due to the special nature of agricultural activities and results of decisions influenced by the risk and uncertainty of these activities, consideration risk is essential in planning for agriculture sector. interval-valued fuzzy programming approach is advantage of in this study for considering the conditions of uncertainty and additionally emphasizing on the limitation of water resources in def...

4 Federal Reserve Bank of Atlanta E C O N O M I C R E V I E W Third Quarter 1998 Bid and ask quotes are prices at which dealers or market makers are willing to transact. A market maker is an individual or firm that risks its own capital to provide investors with immediacy of supply and demand. The bidask spread represents the cost to investors of transacting with the market maker. Investors pre...

We study incentive provision in a model of securities issuance with an informed issuer and uninformed investors. We show that the presence of an informed intermediary may increase surplus even if we allow for collusion between the intermediary and the issuer. Collusion is neutralized by introducing a misalignment between the interests of the issuer and those of the intermediary. To achieve this...

F years ago, the worst one could be called was a communist. Today, it likely is not flattering to be so referred to, but worse yet to be called a regulator. Regulators are found at all levels of government; one of the missions of government is, after all, to regulate for the greater good. But because opinions vary widely on just what is the “good” that is to be served, there is the Newtonian ef...

We consider optimal pricing by a profit-maximizing platform running a dynamic search and matching market. Buyers and sellers enter in cohorts over time, meet and bargain under private information. The optimal centralized mechanism, which involves posting a bid-ask spread, can be decentralized through participation fees charged by the intermediary to both sides. The sum of buyers’ and sellers’ f...