We deal with a recently proposed method of Chubanov [1], for solving linear homogeneous systems with positive variables. We use Nesterov's excessive gap method in the basic procedure. As a result, the iteration bound for the basic procedure is reduced by the factor $nsqrt{n}$. The price for this improvement is that the iterations are more costly, namely $O(n^2 )$ instead of $O(n)$. The overall ...

Calculation of the X-factor used for price caps has a fundamental flaw when it is based on conventional growth accounting total factor productivity analysis. This error is discussed and the appropriate corrective action is indicated. In an example based on the X-factor used for determining the change in the price for local exchange carriers’ interstate access service in the United States, it is...

The neoclassical price adjustment equation stipulates that prices move toward equilibrium at a rate that is proportional to the excess demand, i.e., the difference between the demand and supply divided by the demand (at that price). However, the demand and supply are generally nonlinear functions of price. We show that the information on this nonlinear variation of demand and supply leads to a ...

In this study, yield-water and profit function was used to obtain water demand function in agriculture sector. The results showed that the ratio of actual to potential Evapotranspiration had positive, significant effecton the ratio of actual to potential yield for wheat and barley. Also, square ratio of actual to potential Evapotranspiration had negative, significant relationship. After estimat...

We examine entry decisions in first-price and English clock auctions with participation costs. Potential bidders observe their value and report maximum willingness to pay (WTP) to participate. Entry occurs if revealed WTP (weakly) exceeds the randomly drawn participation cost. While payoffs are higher in English clock auctions, we find no corresponding difference in WTP between auction formats,...

I examine loan data from Prosper.com—a website which allows borrowers to post loans and for lenders to bid on those loans. The Prosper market somewhat resembles the theoretical model of search, herding, and crowding in a large market described in Berkovich and Tayon (2009). That model predicts that assets with high and low prices have high variance in the difference between price and true value...

Recent concessions in France and in the USA have resulted in a dramatic difference in the valuation placed on the toll roads; the price paid by the investors in France was 12 times current cash flow whereas investors paid 60 times current cash flow for US toll roads. In this paper, we explore two questions: what accounts for the difference in these multiples? and what are the implications with ...

The warrant price fluctuated in a range based on the arbitrage-free hypothesis. However, in the actual transaction, the warrant price will deviate the price range because of the investor sentiment, sometimes the deviation is too far that the actual price breaks the lower limit based on the arbitrage-free hypothesis, which make the market some arbitrage opportunities. The buyers’ strength and th...