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Full-Text Articles in Other Economics

Taxing Shared Economies Of Scale, Brad Borden Jan 2009

Taxing Shared Economies Of Scale, Brad Borden

Bradley T. Borden

Economies of scale exist if long-run average costs decline as output rises. All else being equal, the decline in average costs should lead to greater profitability, making economies of scale attractive to businesses. Nobel laureate George Stigler recognized that economies of scale should help determine the optimum size of a firm. To obtain economies of scale and optimum firm size, parties may integrate resources or grant access to resources without integrating. Such arrangements create shared economies of scale. Tax law must consider the effects of shared economies of scale and address them. In particular, the varying degrees of scale-sharing raise ...


Radio Spectrum And The Disruptive Clarity Of Ronald Coase, Thomas W. Hazlett, David Porter, Vernon Smith Jan 2009

Radio Spectrum And The Disruptive Clarity Of Ronald Coase, Thomas W. Hazlett, David Porter, Vernon Smith

ESI Working Papers

In the Federal Communications Commission, Ronald Coase exposed deep foundations via normative argument buttressed by astute historical observation. The government controlled scarce frequencies, issuing sharply limited use rights. Spillovers were said to be otherwise endemic. Coase saw that Government limited conflicts by restricting uses; property owners perform an analogous function via the “price system.” The government solution was inefficient unless the net benefits of the alternative property regime were lower. Coase augured that the price system would outperform. His spectrum auction proposal was mocked by communications policy experts, opposed by industry interests, and ridiculed by policy makers. Hence, it took ...


Democracy Autocracy And Macroeconomic Performance In Pakistan, Nasir Iqbal, Sardar Javaid Iqbal Khan, Muhammad Irfan Chani Dec 2007

Democracy Autocracy And Macroeconomic Performance In Pakistan, Nasir Iqbal, Sardar Javaid Iqbal Khan, Muhammad Irfan Chani

Muhammad Irfan Chani

Pakistan showed a healthy growth rate of 5.6 percent during the entire history and faced many ups and downs in economic growth due to dramatic changes in political regimes. The literature shows mixed results regarding the impact of autocracy or democracy on economic growth. The aggregate growth of the economy under autocracy remained better as compared to democratic period. Financial indicators show consistent path through out the history of Pakistan. Different trade policies are designed in different regime to run the external sector and the impact of each policy was different.


The Role Of Economics In Achieving Welfare Gains For Animals, Jennifer Fearing, Gaverick Matheny Jan 2007

The Role Of Economics In Achieving Welfare Gains For Animals, Jennifer Fearing, Gaverick Matheny

State of the Animals 2007

The demand for animal products and services is a powerful economic force in society, and multibillion-dollar industries are organized around this demand. These industries often face increased costs by improving animal welfare and are quick to use economic arguments against proposed welfare reforms (see sidebar on page 169). These arguments, while often specious, can influence consumers, voters, and policy makers. Citizens are less likely to support animal welfare reforms they’ve been told will double their shopping bill or impoverish family farmers.

Animal welfare advocates cannot respond to these economic arguments with moral rhetoric alone. Instead, non-governmental observers (NGOs) must ...


Rationality In Economics: Constructivist And Ecological Forms, Vernon L. Smith Jan 2007

Rationality In Economics: Constructivist And Ecological Forms, Vernon L. Smith

ESI Publications

Chapter 1: Rediscovering the Scottish Philosophers


Combine Harvester Econometric Model With Forward Speed Optimization, Nathan E. Isaac, Graeme R. Quick, Stuart J. Birrell, William M. Edwards, Bruce A. Coers Jan 2006

Combine Harvester Econometric Model With Forward Speed Optimization, Nathan E. Isaac, Graeme R. Quick, Stuart J. Birrell, William M. Edwards, Bruce A. Coers

Agricultural and Biosystems Engineering Publications

A combine harvester econometric simulation model was developed with the goal of matching the combine forward speed to the maximum harvested net income per acre. The model considers the machinery management costs of owning a combine and platform header for harvesting wheat. A statistical Design of Experiment (DOE) was used to evaluate the model using tri-level variables; the medium values constituted the model base case. Of the 27 input variables, the optimum speed was significantly influenced by the crop area, G/MOG ratio, grain unit price, field yield, field efficiency, grain moisture content, probability of a working day in the ...


Economic Efficiencies Of The Energy Flows From The Primary Resource Suppliers To The Electric Load Centers , Ana Margarida Quelhas Alves De Freitas Jan 2006

Economic Efficiencies Of The Energy Flows From The Primary Resource Suppliers To The Electric Load Centers , Ana Margarida Quelhas Alves De Freitas

Retrospective Theses and Dissertations

The economic efficiency of the electric energy system depends not only on the performance of the electric generation and transmission subsystems, but also on the ability to produce and transport the various forms of primary energy, particularly coal and natural gas. However, electric power systems have traditionally been developed and operated without a conscious awareness of the energy system-wide implications, namely the consideration of the integrated dynamics with the fuel markets and infrastructures. This has been partly due to the difficulty of formulating models capable of analyzing the large-scale, complex, time-dependent, and highly interconnected behavior of the integrated energy system ...


