We investigate the claim that social rationality explains the emergence of one type of bubble in competitive asset markets that we shall refer to as “credit market bubble,” and that individual rationality explains the subsequent crash. The bubble is defined as a situation where (i) the debt is priced above its intrinsic value and (ii) the debt is rolled over even though each creditor should cas...

We investigate the claim that social rationality explains the emergence of one type of bubble in competitive asset markets that we shall refer to as “credit market bubble,” and that individual rationality explains the subsequent crash. The bubble is defined as a situation where (i) the debt is priced above its intrinsic value and (ii) the debt is rolled over even though each creditor should cas...

Article history: Received 13 December 2013 Received in revised form 26 June 2015 Accepted 3 August 2015 Available online 8 August 2015 This paper investigates stock market interdependencies between Sri Lanka and selected economies in the context of its long civil war using the Dynamic Conditional Correlation (DCC) model with monthly indices (1993–2013) and through bilateral analysis. While corr...

This paper develops a theory of the endogenous formation of a common market in a three–country, two–factor political economy model. In the status quo, Home and Foreign implement non-discriminatory policies towards international factor flows, as to maximize the domestic median voter’s welfare. Each of the two countries simultaneously holds then a referendum on a Common Market initiative leading ...

Surgical treatment of stress urinary incontinence changed dramatically with the introduction of the tension-free vaginal tape. Owing to its high efficacy and minimal patient discomfort this new minimally invasive procedure quickly obtained widespread acceptance and superseded the abdominal colposuspension as the gold standard. In the course of success of the original method a number of tension-...

suspension polymerization processes are significantly important in polymer bead formation. one of the important factors for bead size control in these processes is variation in surface tension. in this research, the prediction of optimum concentration of a surface active agent was investigated on the basis of the experimental surface tension diagrams. the experimental data show that the desired...

Until the late 1990s, the Taiwan Tobacco and Liquor Corporation (TTL) focused almost exclusively on serving the domestic market as a highly protected monopoly. This paper describes how the company has adopted a more outward looking strategy since 2000, with ambitions to become a regional, and eventually global, business by 2021. Drawing on company documents and industry sources, the paper argue...

IN THE UNITED STATES, HEALTH CARE COMPETES FOR CONsumers with other items in the marketplace. Individual resources and choices determine the distribution of health care, with little sense of collective obligation or a role for government. Known as market justice, this approach derives from principles of individualism, selfinterest, personal effort, and voluntary behavior. The contrasting approa...

The research of employability shows tension in the social field of career, where variables such as market value, gender, and personal skills are important. The aim of this study was to identify the predicted weight of market value of type of occupation, sex, and career competences (self-efficacy, pro-activity, and locus of control) over objective employability and perceived opportunities for a ...

he main objective of the advertising discourse is to encourage its viewer or reader to buy goods. this dialogue contains several inductive functions, including inductive functions of action and tension. the function of the induced action is an action-induced origin, whereas the function of the inductive tension is induced by the action originated. thus, tension-induced functions can be claimed ...