conomists love to say that there is no such thing as a free lunch. But the Chilean government agency responsible for school grants, Junta Nacional de Auxilio Escolar y Becas (JUNAEB), is an exception to the rule. During the school year, JUNAEB provides breakfast and lunch for 2 million children in primary and secondary public schools. In a developing country where about 14 percent of children u...

In financial markets an excess of buying tends to drive prices up, and an excess of selling tends to drive them down. This is called market impact. Based on a simplified model for market making it is possible to derive a unique functional form for market impact. This can be used to formulate a non-equilibrium theory for price formation. Commonly used trading strategies such as value investing a...

During recent years, examining the performance of contrarian strategies has been taken into consideration by scholars and stock market's activists, though several evidences are available based on profitability of this type of strategies, much of them have been referred to American and European's stock markets. In current study, the act of these strategies will be examined in Tehran's stock exch...

During recent years, examining the performance of contrarian strategies has been taken into consideration by scholars and stock market's activists, though several evidences are available based on profitability of this type of strategies, much of them have been referred to American and European's stock markets. In current study, the act of these strategies will be examined in Tehran's stock exch...

saffron is one of the most valuable crops and the world's most expensive spice among the plants that suit the particular climates and latitudes with low water requirements, the strategic importance of high social and economic impacts in many producing countries such as afghanistan, that has this feature in particularly high and a special influence in the international market. due to these reaso...

credence goods market is one of the markets that the asymmetric information has transformed it to a missing market. those goods and services that the applicant cannot determine the exact amount of their expenses due to the asymmetric information are called credence goods. from the economists' perspective, transaction in a market where participants are ignorant about each other is a game wi...

The goal of this paper is to explore the usefulness of patent citations as a means to tackle the huge heterogeneity of patented innovations in determining the stock market value of firms, and to further validate the informational content of patent citations in terms of economic impact. This project was made possible by the creation of a comprehensive data file on patents and citations for 1963-...

In this paper we explore how (micro)economic theory can be used to analyze and model the exchange of information on the Web. More specifically, we try to explain why searchers for information engage in transactions on the Web. To this end we develop a formal model for markets, based on notions such as value and transaction. This model enables us to examine transactions on the information market...