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Studies on preferences for environmental quality usually posit that price and income explain most of the observed choices. However, we argue that conceptions of social norms and the common good are equally important when analyzing environmental voting outc ...
This paper seeks to add an economic contribution to the current debate on using university licensing contracts to improve access to medicines in developing countries. We build a simple model in which we have a university licensing out an academic invention ...
Development of composed services requires a continues adaptation of the composed service to the changing environment of offered services. Services may no longer be available or may change performance characteristics, price, or quality of service criteria a ...
Designing and correctly implementing Group Communication Systems (GCSs) is notoriously difficult. Assuming that processes fail only by crashing provides a powerful means to simplify the theoretical development of these systems. When making this assumption, ...
We attempt to translate Neo-Austrian ideas about the workings of financial markets, as originally advanced by F. A. Hayek, into the standard probabilistic language of modern finance. We focus on an apparent paradox, namely the insistence of Neo-Austrians o ...
The enterprises active in the industrial subcontracting branch are in a very competitive market and support large pressures on their prices and delivery schedules. The arrival on the market of suppliers from low-cost countries like Eastern Europe or the Fa ...
We analyse the optimal Initial Public Offering (IPO) mechanism in a multidimensional adverse selection setting where institutional investors have private information about the market valuation of the shares, the intermediary has private information about t ...
The enterprises active in the industrial subcontracting branch are in a very competitive market and support large pressures on their prices and delivery schedules. The arrival on the market of suppliers from low-cost countries like Eastern Europe or the Fa ...
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We study the pricing and hedging of contingent claims that are subject to Event Risk which we define as rare and unpredictable events whose occurrence may be correlated to, but cannot be hedged perfectly with standard marketed instruments. The super and su ...
Short Message Service (SMS) has become extremely popular in many countries, and represents a multi-billion dollars market. Yet many consumers consider that the price charged by the cellular network operators is too high. In this paper, we explain that ther ...
