sweden and spain experiment with different provider models to reform healthcare provision. both models have in common that they extend the role of the for-profit sector in healthcare. as the analysis of saltman and duran demonstrates, privatisation is an ambiguous and contested strategy that is used for quite different purposes. in our comment, we emphasize that their analysis leaves questions ...

A principal uses security bid auctions to award an incentive contract to one among several agents, in the presence of hidden action and hidden information. Securities range from cash to equity and call options. “Steeper” securities are better surplus extractors that narrow the gap between the two highest valuations, yet reduce effort incentives. In view of this trade-off, the generalized equity...

The literature views aggressive trading behavior as the key for representativeness heuristic traders to survive in competition with rational traders. This paper provides another reason. That is, in this dynamic model of a competitive securities market, representativeness heuristic traders can derive more expected profit from the misvaluations (created by noise traders) than can rational traders...

Business expansions along with number of new companies being engaged in variety of industries aimed at getting bigger market share, underscored the role of corporate governance within the financial sphere. One of the important issues in corporate governance is acquisition. Due to the significant impact of companies in refining and petrochemical sectors on capital market and whole economy, their...

This paper discusses a buying and selling timing prediction system for stocks on the Tokyo Stock Exchange and analysis of intemal representation. It is based on modular neural networks[l][2]. We developed a number of learning algorithms and prediction methods for the TOPIX(Toky0 Stock Exchange Prices Indexes) prediction system. The prediction system achieved accurate predictions and the simulat...