We analyze an exchange economy in which (i) all commodities except money are indivisible, (ii) agents' preferences can be described by a reservation value for each bundle of indivisible objects, and (iii) all agents are price-takers. We obtain a necessary and sufficient condition under which market clearing prices exist. Implications for market mechanisms are discussed. Journal of Economic Lite...

Owners of stochastic assets can pool their endowments to smoothen and insure individual payoffs across outcomes and time. We explore, in such a setting, how contingent shadow prices on aggregate resources can be used for three purposes: First, to design mutual contracts for risk averse agents; second, to quantify the malfunctioning of such contracts when there are risk lovers (or scale economie...

rice production in most of asian countries has been increased more rapidly than population and this has been led to increase in supply and proportionately decrease in the real price of rice in world and domestic markets. furthermore, together with growth in production and national gross income of the country per-capita income has been increased and also demand for rice at national and internati...

We evaluated problem behavior exhibited by 6 individuals with developmental disabilities using the behavioral economic conceptualization of unit price. Descriptive observations were conducted during interactions between the participants and their primary care providers in a clinical laboratory, the participants' homes, or school. Data were recorded on potential reinforcers and problem behavior....

Urgent action is needed to reduce the harm caused by smoking. Product standards that reduce the addictiveness of cigarettes are now possible both in the U.S. and in countries party to the Framework Convention on Tobacco Control. Specifically, standards that required substantially reduced nicotine content in cigarettes could enable cessation in smokers and prevent future smoking among current no...

Investments in Generating Capacities between a monopolist and two competing firms are compared where the firms invest in their capacity and fix the retail price while electricity demand is uncertain. A unit price auction determines the wholesale electricity price when the firms compete. They know the level of demand when they bid their capacities. Total capacities can be larger or smaller with ...

BACKGROUND Nepal was struck by devastating earthquakes in April-May 2015, followed by the India-Nepal border blockade later that year. METHODS We used the United Nations Commodity Trade Statistics (UN Comtrade) database to analyse exports of various health commodities from India to Nepal from January 2011-September 2016. We used time-series regressions of trading volume vs. unit price to ask ...

OBJECTIVE To evaluate the potential impact of two alcohol control policies under consideration in England: banning below cost selling of alcohol and minimum unit pricing. DESIGN Modelling study using the Sheffield Alcohol Policy Model version 2.5. SETTING England 2014-15. POPULATION Adults and young people aged 16 or more, including subgroups of moderate, hazardous, and harmful drinkers. ...

BACKGROUND The inverse relation between energy density (kcal/g) and energy cost (price/kcal) has been interpreted to suggest that produce (fruit, vegetables) is more expensive than snacks (cookies, chips). OBJECTIVE The objective of this study was to show the methodologic weakness of comparing energy density with energy cost. DESIGN The relation between energy density and energy cost was re...

OBJECTIVE To evaluate the use of e-procurement to obtain supplies for a network of seven university hospitals with a joint purchase system. METHODS The study was carried out between October 2003 and October 2005. We analyzed nine joint purchases of 37 pharmaceutical items. All the items were purchased in at least two-thirds of the nine occasions and/or were among the 10 items with the highest...