In a capitalist economy, prices serve to equilibrate supply and demand for goods and services, continually changing to reallocate resources to their most efficient uses. However, secondary stock market prices, often viewed as the most "informationally efficient" prices in the economy, have no direct role in the allocation of equity capital since managers have discretion in determining the level...

Since introduced in the 1960’s, energy efficiency standards and labels have been widely adopted in the world as one of the most effective policies to raise end-use energy efficiency. These policies have gained increasing popularity among government agencies because not only they are effective tools in achieving energy saving and climate change goals, but also they can bring substantial economic...

With the increasing use of different types of auctions in market designing, modeling of participants’ behaviors to evaluate the market structure is one of the main discussions in the studies related to the deregulated power industries. In this article, we apply an approach of the optimal bidding behavior to the Iran wholesale electricity market as a restructured electric power industry and mode...

Research in industrial nations suggests that formal math skills are associated with improvements in market and non-market outcomes. But do these associations also hold in a highly autarkic setting with a limited formal labor market? We examined this question using observational annual panel data (2008 and 2009) from 1,121 adults in a native Amazonian society of forager-farmers in Bolivia (Tsima...

Research in industrial nations suggests that formal math skills are associated with improvements in market and non-market outcomes. But do these associations also hold in a highly autarkic setting with a limited formal labor market? We examined this question using observational annual panel data (2008 and 2009) from 1,121 adults in a native Amazonian society of forager-farmers in Bolivia (Tsima...

economic growth is the most important purpose of developing countries. each country can improve social welfare and access to international markets by increasing production potential. production can increase by two ways: the first one, using more inputs that raising production cost and the second one, improving efficiency that can produce more output with certain inputs or the same output with l...

this paper investigates the effects of advertising, profitability, concentration and research & development on the market share of iranian great food and beverage industries during the period of 2000-2011. for this purpose, we used the more than 50 employee's statistics of industrial 4- digit firms and panel data technique for estimating the model. the main results of this paper reveal that, th...

Economic growth in pre-industrial Europe was driven by the expansion of the market. The ‘market’ was a complex commercial structure made up of merchant firms, merchant associations, and organized markets. This paper provides an overview of the pre-industrial commercial structure, of how it functioned, and of how it evolved. JEL Categories: N13, D23, L14, L81, O12 *This paper is a draft chapter ...