An axiomatic re-characterization of the Kemeny rule

Review of Economic Design - The Kemeny rule is one of the well studied decision rules. In this paper we show that the Kemeny rule is the only rule which is unbiased, monotone, strongly...     

Managers as Moral Leaders: Moral Identity Processes in the Context of Work

Journal of Business Ethics - This qualitative study explores how business leaders narrate their personal ways of recognizing, reasoning, and resolving moral conflicts and what these stories reveal...     

Performance Assessment of Model Averaging Techniques to Reduce Structural Uncertainty of Groundwater Modeling

Water Resources Management - Accurate estimates of groundwater modeling in arid regions have a crucial role in reaching a sustainable management of groundwater sources. However, groundwater...     

Fourier nonlinear quantile unit root test and PPP in Africa

We test the PPP hypothesis in 29 African countries using a newly developed nonlinear Quantile unit root test with a Fourier function which accounts for smooth breaks. Simulation indicates that the proposed new test has higher power than the conventional Quantile unit root test as proposed by Koneker and Xiao (2004). Our empirical results provide support for the PPP hypothesis in 21 out of 29 African countries, a unique discovery using their real effective exchange rates. It appears that incorporating Fourier function to nonlinear Quantile unit root test gets us closer and closer to solving the PPP puzzle in Africa.     

The South Africa-U.S. Trade and the Real Exchange Rate: Asymmetric Evidence from 25 Industries

Previous studies that assessed the effects of exchange rate changes on the trade balance of South Africa assumed that the effects are symmetric. In this paper we violate that assumption and assess the asymmetric effects of the real rand-dollar rate on the trade balance of 25 2-digit industries that trade between South Africa and the U.S. We find short-run asymmetric effects in a total of 19 industries but short-run cumulative or impact asymmetric effects only on five industries. Short-run asymmetric effects lasted into long-run asymmetric effects on 14 industries. Further analysis revealed industries that will benefit from rand depreciation and those that will be hurt from rand appreciation.     

Correction to: Development of a Fuzzy Multi-Objective Heuristic Model for Optimum Water Allocation

Water Resources Management - The original version of this article unfortunately contains mistakes introduced during the publishing process. The mistakes and corrections are described in the...