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Robert C. Dolan 《Review of Industrial Organization》1984,1(3):160-188
The study examines price behavior in tight oligopoly. The investigation proceeds from the premise that tacit cooperation is the rational response of firms comprising tight oligopoly. The study’s thesis is that cooperative conduct in tight oligopoly will reflect one of two general pricing patterns: (1) shared monopoly pricing, or (2) mark-up pricing. A unique empirical test of this dual price hypotheses is developed. The test focuses on the nature of price responses to cost and demand changes as reflected in a price equation that is estimated for each of fifty four-digit SIC industries. The study’s results indicate infrequent, but still notable, instances of shared monopoly pricing. More common is evidence of mark-up pricing, a general category within which demand proved to be significant in roughly half of the industries examined. Theoretical implications of these findings are discussed. 相似文献
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Dolan KP 《Medical economics》1996,73(5):90-2, 95, 97-8
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Dolan KP 《Medical economics》1997,74(17):72, 75-6, 79 passim
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Hedging and nonlinear risk exposure 总被引:1,自引:0,他引:1
This paper documents some empirical evidence of nonlinear spot-futuresexchange rates relationships and develops an expected utilitymodel of an exporting firm to examine the associated economicimplications. The model shows that the firm should export more(less) and adopt an over (under) hedge in an unbiased currencyfutures market if the spot-futures exchange rates relationshipsis convex (concave) rather than linear. When fairly priced currencyoptions on futures are available, the firm should use them inconjunction with the currency futures so as to achieve betterhedging against its nonlinear exchange rate risk exposure. Thisprovides a rationale for the hedging role of options when theunderlying uncertainty is nonlinear in nature. 相似文献
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Ivo Vlaev Jeroen Nieboer Steve Martin Paul Dolan 《Journal of Financial Services Marketing》2015,20(1):74-88
Evidence from the behavioural sciences, notably economics and psychology, has profoundly changed the way policymakers and practitioners view expert advice to consumers. In this article, we take stock of the behavioural science evidence on financial advice and explore its implications for the profession. We organise the evidence in a comprehensive theoretical framework that also serves a practical purpose: the design of behaviour change interventions. We suggest various ways in which financial advisers can use the insights from behavioural science to improve the take-up and effectiveness of their advice. Finally, we discuss ethical and practical considerations for the financial advisor wishing to put behavioural science knowledge to use. 相似文献
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The Ticket to Work legislation (1999) introduces private-sector competition into the provision of return-to-work services for persons with disabilities who receive Disability Insurance (DI) payments. This article examines the likely effects of the Ticket to Work initiative using data from the Social Security Administration's Project NetWork experiment (1993–98). The analysis demonstrates that the efficacy of the Ticket to Work program will depend on whether the private sector replaces the vocational rehabilitative services currently provided by the public sector, or whether it expands the delivery of services—both in terms of the level and range of services provided, as well as increasing the portion of DI beneficiaries receiving services. (JEL H4 , I0 , J2 ) 相似文献