Prediction markets are mechanisms that aggregate information such that an estimate of the probability of some future event is produced. It has been established that both real-money and play-money prediction markets are reasonably accurate. An SPRTlike test is used to determine whether there are statistically significant differences in accuracy between the two markets. The results establish that...

ing from Eq. 7, Corsetti (2008) characterized the natural rate of employment (output) if all prices were flexible (i.e. in the absence of nominal rigidities) by assuming that each firm would maximize current profit by charging the equilibrium markup over current marginal costs:

We investigate the importance of the social context for people’s voluntary contributions to a national park in Costa Rica, using a natural field experiment. Some subjects make actual contributions while others state their hypothetical contribution. Both the degree of anonymity and provided information about the contributions of others influence subject contributions in the hypothesized directio...

Abstract: The one-stage credit policy is a situation that arises, under a permissible delay in payments, when the supplier offers a credit period to the retailer, but the latter does not offer any credit period to his/her customers. However, this type of credit policy is debatable in most business transactions. In reality, the retailer also adopts the credit policy to stimulate his/her own dema...

Contemporary research on investment behaviour in Islamic perspective, most of the time, finds it expedient to assume zero rate of time preference in an Islamic economy. The author argues that there is no justification for that. According to him, there is nothing against positive time preference or against realizing a time value of money in an Islamic framework, as long as time value of money is...

N a previous issue of this Review, we pn-ovided some evidence that the policy conclusions of the St. Louis equation an-c robust with respect to both the specification of its lag structure and the imposition of polynomial restn-ictions: monetary policy has a significant long-run effect on aggn-egate income, while fscal policy does not.’ This result is imnportant because it provides evidence that...

In order to explore the complexities of developing a strategic marketing plan, this article is written in three parts. The first describes the strategic marketing planning process itself and the key steps within it. It also deals with implementation issues and barriers to marketing planning. The second part provides guidelines for the marketer which will ensure that the input to the marketing p...