Overeducation, regional labor markets, and spatial flexibility

For most workers, access to suitable employment is severely restricted by the fact that they look for jobs in the regional labor market rather than the global one. In this paper we analyze how macrolevel opportunities (regional market characteristics) and microlevel restrictions (the extent to which job searchers are restricted to the regional market) can help to explain the phenomenon of overeducation. We use a two-step procedure to control selective access to employment. The results show that the size of the labor market is an important factor in avoiding overeducation.     

External knowledge search,innovative performance and productivity in the Korean ICT sector

In recent years, Korea’s Information and Communication Technology (ICT) industry has grown rapidly. The prosperity of the ICT industry has brought growing recognition that rising productivity and innovative performance have made major contributions to ensuring competitive advantage in international markets. In this context, recent studies stress the importance of external knowledge for improving both innovative performance and productivity. This paper empirically investigates the effects of firms’ external knowledge search behavior on their productivity as well as their innovative performance in the Korean ICT manufacturing sector. Based on firm-level data from the Science and Technology Policy Institute (STEPI), this study indicates that incremental innovation and productivity are both related to external knowledge search.     

The cost of unconventional gas extraction: A hedonic analysis

We focus on identification and estimation of potentially negative environmental impacts of unconventional natural gas extraction on property values in the United States and advance previous research by contributing new data and new identification strategies for isolating these potential impacts. Our study area consists of two counties in Pennsylvania that are home to large amounts of unconventional natural gas extraction but are otherwise isolated from other resource extraction industries or large urban areas. We deploy parametric, semi-parametric, and matching hedonic regression models that include recent quasi-experimental methods and, in contrast to previous research and much popular intuition, we fail to find robust significance that negative environmental externalities of natural gas extraction are manifested in nearby property values. While there may be plausible risks associated with unconventional natural gas extraction, we do not find consistent evidence to suggest that these risks significantly affect nearby property values.     

A decision method for supplier selection in multi-service outsourcing

Although supplier selection in multi-service outsourcing is a very important decision problem, research concerning this issue is still relatively scarce. This paper proposes a decision method for selecting a pool of suppliers for the provision of different service process/product elements. It pioneers the use of collaborative utility between partner firms for supplier selection. A multi-objective model is built to select desired suppliers. This model is proved to be NP-hard, so we develop a multi-objective algorithm based on Tabu search for solving it. We then use an example to show the applicability of the proposed model and algorithm. Extensive computational experiments are also conducted to further test the performance of the proposed algorithm.     

When Shopbots Meet Emails: Implications for Price Competition on the Internet

Quantitative Marketing and Economics - The Internet has dramatically reduced search costs for customers by using such technologies as shopbots. Email based targeting is relatively inexpensive; the...     

The Fundamental Theorem of Asset Pricing under Proportional Transaction Costs in Finite Discrete Time

We prove a version of the Fundamental Theorem of Asset Pricing, which applies to Kabanov's modeling of foreign exchange markets under transaction costs. The financial market is described by a   d × d   matrix-valued stochastic process  (Π _t ) ^T _{t =0}  specifying the mutual bid and ask prices between d assets. We introduce the notion of "robust no arbitrage," which is a version of the no-arbitrage concept, robust with respect to small changes of the bid-ask spreads of  (Π _t ) ^T _{t =0}  . The main theorem states that the bid-ask process  (Π _t ) ^T _{t =0}  satisfies the robust no-arbitrage condition iff it admits a strictly consistent pricing system. This result extends the theorems of Harrison-Pliska and Kabanov-Stricker pertaining to the case of finite Ω, as well as the theorem of Dalang, Morton, and Willinger and Kabanov, Rásonyi, and Stricker, pertaining to the case of general Ω. An example of a  5 × 5  -dimensional process  (Π _t )² _{t =0}  shows that, in this theorem, the robust no-arbitrage condition cannot be replaced by the so-called strict no-arbitrage condition, thus answering negatively a question raised by Kabanov, Rásonyi, and Stricker.     

“中元”货币区的构建前景探析——基于博弈论的视角

随着中国港澳台与大陆经济联系不断加强,一个开放、繁荣的中华经济圈正在初步形成,"中元"货币区的建立越来越受关注。本文从博弈论的角度,在分析加入"中元"区各参与方不同成本和收益的基础上,建立了不同的完全信息静态博弈模型,指出"中元"区的构建必须加强相关制度建设,从而达成货币统一的承诺。     

盈余反应非对称性：会计稳健性，抑或费用粘性

文章运用2008-2011年我国A股主板上市公司数据,首次将会计稳健性和费用粘性纳入同一研究框架来探究盈余反应非对称反应的根源。实证研究结果表明,基于会计稳健性根源的盈余反应非对称性系数不显著,基于费用粘性根源的盈余反应非对称性系数显著为正。这一结果表明,我国公司盈余反应非对称性的根源主要在于费用粘性,而非会计稳健性。     

Women rule: potato markets,cellular phones and access to information in the Bolivian highlands

In highland Bolivia, potato markets are widespread and access to market information has entered the digital age. Information networks lubricated by ubiquitous cellular technologies are supplanting traditional means of information‐gathering. We explore the impacts of access to cellular phones on market selection, use of social networks to acquire information, and gendered responsibilities within the potato market chain near Cochabamba. The entire family participates in potato production and marketing, but responsibilities are differentiated by gender. Men take a leading role in potato production and women in marketing. Access to cellular phones affects decisions about where to market potatoes and improves the potato marketing process.     

Land Transport for Export: The Effects of Cost, Time, and Uncertainty in Sub-Saharan Africa

In Sub-Saharan Africa (SSA), inland export transport costs and time delays are much higher for landlocked countries, vary substantially between different geographic corridors, and exhibit substantial uncertainty. Unit costs and costs of time for land transport of exports are high for many agricultural products relative to metals and other high-value products. We illustrate systemic uncertainty in land and maritime transport for exporting by use of simulation. Relationships among uncertainty, infrastructure quality, and other features of logistics systems are highly non-linear, and can be potentially used to identify priorities for trade facilitation.