Data envelopment analysis (DEA) is used to estimate the overall efficiency and productivity growth of credit cooperatives in Japan during 1992–1996. Overall efficiency is decomposed into output technical efficiency and input allocative efficiency. Twenty percent of all credit cooperatives in Japan are foreign owned with more than 90% of those owned by Koreans. The history of institutional discr...

This research proposes a parametric estimation of the structural dynamic efficiency measures proposed by Silva and Oude Lansink (2009). Overall, technical and allocative efficiency measurements are derived based on a directional distance function and the duality between this function and the optimal value function. The applicability of the parametric proposal is illustrated by assessing dynamic...

IT enables a more smooth performance of entire business exchanges. Hence it has the potential to alter market efficiency. Our paper addresses the question whether market efficiency is realized differently in a digital market setting as opposed to analog auctions. In addition, the paper will explore whether it is more likely that market efficiency will improve in the digital auction setting than...

Detailed case study material illustrates why the performance of two British national champions (British Airways and British Telecom respectively) was superior to that of their German counterparts (Lufthansa and Deutsche Telekom): beyond just the effects of privatisation, both the airline and telecommunications industries have been characterised by substantial technological and market change whi...

What are the consequences of making bids and offers in the book available to traders in a call market? This is a problem in market design. We employ a computational mechanism design methodology to attack this problem and find that allocative efficiencies are higher in a closed book design. We validate our computational approach by running a series of tests with human subjects in exactly the sam...

This paper describes the strategies used by AstonCAT-Plus, the post-tournament version of the specialist designed for the TAC Market Design Tournament 2010. It details how AstonCATPlus accepts shouts, clears market, sets transaction prices and charges fees. Through empirical evaluation, we show that AstonCAT-Plus not only outperforms AstonCAT (tournament version) significantly but also achieves...

consumption data that can be incorpoThe value-added tax (VAT) is often a rated into the framework of the law may major component of national fiscal strucnot be available. The existence in VAT tures. While its effects on allocative effilaws of various tax rates and exemptions ciency, inflation, income distribution, and complicates matters further. One solution tax administration have been addres...

This study was conducted to assess the comparative efficiency of Aftab Bahumukhi Farm Limited (ABFL) supervised broiler farms and farmers’ own managed broiler farms. Data were collected from randomly selected 90 broiler farmers of which 45 were ABFL supervised farmers and 45 were own managed farmers. Cobb-Douglas stochastic production function and cost frontier function were applied to determin...

Traders that operate in markets with multiple competing marketplaces must often choose with which marketplace they will trade. These choices encourage marketplaces to seek competitive advantages against each other by adjusting various parameters, such as the price they charge, or how they match buyers and sellers. Traders can take advantage of this competition to improve utility. However, appro...

Since the year 2000, the annual trading agent competition has provided a forum for designers to evaluate programmed trading techniques in a challenging market scenario in competition with other design groups. After three years of apparent progress, we attempt to evaluate the trading competence of competition participants, in the 2002 tournament and over time. Although absolute measure of indivi...