We apply the idea of partial honesty, first introduced by Dutta and Sen [Nash Implementation with Partially Honest Individuals, Game Econ. Behav. 74 (2012) 154-169.] in a complete information setting, to environments with incomplete information. We show that with private values and at least three individuals, incentive compatibility and no veto power are together sufficient for full implementat...

The aim of this article is to present the application of a strategic map for hospital management. The main hypothesis is, that strategic map for a hospital should differ from the classical one by Kaplan & Norton due to different priorities hospital work specificity as such. The main finding is that financial perspective is fundamental, basic for hospital activity. In hospital “X” strategic map,...

This paper considers the relationship between the extraction rates and remaining reserves of a nonrenewable resource. Under general conditions the derived extraction rule is firstly linear, and secondly exhibits a slope term common to all extractors regardless of pricing behaviour and costs whilst differences are captured by the intercept. Data from the world oil industry supports the hypothesi...

The opening of new markets or trade routes has resulted in the deliberate or accidental introduction of new species, while the growth in the volume of trade has increased the frequency of species introductions. We model the connection between landscape heterogeneity, resource extraction, the level of biodiversity, and the level of trade. We show that the invasion risks of trade reduce the socia...

Substitution Effects in Parental Investments The paper estimates how parents adjust bride-prices and land divisions to compensate their sons for differences in their schooling investments in rural China. The main estimate implies that when a son receives one yuan less in schooling investment than his brother, he will obtain 0.7 yuan more in observable marital and post-marital transfers as parti...

The costs of rent seeking exceed traditional measures when opportunity cost is considered. When the quantity of resources consumed by rent seeking is large, rent seeking draws consumer surplus out of alternative resource employments. The costs of rent seeking differ in partial and general equilibrium frameworks; Tullock (1989) recognizes this but incorrectly argues that rent seeking costs are t...

This paper studies an overlapping generations model with selfish agents, natural resources and human capital externalities. The initial result is to quantify the economic effects of intergenerational transfers by comparing a complete markets allocation with transfers to an allocation without transfers due to incomplete markets. The core contribution is then to show that a higher resource regene...

We consider one-to-one matching markets in which agents can either be matched as pairs or remain single. In these so-called roommate markets agents are consumers and resources at the same time. Klaus (2010) introduced two new “population sensitivity” properties that capture the effect newcomers have on incumbent agents: competition sensitivity and resource sensitivity. On various roommate marke...

The equity premium puzzle shows that using standard parameters and setup, the Consumption-based Capital Asset Pricing Model’s (CCAPM’s) prediction of the premium associated with systematic risk is out by an order of magnitude. The object of this paper is to consider the implications of each of the broad classes of explanations of the equity premium puzzle for resource allocation, welfare and po...

—This paper describes our efforts in refining k-nearest neighbor forest attributes classification using U.S. Department of Agriculture Forest Service Forest Inventory and Analysis plot data and Landsat 7 Enhanced Thematic Mapper Plus imagery. The analysis focuses on FIA-defined forest type classification across St. Louis County in northeastern Minnesota. We outline three steps in the classifica...