The study o€ers the most direct evidence to date on price noises in call auctions and their correction. We examine a unique sample of two identical securities (two equalpayo€ Israeli government bonds) that were traded on separate yet almost simultaneous auctions on the Tel-Aviv Stock Exchange (TASE). The prices of the bonds were equal on average. However, on most of the sample days there were p...

Performance in a non-symbolic comparison task in which participants are asked to indicate the larger numerosity of two dot arrays, is assumed to be supported by the Approximate Number System (ANS). This system allows participants to judge numerosity independently from other visual cues. Supporting this idea, previous studies indicated that numerosity can be processed when visual cues are contro...

Consumers frequently engage in pre-purchase search to extract up-to-date information for their purchase decisions. Search is an essential part of online comparison-shopping and decision-making process as it reduces purchase related uncertainty and increases the likelihood of purchase satisfaction. In this paper, we study how determinants of prepurchase search, purchase related uncertainty and t...

This paper analyzes dynamic economies in renewable energy technologies. The paper has two contributions. The first is to test the robustness of experience in solar photovoltaic, solar thermal and wind energy to the addition of an explicit time trend, which has been done in experience studies for other industries, but not for renewable energy technologies. Estimation is carried out on the assump...

Price comparison sites have become an increasingly popular way to shop online. Yet, even though consumers have complete access to the list of prices for apparently identical products offered on these sites, persistent price dispersion has been widely observed. One important theoretical explanation for this phenomenon comes from clearinghouse models of price dispersion. These models predict that...

We present some Language Technology applications and resources that have proven to be valuable tools to promote the use of Basque, a low density language. We also present the strategy we have followed for almost twenty years to develop those tools and derived applications as the top of an integrated environment of language resources, language tools and other applications. In our opinion, if Bas...

This study presents a laboratory experiment of the first and second price sealed bid auctions with independent private values, where the distribution of bidder valuations may be unknown. In our experimental setting, in first price auctions, bids are lower with the presence of ambiguity. This result is consistent with ambiguity loving in a model that allows for different ambiguity attitudes. We ...

This paper summarizes what we have learned about price stability since the C.D. Howe Institute and Bank of Canada conferences of 1996 and 1997.1 The range of issues that a central bank must consider in its evolving approach to price stability, and that these two conferences covered, is broad. It includes setting targets for the behaviour of the price level, developing techniques for forecasting...

We show how an upstream …rm by using a price-dependent pro…tsharing rule can prevent destructive competition between downstream …rms that produce relatively close substitutes. With this rule the upstream …rm induces the retailers to behave as if demand has become less price elastic. As a result, competing downstream …rms will maximize aggregate total channel pro…t. When downstream …rms are bett...