The Mckinnon-Shaw Hypothesis, in its’ various forms, is now thirty years old. Over that period literally hundreds of empirical studies have been completed examining the hypothesis in many different contexts. Initially, the hypothesis focused on the effects of so-called “Financial Repression” (low or negative real interest rates) on savings and investment levels in developing countries. In more ...

the concept of countervailing power is a term to describe the situation in which the market power of one side (sellers) may be balanced by the market power of another side(buyers) in a given market. the purpose of this paper is to test this hypothesis and to determine whether the market power of sellers has had a restraining influence on increases in buyer market power in iran’s large industrie...

A hypothesis is proposed on a potential role of protein dielectricity as an unfolding factor in protein-protein interactions. It is suggested that large protein complexes and aggregation seeds can unfold target proteins by virtue of their effect on the dielectric properties of water at the protein-solvent interface. Here, similar to the effect of membrane surfaces, protein surface can cause dec...

This paper proves the existence of fully-revealing rational expectations equilibria for almost all sets of beliefs when investors are ambiguity averse and have preferences that are characterized by Choquet expected utility. The result implies that strong-form efficient equilibrium prices exist even when many investors in the market make use of information in a way that is substantially differen...

We present a random variable characterization of the necessary and sufficient conditions for a shift of the distribution of rate of return on the risky asset in the two asset portfolio problem to reduce demand for all risk–averse expected utility maximizing investors. We also present a random variable characterization of the shifts that lead to both a reduction in demand and a non–increase in e...

We investigate the magnitude and characteristics of the photocentre offset phenomenon of small solar system bodies, and compare different scenarios for correcting for it. We discuss the corresponding implications and limitations to the inverse problem of model construction based on astrometry with instruments such as GAIA.

April 2008 Abstract This paper presents an axiomatic model of probabilistic choice under risk. In this model, when it comes to choosing one lottery over another, each alternative has a chance of being selected, unless one lottery stochastically dominates the other. An individual behaves as if he compares lotteries to a reference lottery—a least upper bound or a greatest lower bound in terms of ...