Analyzing the interpersonal lending network of a Hungarian village in disadvantaged region, we find strong intermediary activity and tiered core-periphery structure. We show that main motive behind is not altruism or profit-seeking, but risk-sharing which most accentuated poor-to-poor Roma-to-Roma relations. Comparing this informal market to formal interbank market, more similarities than diffe...

The provision of ambulatory care by major retailers is small but growing, providing speedy attention to consumers with minimal wait times and no appointments necessary. Users of these clinics are satisfied with the care they receive. Primary care physicians have opposed retail clinics, concerned that conditions will be misdiagnosed, opportunities to address comorbidities and risk behaviors will...

We examine the evolving structure of the US hospital industry since 1970, focusing on how ownership form influences entry and exit behavior. We develop theoretical predictions based on the model of Lakdawalla and Philipson, in which for-profit and not-for-profit hospitals differ regarding their objectives and costs of capital. The model predicts for-profits would be quicker to enter and exit th...

This study of occupational safety and health (OSH) problems in the footwear industry in China, the world's largest shoemaker, is based on four years of research in China supplemented by research in Taiwan, Australia, and the United States. With the advent of the economic reforms of the early 1980s, the Chinese state is being driven by an economic imperative under which the profit motive overrid...

We present an economic model of media bias and media mergers. Media owners have political motives as well as profit motives, and can influence public opinion by withholding information that is pejorative to their political agenda — provided that their agenda is not too far out of the political mainstream. This is true even with rational consumers who understand the media owners’ biases, because...

Trading of electricity has exploded worldwide and price is displacing system planners as the means to ensure supply matches demand. Who will best ensure reliable supply? The quality of supply will be driven by the quality of the supply contract, not by whether the supplier owns physical assets. There is no economic way to target delivery on the integrated electric grid. When faced with a supply...

All-units discounts in retail contracts refer to discounts that lower a retailer’s wholesale price on every unit purchased when the retailer’s purchases equal or exceed some quantity threshold. These discounts pose a challenge to economic theory because it is difficult to understand why a manufacturer ever would charge less for a larger order if its intentions were benign. In this paper, we sho...

Prebisch believed that understanding the evolution of capitalist economies over time and in different contexts required a general cycle approach, which he labeled ‘dynamic economics’, encompassing all the different areas of economic activity. His dynamic economics developed between 1945 and 1949 stemmed from a critique of both Neoclassical and Keynesian theories which Prebisch viewed as static ...

The ultimate goal of financial management in a dental school is to accumulate assets that are available for strategic growth, which is a parallel objective to the profit motive in business. Budget development is often grounded in an income statement framework where the goal is to match revenues and expenses. Only when a balance sheet perspective (assets = liabilities + equity) is adopted can st...