We show that every (random) assignment/allocation without transfers can be considered as a market outcome with personalized prices and an equal income. One can thus evaluate an assignment by investigating the prices and the induced opportunity sets. When prices are proportional across agents, the assignment is e¢ cient; when prices are common, the assignment is both e¢ cient and envy-free. More...

Optimal crop choice and fertilizer applications depend on the stochastic dynamics of commodity prices, fertilizer prices, and the agronomic e↵ects of rotation versus monoculture. The e cient decision rule accounts for real option values associated with maintaining land disposition in an environment with highly uncertain future prices and irreversible past planting decisions. We parameterize a b...

the impact of price changes (at a level of market) on the other market levels (transfer of prices) will affect welfare of producers, marketing agents as well as consumers. in this study, asymmetric tea market is investigated through an application of johansen co-integration analysis and error correction model (ecm model) to time series of 1976-2009. co integration method used in the import mark...

As with any other companies, liquid fertilizer companies need to keep its market share increases in order to remain competitive in this global economy. Although the demand of liquid fertilizer is quite high, some liquid fertilizer companies are failed to increase their market share. One of the causes is their inability to predict market demand. This paper aims to propose a model using system dy...

We review evidence that investors make systematic errors, and that psychological biases a ect market prices. We argue that it is likely that mispricing causes substantial misallocation of resources and ineÆcient risk sharing. However, imperfect rationality of asset markets is not a free license for government to try to correct market mispricing ex post. There is no reason to think that regulato...

Rice production in most of Asian countries has been increased more rapidly than population and this has been led to increase in supply and proportionately decrease in the real price of rice in world and domestic markets. Furthermore, together with growth in production and national gross income of the country per-capita income has been increased and also demand for rice at national and internati...

In behavioral economics, the "endowment effect" describes the robust finding that prices people are willing to accept (WTA) for a good exceed prices people are willing to pay (WTP) for the same good. The increase in WTA values is often explained by the sellers' negative hedonic response to losing their item. Recent studies, however, show that subtle cues may change participants' perspective, in...

In this paper, I study the nonparametric identification of a multidimensional adverse selection model. In particular, I consider the screening model of Rochet and Choné (1998), where products have multiple characteristics and consumers have private information about their multidimensional taste for these characteristics, and determine the data features and additional condition(s) that identify ...