The uniform-price auction is used in many regional electricity procurement auctions and its “collusive-seeming equilibria” have been linked to potential exercise of market power. Such equilibria do not exist, however, if a small amount of cash is split among rationed bidders. To shed light on what drives this result, I also examine variations in which the auctioneer is able to increase and/or d...

This paper empirically examines whether additional future fixed capital and R&D investment expenditures induce firms to accumulate cash reserves while considering the role of market imperfections. Implementing a dynamic framework on a panel of US, UK and German companies, we find that firms make larger additions to cash holdings when they plan additional future R&D rather than fixed capital inv...

The environment is the source of many discussions in America’s board rooms. Most of the conversations probably center around cost containment, dealing with new regulations or reacting to unexpected problems. Some conversations may even revolve around how to “cash in” on the public’s concern for the environment. All of these discussions are normal, but also are increasingly becoming outdated. Co...

Michael K. Lettau is an economist in the Office of Compensation and Working Conditions, Bureau of Labor Statistics. Thomas C. Buchmueller is an assistant professor at the Graduate School of Management, University of California, Irvine. Employers’ costs for total benefits grew roughly 50 percent faster than employee wages over the 1980–96 period, according to the Bureau of Labor Statistics Emplo...

Current technological developments are progressing quite rapidly, so that it affects the development of payment systems, especially in use non-cash systems. Non-cash systems have begun to replace role cash Indonesia. The digital wallets continues this day. purpose research is find out how individual shopping culture city Medan. This study uses a qualitative method using questionnaire with sampl...

Long-term care (LTC) must be carefully delineated when expenditures are compared across countries because how LTC services are defined and delivered differ in each country. LTC’s objectives are to compensate for functional decline and mitigate the care burden of the family. Governments have tended to focus on the poor but Germany opted to make LTC universally available ...

The inherent uncertainty and imprecision in project scheduling have motivated the proposal of several fuzzy set theory based extensions of activity network scheduling techniques. Building upon these, a cash flow calculationmethodology for projects including activitieswith fuzzy durations and/or costs is proposed in this paper. According to the proposed approach, the project cash flow is represe...

The passage of the 1996 PRWORA (Personal Responsibility and Work Opportunities Reconciliation Act) transformed the U.S. welfare system from a federal entitlement program that emphasized cash assistance to poor families, primarily, to a state block grant that stressed time limits and work. More specifically, the law mandated lifetime time limits of five years for receipt of cash assistance (TANF...

We estimate the causal effect of temporary tax incentives on equipment investment using a difference-in-differences design and policy shifts in accelerated depreciation. Analyzing data for over 120,000 US firms from 1993 to 2010, we present three findings. First, bonus depreciation raised investment by 17.3 percent on average between 2001 and 2004 and 29.5 percent between 2008 and 2010. Second,...

of “Efficient Cryptography for Information Privacy” by Foteini Baldimtsi, Ph.D., Brown University, May 2014. In the modern digital society, individuals, businesses and governments perform numerous everyday tasks such as shopping, banking and commuting using electronic media. Although these electronic transactions provide efficiency and convenience, they usually overlook the privacy of the users...