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Book part
Publication date: 2 June 2008

Didier Laussel and Raymond Riezman

We develop a simple two-country model of international trade that assumes that there is a fixed cost of doing international trade. We show that this leads to multiple…

Abstract

We develop a simple two-country model of international trade that assumes that there is a fixed cost of doing international trade. We show that this leads to multiple equilibria that can be Pareto-ranked. We examine the stability properties of these equilibria.

Details

Contemporary and Emerging Issues in Trade Theory and Policy
Type: Book
ISBN: 978-1-84950-541-3

Keywords

Article
Publication date: 8 March 2011

Anthony Gerard Scanlan and Mark Keith Halton

The purpose of this paper is to present a hierarchical circuit synthesis system with a hybrid deterministic local optimization – multi‐objective genetic algorithm…

Abstract

Purpose

The purpose of this paper is to present a hierarchical circuit synthesis system with a hybrid deterministic local optimization – multi‐objective genetic algorithm (DLO‐MOGA) optimization scheme for system‐level synthesis.

Design/methodology/approach

The use of a local optimization with a deterministic algorithm based on linear equations which is computationally efficient and improves the feasibility of designs, allows reduction in the number of MOGA generations required to achieve convergence.

Findings

This approach reduces the total number of simulation iterations required for optimization. Reduction in run time enables use of full transistor‐level models for simulation of critical system‐level sub‐blocks. Consequently, for system‐level synthesis, simulation accuracy is maintained. The approach is demonstrated for the design of pipeline analog‐to‐digital converters on a 0.35 μm process.

Originality/value

The use of a hybrid DLO‐MOGA optimization approach is a new approach to improve hierarchical circuit synthesis time while preserving accuracy.

Details

COMPEL - The international journal for computation and mathematics in electrical and electronic engineering, vol. 30 no. 2
Type: Research Article
ISSN: 0332-1649

Keywords

Book part
Publication date: 12 December 2012

Partha Gangopadhyay

We develop an interactive framework to model speculation (over regulation) and regulation (of speculation) in a greenhouse gas (GHG) permits market. In our proposed model…

Abstract

We develop an interactive framework to model speculation (over regulation) and regulation (of speculation) in a greenhouse gas (GHG) permits market. In our proposed model, big traders engage in speculation by strategically withholding and releasing permits to influence the temporal path of permit prices in order to maximize their profits. The national government/regulator has an incentive to stabilize permit prices by suitably manipulating stocks of permits. Thus, the GHG permits market can typically be characterized by circular interdependence in which big traders will be “gaming” the regulator to generate profits: the state of the market affects speculative behavior of traders that in turn impacts on government's behavior, which in turn impacts on the state of the market. The interactive framework explores the gaming between speculators and a regulator, or government, to shed crucial insights on the nature of equilibrium in possible global emissions trading schemes (GETS). By so doing, we are able to unravel potential pitfalls of any global trading system in pollution permits for arresting global warming. Once policy makers are aware of these pitfalls, for example, a “culture of speculation” as opposed to a culture of safety, they can devise a suitable mechanism to bypass these potential pitfalls.

Details

Cooperation for a Peaceful and Sustainable World Part 1
Type: Book
ISBN: 978-1-78190-335-3

Book part
Publication date: 18 December 2016

Miguel A. Martínez-Carrasco

We present an overview of research on spillover effects within firms and introduce a classification of the literature. We divide spillovers into either technological or…

Abstract

We present an overview of research on spillover effects within firms and introduce a classification of the literature. We divide spillovers into either technological or social in nature. In our classification, a technological spillover is one in which an agent rationally responds to a cue in the workplace that does not rely on the identity or characteristics of a coworker. Social spillovers, on the other hand, may be thought of as arising from the social preferences of an individual or social norms established in the organization.

Details

Experiments in Organizational Economics
Type: Book
ISBN: 978-1-78560-964-0

Keywords

Book part
Publication date: 5 January 2005

Douglas Glen Whitman

Langlois agrees with my position – or perhaps I should say, given the order of our publications, that I agree with his. I accept his taxonomy of methodological positions…

Abstract

Langlois agrees with my position – or perhaps I should say, given the order of our publications, that I agree with his. I accept his taxonomy of methodological positions and agree that position two is correct.

