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Since Akerlof’s theory of a market for lemons, economists have viewed quality uncertainty as an informational advantage for sellers. Drawing on frontier techniques, we propose in this paper a simple method to measure inefficiency of both sellers and buyers in markets for goods with different levels of quality. We apply our non-parametric double-frontier framework to the case of illicit substanc...

Attribution-Noncommercial 3.0 Unported License http://creativecommons.org/licenses/by-nc/3.0/), permitting all non commercial use, distribution, and reproduction in any medium, provided the original work is properly cited. Global Journal of Science Frontier Research Mathematics and Decision Sciences Volume 12 Issue 6 Version 1.0 June 2012 Type : Double Blind Peer Reviewed International Research...

We consider the tradeoff between efficiency and incentives in large double auction environments with weak budget balance. No mechanism simultaneously gives agents perfect incentives to be truthful and ensures first-best efficiency, but a planner designing a mechanism may be willing to compromise on either of these dimensions for improvements along the other. She would then naturally wish to fin...

Attribution-Noncommercial 3.0 Unported License http://creativecommons.org/licenses/by-nc/3.0/), permitting all non commercial use, distribution, and reproduction in any medium, provided the original work is properly cited. Global Journal of Science Frontier Research Mathematics & Decision Sciences Volume 12 Issue 2 Version 1.0 February 2012 Type : Double Blind Peer Reviewed International Resear...

The Brazilian agro-industrial frontier in Mato Grosso rapidly expanded in total area of mechanized production and in total value of production in the last decade. This article shows the spatial pattern of that expansion from 2000 to 2010, based on novel analyses of satellite imagery. It then explores quantitatively and qualitatively the antecedents and correlates of intensification, the expansi...

The paper introduces an exclusion/inclusion fuzzy classification neural network. The network is based on our GFMM [3] and it allows for two distinct types of hyperboxes to be created: inclusion hyperboxes that correspond directly to those considered in GFMM, and exclusion hyperboxes that represent contentious areas of the pattern space. The subtraction of the exclusion hyperboxes from the inclu...

Attribution-Noncommercial 3.0 Unported License http://creativecommons.org/licenses/by-nc/3.0/), permitting all non commercial use, distribution, and reproduction in any medium, provided the original work is properly cited. Global Journal of Science Frontier Research Chemistry Volume 12 Issue 5 Version 1.0 Year 2012 Type : Double Blind Peer Reviewed International Research Journal Publisher: Glob...

Commons Attribution-Noncommercial 3.0 Unported License http://creativecommons.org/licenses/by-nc/3.0/), permitting all non commercial use, distribution, and reproduction in any medium, provided the original work is properly cited. Global Journal of Science Frontier Research Mathematics and Decision Sciences Volume 12 Issue 14 Version 1.0 Year 2012 Type : Double Blind Peer Reviewed International...