This article analyzes generalized method of moments estimation when the sample is not a random draw from the population of interest. Auxiliary information, in the form of moments from the population of interest, is exploited to compute weights that are proportional to the inverse probability of selection. The essential idea is to construct weights for each observation in the primary data such t...

We investigate the implications of the new price information in the latest International Comparison Program (ICP) survey for evaluating the year 2005 exchange rate misalignment estimates. A decomposition exercise reveals that the misalignment revisions are substantially affected by the ICP price updates. Two measurement-related and four economic factors are used to explain the differences in mi...

First year experience is a concern to Universities in Australia for a long time. This has presented itself forcefully in Engineering Faculties which have a high student attrition rate during the first year of study. Universities and Faculties have employed many strategies to try and address this “leakage” of students. Some of the approaches adopted include student mentoring, and various program...

This paper deals with the measurement of e¢ciency di¤erences among countries within a federation. The key tool is the use of a suitable interpretation of the non-substitution theorem in order to get a natural technological standard. Two alternative indices are proposed. One provides a structural productivity measure, independent of consumption and prices. The other consists of a price index ass...

We consider all-pay auctions in the presence of interdependent, affiliated valuations and private budget constraints. For the sealed-bid, all-pay auction we characterize a symmetric equilibrium in continuous strategies for the case of N bidders. Budget constraints encourage more aggressive bidding among participants with large endowments and intermediate valuations. We extend our results to the...

We employ weak dominance to analyze both first-price and second-price auctions under the discrete private-value setting. We provide a condition under which the expected revenue from second-price auction is higher than that of first-price auction. We also provide implications for large auctions, including the “virtual” revenue equivalence.

In this article, we describe the implementation of a virtual factory communication system using the manufacturing message specification (MMS) standard and its companion standards (MMS-CS). In particular, a number of virtual networked machines based on the MMS-CS standard are designed and implemented for the virtual factory environment. Additionally, the MMS internet monitoring system (MIMS) is ...