What are individuals’ preferences over the payoffs of others? We show that individuals aim to achieve equity among other agents but that they narrowly bracket their equity concerns — they equalize time budgets or monetary budgets at the expense of equalizing overall budgets. Indeed, individuals believe that achieving equity within narrow brackets is more socially appropriate than achieving over...

Background: Crowdfunding has risen rapidly as a way of raising funds to support projects such as art projects, charity projects, and new ventures. It is very important to understand how crowds in the crowdfunding market are organized to carry out various activities. This study documents and compares two crowd designs for crowdfunding, namely pure crowds, where all crowd members participate as e...

This study examines the effect of international listing on the conditional return distribution of Australian stocks in the domestic market. We conduct an intervention analysis in an EGARCH framework to measure any shift in the parameters describing the daily return generating process. All fifteen stocks that were listed on the major U.S. exchanges (NYSE and NASDAQ) as American Depositary Receip...

Previous theories of "nancial market rationing focussed on a single market, either the credit or the equity market. An interesting question is whether credit and equity rationing are mutually compatible, and how they interact. We consider a model with twodimensional asymmetric information, where entrepreneurs have private information about both the expected returns and the risk of their project...

This paper examines the problem of aggregating infinite utility streams with a social welfare function that respects the Hammond Equity and Weak Pareto Axioms. The paper provides a complete characterization of domains (of the one period utilities) on which such an aggregation is possible. A social welfare function satisfying the Hammond Equity and Weak Pareto Axioms exists on precisely those do...

The world-wide electricity sector reforms of the early 1990s have revealed the complexities of introducing market driven reforms and making them work in network and infrastructure industries. This paper reflects on the experience to date with the process and outcomes of marketbased electricity reforms in less-developed, transition and developed economies. Evidence suggests similar problems faci...

a r t i c l e i n f o Keywords: Brand equity Industrial branding Dimensions of brand equity Marketing-mix efforts Corporate image A model is developed to examine the relationships among marketing-mix efforts (channel performance, value-oriented price, promotion, and after-sales service), corporate image, three dimensions of brand equity (brand awareness with associations, perceived quality, and...

this paper explores the capabilities of multi-objective particle swarm optimization algorithmin a simulation-optimization model for solving waste load allocation problems. the main goals are totaltreatment costs, violation of the water quality standards and equity. in this research, the water qualitysimulation model is coupled with a multi-objective optimization model, mopso. in order to derive...