Knowledge Graphs have emerged as a compelling abstraction for capturing key relationship among the entities of interest to enterprises and integrating data from heterogeneous sources. JPMorgan Chase (JPMC) is leading this trend by leveraging knowledge graphs across organization multiple mission critical applications such risk assessment, fraud detection, investment advice, etc. A core problem i...

Regulators across many different jurisdictions and industries have recently adopted the practice of setting access prices based on the current costs of providing the relevant facilities. Though widely regarded as being efficient, the efficiency implications of using current costs instead of historical costs have not been formally analyzed. Our analysis shows that given stochastic costs, forward...

A decision maker is presented with two preference orders over n objects and chooses the one which is “closer” to his own preference order. We consider several plausible comparison rules that the decision maker might employ. We show that when n is large and the pair of orders to be compared randomly realizes, different comparison rules lead to statistically almost independent choices. Thus, two ...

Sta expenditures in the U.S. Congress increased exponentially from 1940 to 1980, but have remained roughly constant since. A theoretical model of Congressional expenditures, bureaucratic oversight, and congressional ethics is developed to understand historical data. Such a model allows one to de ne and test a measure of the fraction of Congress that maximizes material rewards (vs. intrinsic rew...

this study investigates the relationship between market structure and profitability in the iranian manufacturing industries. in this study, raw data based on international standard industrial classification (at four digit code) has been used. fixed effects panel estimation method (based on diagnostic test results) has been chosen for empirical investigation. the result of the study confirms the...

The study discusses Krishna Bharadwaj’s elaboration of the Sraffian critique currently dominating supply-and-demand equilibrium theories that are based on marginalist approach by making use documents from Sraffa archive. Starting astute observation law diminishing returns ‘was thin end wedge which marginal analysis was introduced and generalised’ is concerned with Sraffa’s treatment intensive h...

In contrast to what several papers have argued recently, we show that firm heterogeneity fosters agglomeration of economic activity. If firms are more similar with respect to their total factor productivity, each company faces a lower propensity to export. This renders the home market more important speaking against agglomeration. We also relate changes in firm heterogeneity to technological pr...

Using panel data for a maximum of 109 countries over the years 1976-2000, we empirically analyze the impact of decentralization on the occurrence of transnational terror. Our results show that expenditure decentralization reduces the number of transnational terror events in a country, while political decentralization has no impact. These results are robust to the choice of control variables and...

We develop a model of endogenous mergers to study their dynamic process. Firms choose whether, when, and with whom to merge. Two necessary conditions are identi…ed for mergers to occur: …rm heterogeneity and negative demand shocks. We show that mergers are strategic complements and therefore tend to occur in waves. Moreover, some mergers occur for strategic reasons in order to precipitate furth...