to measure an unbiased farm-specific efficiency of individual dairy farmers, a shadow-price profit frontier adjusted for market distortion was applied to a sample of 860 iranian small intensive dairy farms surveyed in 2005-2006. this measure was then compared with that of unadjusted measure that assumes undistorted market. a multiple general linear model (glm) technique was applied to the data ...

Fishing capacity management policies have been traditionally implemented at national level with national targets for capacity reduction. More recently, capacity management policies have increasingly targeted specific fisheries. French fisheries spatially vary along the French coastline and are associated to specific regions. Capacity management policies, however, ignore the capital mobility ass...

The aim of the chapter is to discuss and illustrate different approaches taken in the area of empirical market segmentation in tourism, and to raise conceptual, practical and methodological problems in this context. The chapter is limited to the discussion of empirical market segmentation, which means that an empirical data set (typically resulting from a tourist survey) represents the basis. P...

This study examines individual behavior in two well-functioning marketplaces to investigate whether market experience eliminates the endowment effect. Field evidence from both markets suggests that individual behavior converges to the neoclassical prediction as market experience increases. In an experimental test of whether these observations are due to treatment (market experience) or selectio...

We consider a model of directed search where the sellers are allowed to post mechanisms with entry fees. Regardless of the number of buyers and sellers, the sellers are able to extract all the surplus of the buyers by introducing entry fees and making price schedules positively sloped in the number of buyers arriving to their shops. This is in contrast to results that are achieved for large mar...

The efficient market hypothesis states that investors immediately incorporate all available information into the price of an asset to accurately reflect its value at any given time. The sheer volume of information immediately available electronically makes it difficult for a single investor to keep abreast of all information for a single stock, let alone multiple. We aim to determine how quickl...

The introduction makes up for the mandatory abstract.

Options contracts can provide trading partners with enhanced flexibility to respond to uncertain market conditions and allow for superior capacity planning thanks to early information on future demand. We develop an analytical framework to value options on capacity for production of non-storable goods or dated services. The market set-up is as follows: During the contract market, period 0, the ...