Knowledge of the structure of production in public-utility enterprises is of considerable economic importance. Such things as the nature and extent of returns to scale and returns to individual factor imputs, the degree of substitutability between inputs, and the extent of allocative inefficiency and X-inefficiency may have bearings on various issues at the plant, firm and industry levels. For ...

This article explores office market system dynamics through a simple simulation model. Model lag and adjustment parameters similar to real office markets generate explosive cycles. Simulations show that deviations from equilibrium can be reduced by changing the information structure of the system. System dynamics, principle /agent conflicts, a prisoners’ dilemma game, faulty information (poor f...

This paper investigates the profit-structure relationship in the Italian factoring industry over the period 1993-97. Differently from the previous literature, we have used Data Envelopment Analysis (DEA) to estimate efficiency measures. Although this innovation may imply a greater amount of noise in regression analyses undertaken, this method appear to be more appropriate than the parametric es...

Broiler production has great potentials for increasing protein supply in Iran and plays a vital role in economic system of the country. In this study technical, allocative and economic efficiency of broiler production farms in Fars Province was estimated by using Data Envelopment Analysis approach (DEA) method. The results of the study reveal that under constant return to scale (CRS) and variab...

Cognitive performance is critical to productivity in many occupations and potentially linked to pollution exposure. We evaluate this potentially important relationship by estimating the effect of pollution exposure on standardized test scores among Israeli high school high-stakes tests (2000-2002). Since students take multiple exams on multiple days in the same location after each grade, we can...

This paper proposes the network data envelopment analysis (DEA) model accounting for negative externalities and applies it for decomposition of profit inefficiency in the biomass-agriculture circular system (Bio-AG system). A circular structure of the Bio-AG system which is different from the previously applied network structures is assumed. Since the negative externalities (i.e., pollutant emi...

We investigate the effects of market making on market performance, focusing on allocative efficiency as well as gains from trade accrued by background traders. We employ empirical simulationbased methods to evaluate heuristic strategies for market makers as well as background investors in a variety of complex trading environments. Our market model incorporates private and common valuation eleme...

Local energy markets are a promising approach for automatic and efficient matching of renewable energy with household demand in smart grids. Therefore, such markets can help to improve power system reliability and at the same reduce emissions. However, to participate in such markets, customers need to disclose private consumption data. A number of studies show that such data records may reveal ...

We characterize the revenue-maximizing mechanism for time separable allocation problems in continuous time. The willingness-to-pay of each agent is private information and changes over time. We derive the dynamic revenue-maximizing mechanism, analyze its qualitative structure and frequently derive its closed form solution. In the leading example of repeat sales of a good or service, we establis...

We investigate the effects of market making on market performance, focusing on allocative efficiency as well as gains from trade accrued by background traders. We employ empirical simulationbased methods to evaluate heuristic strategies for market makers as well as background investors in a variety of complex trading environments. Our market model incorporates private and common valuation eleme...