In this note we show that the results developed in Singh and Vives (1984) are sensitive to the duopoly assumption (Rand Journal of Economics 15, 546-554). If there are more than two firms, prices may be higher under price competition than under quantity competition. This will be the case if quality differences are large and goods are complements. If goods are substitutes, high-quality firms may...

ELECTIONS AND ASSET PRICING: THE POLITICALLY SENSITIVE EQUITY OF US MILITARY CONTRACTORS by

We study a mean field game problem arising from the production control for multiple firms with price stickiness in commodity market. The dynamics each firm is described as (controlled) jump-diffusion process mean-field interaction. Each aims to maximize her expectation of cumulative net profit coupled other through processes. By solving limiting and fixed-point problem, we construct an explicit...

An implication of the incompleteness contracts is that there are going to be gaps and ambiguities either side can exploit. We ask whether expectation a counterparty likely act aggressively in its use contract language impacts price market participants attach contract. To do our analysis, we look at how markets terms for perennial “bad boy” sovereign debt markets, Republic Argentina. The results...

i n troduction: users’ behavioral intention to use the picture archiving and communication system (pacs) is important in the systems’ success and is an indicator of the users’ satisfaction with commitment and dependence on information systems. the present study aimed to evaluate the users’ continuous intention to use pacs based on the expectation confirmation model in educational hospitals of s...

In contrast with the classical models of frictionless financial markets, market models with proportional transaction costs, even satisfying usual no-arbitrage properties, may admit arbitrage opportunities of the second kind. This means that there are self-financing portfolios with initial endowments laying outside the solvency region but ending inside. Such a phenomenon was discovered by M. Rás...

Focus is here on coalitional games among economic agents plagued by aggregate pollutions of diverse sorts. Defecting players presumably pollute more than others. Then, granted convex preferences and technologies, the core is proven nonempty. In fact, under natural assumptions, a specific, computable core solution comes in terms of shadow prices on the said aggregates. Such prices may, in large ...

For portfolio choice problems with proportional transaction costs, we discuss whether or not there exists a shadow price, i.e., a least favorable frictionless market extension leading to the same optimal strategy and utility. By means of an explicit counter-example, we show that shadow prices may fail to exist even in seemingly perfectly benign situations, i.e., for a log-investor trading in an...

AIMS AND OBJECTIVES To determine client expectation from doctors, a descriptive survey was conducted amongst people above 18 years of age and doctors of Faridpur District. METHODOLOGY For this purpose a total of 400 patients and 30 doctors were involved. Both rural and urban population were included. A sample of 30 doctors was selected from the outdoor department of Faridpur Medical College H...