(Review) Self-Interest Before Adam Smith: A Genealogy Of Economic Science, Spencer J. Pack Dec 2005

(Review) Self-Interest Before Adam Smith: A Genealogy Of Economic Science, Spencer J. Pack

Economics Faculty Publications

Pierre Force, Self-Interest Before Adam Smith: A Genealogy of Economic Science (Cambridge: Cambridge University Press, 2003), pp. ix, 279, $65.00. ISBN 0-521 83060-5.


Economic Contributions Of Atv-Related Activity In Maine, Jonathan Rubin, Charles Morrris Mar 2005

Economic Contributions Of Atv-Related Activity In Maine, Jonathan Rubin, Charles Morrris

Economic Development

Riding ATVs has become a highly visible recreational activity in Maine. During the 2003/2004 season from July 1, 2003 to June 30, 2004 there were 59,057 ATVs registered in Maine to 45,561 separate households in Maine and from outside of Maine. During 2004, the Margaret Chase Smith Policy Center at the University of Maine in conjunction with the Maine Department of Conservation conducted a study to determine the total contribution to Maine’s economy that results from the spending related directly to the purchase and use of ATVs in Maine. We also examined the environmental and economic ...


A Survey In Network Economics: Spam Email, Internet Routing, Graphical Economics, And International Trade, Mark E. Haase Jan 2005

A Survey In Network Economics: Spam Email, Internet Routing, Graphical Economics, And International Trade, Mark E. Haase

Honors Theses (PPE)

A survey of current topics in network economics, a relatively new and growing field of research at the intersection of economics and network theory. Case studies in spam email, Internet routing, and graphical economics are presented as practical applications. A network economic analysis of international trade is also offered. Most of the current literature addresses a highly technical audience. This paper intends to bridge the gap by presenting network economics in language that will be familiar to students of economics.


Trends. Common Currency On Currency Interventions In A Global Economy: Psychological Considerations, Editor Sep 2000

Trends. Common Currency On Currency Interventions In A Global Economy: Psychological Considerations, Editor

International Bulletin of Political Psychology

This article discusses government interventions in economies in the context of a global economy. While economists usually assume actors to be rational, the author notes that this may not be the case with human belief systems and actions.


Trends. Money Talks, Nobody Walks I: The International Monetary Fund And The World Bank, Editor Mar 2000

Trends. Money Talks, Nobody Walks I: The International Monetary Fund And The World Bank, Editor

International Bulletin of Political Psychology

This article discusses the economic activities of the World Bank, the IMF, and a United States Congressional commission that critiqued their operations.


Adam Smith On The Virtues: A Partial Resolution Of The Adam Smith Problem, Spencer J. Pack Mar 1997

Adam Smith On The Virtues: A Partial Resolution Of The Adam Smith Problem, Spencer J. Pack

Economics Faculty Publications

Adam Smith's definition of justice as a moral virtue based on the "passion" of resentment in 'The Theory of Moral Sentiments' (1759), despite seeming contradictions, supports his analysis of an acquisitive, commercial society in 'The Wealth of Nations' (1774) partly by precluding the concept of a just price.


Slavery, Adam Smith’S Economic Vision And The Invisible Hand, Spencer J. Pack Jan 1996

Slavery, Adam Smith’S Economic Vision And The Invisible Hand, Spencer J. Pack

Economics Faculty Publications

Smith was against slavery on moral and economic grounds. The "invisible hand" in societies which allow slavery, operates in such a way that increases in the wealth of the rich, leads to increased misery for the poor free citizens as well as for the slaves themselves. It seems that the beneficial workings of the "invisible hand" are dependent upon commercial societies which arc not based upon the institution of slavery.


An Economic Evaluation Of The Product Sugar With Special Emphasis On The Abnormal Sugar Market Of 1963-1964, Merlin J. Olsen May 1970

An Economic Evaluation Of The Product Sugar With Special Emphasis On The Abnormal Sugar Market Of 1963-1964, Merlin J. Olsen

All Graduate Theses and Dissertations

The product sugar is studied in detail with special emphasis on supply and demand factors, in an attempt to better understand the abnormal sugar market of 1963-1964. The unusual market fluctuations of that period appear to have been initiated by a statistical imbalance in world supply and demand of sugar. The extent of price fluctuations in the united states during 1963-1964 we accentuated by the inability of current sugar legislation to shield the U.S. market from the world market, and by the openly aggressive purchasing policies followed by the U.S. department of agriculture which further aggravated an already ...