Details

Evolutionary Psychology and Economic Theory
Type: Book
ISBN: 978-0-76231-138-5

Book part
Publication date: 29 July 2009

Partha Gangopadhyay and Manas Chatterji

We can divide the humanity into 5,000 ethnic groups who reside in 160 distinct states in the world. On an average this implies that only one randomly picked state out of…

Abstract

We can divide the humanity into 5,000 ethnic groups who reside in 160 distinct states in the world. On an average this implies that only one randomly picked state out of every 10 states is ethnically homogenous. In other words the borders between different ethnic groups do not accord with national borders. We, hence, live in a melting pot of ethnicity and most countries are ethnically heterogeneous. In an alternative fashion, we can make a statement about our ethnic diversity by making a simple observation that there are over 600 living language groups in 184 states in the world. There is thus a reason to believe that the human race confronts a serious and endemic ethnic diversity, which is also increasingly accompanied with unprecedented ethnic rivalry, competition, conflicts, violent clashes and all-out wars. Our chapter provides a comprehensive investigation into the economic causes and consequences of ethnic heterogeneity in our modern world. In order to understand the basic economics of ethnic diversity, we will focus our attention to what is commonly known as ‘global firms’ who employ people from diverse ethnic backgrounds. The consequences will be examined in the context of modern societies where the global firms play an important economic role.

Details

Peace Science: Theory and Cases
Type: Book
ISBN: 978-1-84855-200-5

Content available
Book part
Publication date: 2 June 2008

Abstract

Details

Contemporary and Emerging Issues in Trade Theory and Policy
Type: Book
ISBN: 978-1-84950-541-3

Book part
Publication date: 16 January 2014

Sascha Füllbrunn and Ernan Haruvy

We investigate the implications of the misalignment between manager and shareholder interests and the effects of initial ownership stakes and reinvestment of unpaid…

Abstract

Purpose

We investigate the implications of the misalignment between manager and shareholder interests and the effects of initial ownership stakes and reinvestment of unpaid dividends on managerial self-dealing.

Methodology

We collect and analyze data from controlled laboratory experiments with an experimental setting which captures the role of ownership in managerial considerations.

Findings

We see the emergence of both investor-aligned outcomes and managerial self-dealing outcomes. We find that increasing managers’ initial endowment of shares makes it harder for managers to coordinate on an outcome and lowers return on investment. Moreover, allowing managers to reinvest unpaid dividends results in a transfer of wealth to management.

Research limitations

The results and the conclusions are drawn upon data from the particular setting we investigate. Generalizing them beyond the specific setting should be done with caution.

Practical implications

Higher managerial ownership stake means that managers have a greater incentive to reward shareholders, but we find that it may also imply a more difficult coordination problem between managers – sometimes to the detriment of shareholders.

Originality

This study is the first to consider the direct relationship between managers’ portfolios and voting decisions regarding dividends and investment levels.

Details

Experiments in Financial Economics
Type: Book
ISBN: 978-1-78350-141-0

Keywords

Book part
Publication date: 29 July 2009

Partha Gangopadhyay and Manas Chatterji

Our work provides a comprehensive examination of two major issues concerning the fragmentation of state and possible state failure, which will be one of the major…

Abstract

Our work provides a comprehensive examination of two major issues concerning the fragmentation of state and possible state failure, which will be one of the major deterrence for achieving peace in our world. There are two important sources of conflicts – one is for the rural society and the other is relevant for the urban society. In the rural set-up, we argue that the fragmentation of markets leads to clientelism between rich farmers and their subjugated clients, small farmers. We show this as an equilibrium phenomenon in which a handful of rich and powerful players, or farmers, can effectively control millions of small farmers, which can easily challenge the authority and the mandate and the jurisdiction of a nation state. This element of clientelisation can effectively fragment the state in a developing nation.

Details

Peace Science: Theory and Cases
Type: Book
ISBN: 978-1-84855-200-5

Abstract

Details

Experimental Economics and Culture
Type: Book
ISBN: 978-1-78743-819-4

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