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111.
112.
Nicolas Gravel 《Economic Theory》2001,17(1):163-180
Summary. This paper examines two problems associated with the use of potential Pareto criteria in welfare economics. The first problem
is the well-known intransitivity of the compensation criteria à la Kaldor-Hicks-Scitovsky. The second problem is the possible incompatibility between the Chipman-Moore-Samuelson criterion
and the Pareto principle. The main result of this paper is that, in order to avoid either of these problems, it is necessary
and sufficient that the domain to which these criteria are used is such that the Chipman-Moore-Samuelson criterion encompasses
completely the Pareto criterion. When interpreted in a standard economic environment, this result is shown to be equivalent
to Gorman's requirement of non-crossing between utility possibility frontiers.
Received: June 18, 1998; revised version: March 2, 2000 相似文献
113.
The best predictor of current investment at the firm level is lagged investment. This lagged-investment effect is empirically more important than the cash-flow and Q effects combined. We show that the specification of investment adjustment costs proposed by Christiano et al. (2005) predicts the presence of a lagged-investment effect and that a generalized version of their model is consistent with the behavior of firm-level data from Compustat. 相似文献
114.
Our contribution lies in explaining why inter-firm variations in the strategic decision to actively seek and acquire external scientific knowledge impact not only financial performance but also the effects of firms’ own R&D. We further demonstrate that the performance implications of using external knowledge and technologies vary considerably depending on their source (domestic or foreign). Knowledge sourcing from domestic organizations has negligible consequences for financial performance and an adverse effect on firms’ own R&D. By contrast, knowledge acquisition from foreign countries results in superior performance and assists firms in unlocking their innovation potential. 相似文献
115.
This paper examines the impact of market and supply accessibility on the geographic distribution of manufacturing sectors in the Euro-Mediterranean area. The evolution of market and supplier access in the area is first investigated. Then, market and supplier access, production cost and regional integration are focused on as the main determinants of industrial location. A deeper regional integration agreements can act as an important dispersion force, driving the location of manufacturing in new member states and Mediterranean countries. 相似文献
116.
This paper analyses the nature of technical change in the French labour market. Data Envelopment Analysis (DEA) is adopted to investigate productivity change in a sample of higher education leavers over the period 1999 and 2004. In a first step, the Luenberger Productivity Indicator (LPI) is used to estimate and to decompose productivity change. Following LPI, a better productivity is found for the workers in Paris and the well-qualified occupations in France. In analysing the nature of the technical change by the concept of parallel neutrality, technical progress seems to have influenced all professions. In particular, biased inputs of human capital component benefit more for the well qualified professions with an upper increase of the efficiency scores for executives and teachers. Furthermore, some evidences show the key role of “learning by doing” in the worker's adaptation to technical change. Policy implications are then derived from our results. 相似文献
117.
As consumer use of information and communication technology (ICT) products grows, the importance of ICT standards in consumer
markets also grows. While standards for manufactured products were once developed at the national level in formal standards
bodies, standards for ICT products today are more likely to be developed by informal standards bodies that target global markets,
creating new challenges for national consumer protection laws. As part of the process of creating a single market, the EU
developed an innovative and successful form of “coregulation” known as the “New Approach” that coordinated the work of legislators
and standards developers to reduce technical barriers to trade in the internal market. In order to protect consumer interests
in markets for ICT products effectively, another “New Approach” is needed to coordinate the work of global ICT standard-developing
organizations with the goals of national and regional consumer protection laws, but the institutional challenges facing such
a strategy are daunting. The French DADVSI legislation represents progress in this direction; further progress may be possible
by adopting “better regulation” strategies.
相似文献
Nicolas JondetEmail: |
118.
Nicolas Williams 《Labour economics》2009,16(3):272-283
This paper uses BHPS data to investigate the relative importance of seniority and experience in determining male wages in the UK labor market. Using both the Altonji and Shakotko instrumental variable and the Topel two-step estimation approaches, I find that for all male workers, tenure plays a modest role, increasing wages by about 1% each year over the first 10 years on the job. General labor market experience has a larger role, so that after 30 years wages have increased by about 60%. Individual and job match heterogeneity are important, and should be carefully modeled when estimating wage equations for the British labor market. These results are remarkably similar to the most recent evidence about these relationships in the US labor market. After extending the standard model to include industry and occupation experience, the estimated impact of job seniority becomes negligible for nonunion workers. Instead, the wages of nonunion workers rise because of the accumulation of general and sector-specific experience. The wages of union workers are still found to increase with job seniority over the first ten years with their employer, suggesting that if seniority matters for wages it is only for union workers. 相似文献
119.
A decision maker faces two correlated risks and can obtain information on only one of them. Intuition suggests that the existence
of a high correlation (in absolute value) between the risks should increase total information value. Indeed in such a case
information about one risk induces a relevant information on the other one. Using a simple example, we show that this intuition
is often correct, but that it can also be mitigated by other factors. 相似文献
120.
Numerous studies have documented substantial deviations from the law of one price for consumer goods. However, in most cases small transaction costs can explain these violations. In our study, we purposely focus on a market where such frictions are minimal, namely online bookselling in the US and Canada. We exploit the high frequency nature of the data to disentangle nominal rigidities from market segmentation and show that while firms seem to respond to domestic competitive pressure, there is no evidence that they react to fluctuations in the relative price of foreign competition following exchange rate movements. In addition, we cannot identify any significant impact on sales volume stemming from variations in international relative prices. Hence, our results suggest that even in an environment with minimal frictions, international market segmentation is extensive and responsible for violations of the law of one price. 相似文献