The paper introduces an innovative graph for presenting bilateral exchange rates. The currency quantities are on the axes
and the exchange rate is the ratio between them, i.e., the slope of a ray from the origin. Behavior is captured by currency
offer curves. The paper uses the model to address the issues surrounding China’s export-led growth strategy, i.e., its policy
of undervaluing the yuan. 相似文献
A data set of 266 four-digit SIC U.S. manufacturing industries is used to examine the relationship between tariff protection
and workforce gender. The paper shows that industries with a relatively large proportion of women are more likely to be protected
by U.S. tariff policy, even when factors such as wages and human capital are controlled. Furthermore, this result is robust
in that it is not driven by any particular industry or industries. 相似文献
A “micro-micro” consumer problem of gasoline purchases is examined using daily price data. Comparing the optimizing consumer
with one who buys gasoline at random, the paper finds optimizers save about 4% of their annual gasoline bill. The paper also
provides some evidence about the costs of non-optimal gasoline buying strategies.
相似文献
This paper uses the usual eBay auction variables and some data from ABE and Amazon, namely, lot size and the alternative e-price,
the lowest price for a given book on a given site, to examine in the question of how information from ABE and Amazon affects
eBay auction outcomes. We find that although lot-size sometimes affects bids and final sale price, the alternative e-price
effects are more important. Sellers on eBay set their minimum prices below the alternative e-prices, but the closer the minimum
price is set to the alternative e-price, the lower the final sale price. Decomposing this result into bidding versus final
sale price per se effects, our evidence suggests that the primary comparison shopping effect is on bidding behavior. 相似文献
This paper analyses the influence of market and brand-related signals on franchisees’ decisions when choosing a franchise brand with which to open an outlet for the first time. Panel data methodology was used to analyse a sample of 1277 chains operating in Spain, Mexico and Peru between 2004 and 2013. The results show that market signals prevail over brand-related signals. Within brand-related signals, franchisees first seek information relating to the brand’s sector and then seek information relating to the brand’s value. Franchisors should match the content of the signals they send to the market to the true characteristics of the franchise. Franchisors should also endeavour to ensure the country where they operate has general and franchise-specific legislation that fosters business activity by both franchisor and franchisee. The use of institutional quality as a signal in a multi-country study represents a significant contribution to the literature on franchising.
Municipal solid waste is often transferred to landfills in other regions or states. While municipalities frequently resist
imports, the interpretations of the Interstate Commerce Clause require that landfills accept waste regardless of its origin.
This may require importers to act in ways that are not in their own best interest. The analysis of this paper suggests that
importers benefit from trade when their landfill is so large that it is not exhausted at the end of the planning period. However,
when landfill capacity is sufficiently scarce, importing waste is not welfare enhancing. Such municipalities have considerable
motivation to try to de facto exclude waste from outside the municipality. 相似文献
Suppose the marginal cost of a bundle is less than the sum of the marginal costs of the two products that make up the bundle.
In this case, even when demands are completely uncorrelated, bundling is profitable but usually reduces total sales. The primary
assumption of this paper is that firms are reluctant to bundle because they resist the loss in sales. Three optimization problems
are analyzed: no bundling, mixed bundling, and bundling with profits and sales objectives, in which the firm has an objective
function with a penalty for lost sales. This paper will show that firms benefit by bundling even if they modify their prices
in such a way to reduce (or reverse) any loss in sales. 相似文献
Suppose a firm’s research and development (R&D) improves product reliability which in turn decreases the cost of product failure for both the firm and its customers. The primary research question of the paper is how a firm with market power optimally adjusts its R&D if it experiences a manufacturing cost shock. Our model suggests that a manufacturing cost shock prompts the firm to do less R&D in the cases where the replacement cost is low or the marginal manufacturing cost is high. Conversely, if the replacement cost is high and the marginal manufacturing cost is low, then the firm increases R&D, mitigating some of the increase in the manufacturing cost. The paper also compares the outcomes for reliability, profits, consumer surplus, and social surplus for the optimal R&D case as compared to the case of doing no R&D, paying particular attention to how exogenous changes in the marginal manufacturing cost affect this comparison. 相似文献