect of international trade is higher in 2002 than in 1997, offsetting the increase in domestic concentration and leaving the US manufacturing sector in 2002 as competitive as it was in 1997. Furthermore, different tests are used to check the validity of the results. All of them confirm that trade‐adjusted CR₄s are significantly lower than their published counterparts.     

Examining Turkey and member states of European Union in terms of health perspectives of millennium development goals

Development is related not only to production and increase in per capita income but also to social, cultural and political improvements. The purpose of development is that individuals would live long, healthy and happy lives thanks to economic development of society. From this perspective, it is obvious that the human factor is fundamental to the concept of development. This study examines the most important element in human development—health. As health indicators, it uses the health perspectives in the United Nations millennium development goals that are “reduce child mortality”, “improve maternal health” and “combat HIV/AIDS, malaria and other diseases”. In the study, European Union (EU) member states and candidate country Turkey are compared in terms of health related goals among millennium development goals by using Multidimensional scaling and Cluster analysis. Initially, countries with similar and dissimilar health indicators are mapped in multidimensional space by multidimensional scaling analysis. Further, the same method is used to reveal similar and dissimilar health indicators among countries. Then, the findings are compared using Cluster analysis and are identified to be similar.     

Correction to: When are committees of Condorcet winners Condorcet winning committees?

Review of Economic Design -     

When are committees of Condorcet winners Condorcet winning committees?

Review of Economic Design - We consider seat-posted (or designated-seat) committee elections, where disjoint sets of candidates compete for each seat. We assume that each voter has a collection of...     

How does the economic policy uncertainty affect the relationship between financial slack and firm performance in emerging countries?

This study investigates the moderating effect of economic policy uncertainty (EPU) on the relationship between slack resources and firm performance in emerging countries. By using 47,523 firm-year observations from seven emerging market economies through the period of 2010–2018, the results show an inverse U-shaped relationship between slack resources and firm performance. The findings also demonstrate that EPU acts as a negative moderator for the slack–performance relationship. In high EPU environments, the marginal benefit from one additional unit of slack is smaller relative to low EPU environments. This study contributes to the slack resources-firm performance literature by emphasizing the role of the broader external environment as a moderator.