A simple ordered data estimator for inverse density weighted expectations

We consider estimation of means of functions that are scaled by an unknown density, or equivalently, integrals of conditional expectations. The “ordered data” estimator we provide is root n$n$ consistent, asymptotically normal, and is numerically extremely simple, involving little more than ordering the data and summing the results. No sample-size-dependent smoothing is required. A similarly simple estimator is provided for the limiting variance. The proofs include new limiting distribution results for functions of nearest-neighbor spacings. Potential applications include endogenous binary choice, willingness to pay, selection, and treatment models.     

Optimal Taxation of Bequests in a Model with Initial Wealth*

We formulate an optimal‐taxation model where parents leave bequests to their descendants for altruistic reasons. In contrast to the standard model, individuals differ not only in earning abilities, but also in initial (inherited) wealth. In this model, a redistributive motive for an inheritance tax – which is equivalent to a uniform tax on all expenditures – arises, given that initial wealth increases with earning abilities. The introduction of the inheritance tax either increases intertemporal social welfare or has an ambiguous effect, depending on whether the external effect related to altruism is accounted for in the social objective.     

Infinitely repeated games with public monitoring and monetary transfers

This paper studies infinitely repeated games with imperfect public monitoring and the possibility of monetary transfers. It is shown that all public perfect equilibrium payoffs can be implemented with a simple class of stationary equilibria that use stick-and-carrot punishments. A fast algorithm is developed that exactly computes the set of pure strategies equilibrium payoffs for all discount factors.     

The evolving role of trade associations in negotiated environmental agreements: the case of United Kingdom Climate Change Agreements

Voluntary and negotiated agreements are becoming increasingly popular instruments for regulating industry's environmental performance. Although their main purpose is to modify the behaviour of individual firms, the coordinating role of trade (or industry) associations is often critical to their environmental effectiveness. Thus, a clear and mutually agreed understanding of associations' role in the agreement process is essential. This paper examines the nature of trade associations' input into the negotiation and implementation of environmental agreements, using the case study of United Kingdom Climate Change Agreements. Results show associations serving a range of coordinating roles, including the aggregation of members' viewpoints, negotiation of agreements, provision of regulatory and technical knowledge and collation of performance data. We conclude that further involvement of trade associations in negotiated and voluntary agreements can bring appreciable, though not uncontested, benefits in terms of environmental effectiveness. Copyright © 2005 John Wiley & Sons, Ltd and ERP Environment.     

艺术之殇

我曾在许多领域工作过:做过电影导演、戏剧和歌剧导演,作为制片人、作为一个独立行动的艺人,作为一个人,包括作为一个病人和一位基督信徒,更不用说作为一个政治家和表演者;我一直对那些近乎痴迷的进行艺术创作的艺术家有着极大的兴趣,他们是迫于生计或为了讨生活而参与艺术,而不是从其他角度来看待艺术。我的工作和生活就是一种典型的精神分裂。如果我只沉浸在一件事中,我就会感到厌倦,我的大脑将停止运     

Können Unternehmen durch Cluster Wettbewerbsvorteile realisieren? Eine ressourcenbasierte Analyse des Uhrenclusters Glashütte

Single firms as parts of clusters are in the focus of this paper. They are analysed with regard to their contribution to the generation of firm- and cluster-specific competitive advantages. The resource-based view is extended to ensure applicability in cluster research. This approach serves as the basis for the analysis of a case study undertaken in 2008 in the watch cluster in Glashütte, Germany.     

The ‘West’ against the ‘Rest’: Geopolitics after the end of the cold war

With the end of the Cold War, it seemed that we had reached the ‘end of geopolitics’. Since the mid‐1990s, however, the term ‘geopolitics’ has experienced a revival, and even regional groupings which have so far abstained from any kind of power politics, such as the European Union, have started to claim geopolitical interests for themselves. But it is not clear what constitutes this kind of power politics in the 1990s and what drives ‘the West’ to pursue geopolitics, directed against what Huntington has labelled so plainly and provocatively the ‘Rest’. The article addresses this question by analysing Western capital's need for access to markets in the South and the EU's and US’ growing dependence on oil imports. The article will argue that a Western geostrategy based on Huntington's civilisational model would be counterproductive in the long run, manoeuvring the Western states into a situation where these geopolitical goals would have to be enforced by military means instead of being pursued through a strategy of political and economic support.