Executive pay disparity, as measured by chief executive officer (CEO) pay slice (CPS), is positively associated with the implied cost of equity, even after controlling for other determinants of the cost of equity. The difference in the cost of equity can explain 43% of the difference in the valuation effect attributable to CPS reported by Bebchuk, Cremers, and Peyer (2011). Further analysis sho...

AIMS Relatively little is known about patterns of injury at the community level in Vietnam and their economic consequences. This study sought to estimate the costs of various unintentional injuries in Bavi District during one year; to describe how costs depended on gender, age, circumstances, and severity of injury; and to describe how the economic burden of unintentional injuries was distribut...

Many natural games have a dramatic difference between the quality of their best and worst Nash equilibria, even in pure strategies. Yet, nearly all results to date on dynamics in games show only convergence to some equilibrium, especially within a polynomial number of steps. In this work we initiate a theory of how well-motivated multiagent dynamics can make use of global information about the ...

While neoclassical models of profit-maximization assume static cost-minimizing behavior, agency models of managerial behavior, particularly under regulation, suggest that managers may not minimize costs in less-competitive environments. We test whether the transition from cost-of-service regulation to more marketoriented environments affected input demand at U.S. electric generating plants. We ...

OBJECTIVES To evaluate the national regulatory, health technology assessment (HTA), and reimbursement pathways for public health care in Australia, Canada, England, and Scotland, to compare initial Canadian national HTA recommendations with the initial decisions of the other HTA agencies, and to identify factors for differing national HTA recommendations between the four HTA agencies. METHODS...

T paper examines how the optimal investment in the capacity of flexible and nonflexible resources is affected by financial leverage and, conversely, how a firm’s resource flexibility affects its optimal capital structure. We consider a two-product firm that invests in the optimal capacity of product-flexible and productdedicated resources in the presence of demand uncertainty. Before investing ...

An integrated life-cycle assessment and life-cycle cost analysis model was developed and applied to enhance the sustainability of concrete bridge infrastructure. The objective of this model is to compare alternative bridge deck designs from a sustainability perspective that accounts for total life-cycle costs including agency, user, and environmental costs. A conventional concrete bridge deck a...

Landowners are commonly not only better informed about their private cost of conservation than conservation agencies, but also frequently in a position to spend resources on improving their knowledge about contract-relevant parameters before signing a contract on offer. We extend and generalize the literature on conservation contracting by endogenizing the information structure in a setting whe...