The paper compares conventional and final-offer arbitration from the welfare perspective. By some existing contractual arrangement, one party is supposed to make a payment to the other party, depending on the state of the world. Under asymmetric information, one party has a better signal about the state of the world and the other party is aware about its informational disadvantage. Then the ran...

Crossbar switch is a key component of communication switches used in networks. Allocation of resources has a direct impact on packet transmission. A poor allocation results in long transmission delays. Hence, switches must include an arbiter that efficiently allocates the crossbar’s resources. In this brief, a novel VLSI CMOS implementation of a high performance wrapped wave front arbitration (...

Recently, privatization has become very popular worldwide as an efficient means of constructing and operating infrastructure facilities. Like many other countries, Japan also has adopted a policy in favor of privatization, and has privatized several industries. Now, the privatization of expressway projects has become a controversial issue as the Japanese government has begun considering it as o...

The nations of the former Communist bloc face a task unparalleled in the annals of world history. By promoting allocation of market resources based on politics and social policy instead of economic efficiencies, the former regimes created economies of inefficiency. Committed economic reformers face the task of reallocating resources from inefficient producers dependent on government monies to c...

The privatization process in Eastern Europe is not irreversible. Future governments may want to (partially) expropriate successul private rms in order to subsidize unsuccessful ones. We use a simple median voter model to predict the policy of future governments. It is shown that there will be less expropriation the more shares were distributed for free to the population. Diversi ed mass privati...

a review of studies about sports privatization indicates that almost allcountries in the world have paid considerable attention to the role and thesignificance of sports privatization. however, it should be noted that thereare not only one or two factors influencing sports privatization. the mainissue is that sports privatization especially for football clubs cannot beeffective without the exis...

The economic literature shows that privatizing Social Security can improve labor supply incentives, but it can also reduce risk sharing when households face uninsurable risks. We simulate a stylized 50-percent privatization with transaction costs financed by consumption taxes and examined its impact on macroeconomic variables as well as on the welfare across generations and income classes. Our ...

This paper describes the process of privatization of China’s Township Enterprises. Findings from a recent field survey by the authors show how far privatization has proceeded and how it has affected firm performance. The pervasiveness and impact of privatization are readily apparent. The privatization in the mid-1990s was deep and fundamental. More than 50% of local government-owned firms have ...

OBJECTIVES The International Monetary Fund encourages privatization of state-owned tobacco industries. Privatization tends to lower cigarette prices, which encourages consumption. This could be countered with effective tax policies. We explored how investment by British American Tobacco (BAT) influenced tax policy in Uzbekistan during privatization there. METHODS We obtained internal document...