mation bound to almost all commercial goods or services. Familiar terms such as price discrimination, price wars, price fixing, consumer price indices, price rigidity, shadow prices, price tags, and so on signify the key role of prices in society and how markets can fail if the price-setting mechanism falters. At the level of the firm, pricing is the key means by which rents are appropriated: I...

Our paper presents an agent-based simulation environment for task scheduling in a distributed computer systems (grid). The scheduler enables the simultaneous allocation of resources like CPU time, communication bandwidth, volatile and non-volatile memory while employing a combinatorial resource allocation mechanism. The resource allocation is performed by an iterative combinatorial auction in w...

This paper takes a first step in formulating approaches to cost-benefit analysis consistent with sustainable development. It reviews the foundations of the customary approach to cost-benefit analysis, with emphasis on its discounted utilitarian roots, and proposes alternative foundations which are more satisfactory in two respects: they place more weight on the future, and they incorporate in a...

Based on the well-known fact that social networks can provide effective mechanisms that help to increase the trust level between two trade partners, we apply a simple game-theoretical framework to derive transaction costs as a high risk of opportunistic behavior in a repeated trade relation determined by the density and size of trading networks. In the empirical part of the paper we apply a two...

Many production activities generate undesirable byproducts in conjunction with the desirable outputs they produce. The present study uses an output distance function approach and its duality with the revenue function to estimate the marginal abatement cost of CO2 emissions from a sample of thermal plants in India. Two sets of exercises have been undertaken. The marginal abatement cost is first ...

Article history: Received 8 May 2006 Received in revised form 10May 2007 Accepted 1 June 2007 Available online 13 July 2007 Theproduction efficiency and shadowprices of three environmental outputs (BOD,COD, andSS) of 63 household-level paper-recycling units, from a recycling craft village in Vietnam, are assessed A two-stage procedure, linear programming and stochastic estimation, is used to es...

Shadow banking is a term that came out of the financial crisis of 2007-2009. There is a belief that shadow banking was one of the crisis reasons. Because the excessive expansion of shadow banking endangers the financial stability of countries, this paper examines the impact of shadow banking on financial stability using data from 14 countries of the G20 during 2002-2018. We divided countries in...

The main objective of this paper is to propose an improvement to existing methods of house price index construction by addressing three important oversights in the literature. Firstly, it is plausible that the shadow prices of property attributes evolve slowly over time, in line with the nature of consumer preferences. Existing methods either assume (explicitly or implicitly) that shadow prices...