To prevent further increases in energy consumption, the government of Iran commenced energy subsidy reform in 2010. This paper investigates the fuel conservation effects of the reform in Iran using a homothetic translog cost function that provides estimates of the own- and cross-price elasticities of fuel demands. The percentage reduction in fuel demands is estimated using the likely effect of ...

In this paper we construct a modeling for detection of banks which are experiencing serious problems. Sample and variable set of the study contains 30 banks of Iran during 2006-2014 and their financial ratios. Well known multivariate statistical technique (principal component analysis) was used to explore the basic financial characteristics of the banks, and discriminant Logit and Probit models ...

in this paper, economic convergence in selected oic (36 countries) is studied. the convergence hypothesis is tested through three approaches: beta convergence, sigma convergence, and time series model. ols is used for estimating the cross section model and cross variance is used to test the distributive model. for analyzing time series model, we used augmented dicky fuller test. beta convergenc...

We prove the existence of comonotone Pareto optimal allocations when decision makers have probabilistic sophisticated variational preferences and thus representing criteria in the class of law invariant robust utilities. In contrast to previous studies, we show that optimal allocations exist also when decision makers have very different preferences, for example characterized by different domain...

The proliferation of country groupings indicates the need to assess the effectiveness of the current system for development cooperation and to explore better ways to manage the international system, as heterogeneity among developing countries increases. Great caution should be exercised in devising new country categories. Donors can use sound criteria for aid allocation without creating new gro...

Liquidity constraints and partial risk-sharing are often indistinguishable. However, I illustrate using artificial data from two different model economies how band spectrum regression can be used to distinguish between lack of consumption insurance and liquidity constraints. JEL Classifications: D1, E21.

This paper considers incomplete information games with payoffs subject to correlated random disturbances. It explains the connection between the uniqueness of quantal response equilibria, where large noise is required, and the uniqueness of equilibria in global games, where small noise is required. JEL classifications: C72, D82.

This paper analyzes a two–stage sealed–bid auction that is frequently employed in privatization, takeover, and merger and acquisition contests. This auction format yields the same expected revenue as the open ascending (English) auction, yet is less susceptible to preemptive bidding and collusion. JEL classifications: D44 (Auctions)

Concern for individual consumption relative to per capita consumption can induce a fear of falling behind which increases precautionary savings. This fear intensifies as societal income growth increases, allowing for a positive effect of growth on savings rates. JEL classifications: E21, D11, D91.

This paper shows that the quality scores in keyword auctions can be strategically chosen to extract all the advertisers’ surplus. The reason for the full extraction result is that the quality scores may effectively set all the bidders’ valuations equal to the highest valuation, which induces intense bidding competition. JEL classifications: D44; M37