The present paper deals with the learnability of indexed families L of uniformly recursive languages from positive data. We consider the in uence of three monotonicity demands and their dual counterparts to the e ciency of the learning process. The e ciency of learning is measured in dependence on the number of mind changes a learning algorithm is allowed to perform. The three notions of (dual)...

This paper shows how the interaction between decentralized information gathering and discreteness of investment decisions at the individual level can generate random fluctuations in aggregate investment that involve occasionally large allocation errors. This interaction is illustrated in a model in which private information is costly to acquire and prices reveal information. The unique rational...

Due to the public good character of protective measures against natural disasters events, their allocation is very often in the realm of bureaucratic and expert agencies. Based on the economic theory of bureaucracy the behavior of a bureau providing the good ”protection against natural hazards” is analysed. The existing model is extended by further institutional constraints accounting for socie...

Size-discovery trade mechanisms allow large quantities of an asset to be exchanged at a price that does not respond to price pressure. Primary examples include “workup” in Treasury markets, “matching sessions” in corporate bond and CDS markets, and blocktrading “dark pools” in equity markets. By freezing the execution price and giving up on market-clearing, size-discovery mechanisms overcome co...

Laboratory experiments employing an induced-values methodology report on allocative efficiencies observed. That methodology requires experimenters know subjects’ motivations, impossible in field experiments. Allocative efficiency implies a hypothetical costless aftermarket would be inactive. An allocation mechanism’s outcome is defined to be behaviorally efficient if an appropriate aftermarket ...

Penelitian ini bertujuan untuk mengetahui pengaruh Intellectual Capital (IC) terhadap Technical, Allocative dan Cost Efficiencies perbankan di Indonesia yang terdaftar Bursa Efek periode 2015-2019 dengan Rasio Kecukupan Modal, Tingkat Diversifikasi Pendapatan Bank, Ukuran Bank sebagai variabel kontrol. Penggunaan metode Purposive Sampling dalamipemilihan sampel menghasilkan terdiri dari 36 2015...

Traditional DEA models deal with measurements of relative eciency ofDMUs regarding multiple - inputs VS. multiple-outputs. One of the drawbacksof these model is the neglect of intermediate products or linkong activities. Af-ter pointing out needs for inclusion of them to DEA models. We propose hybridmodel that can deal with intermediate products formally using this model wecan evaluate division...

We consider a model of bribery in an asymmetric procurement auction. In return for a bribe from the dishonest supplier, the auctioneer has the discretion to allow this supplier to revise his bid downward to match the low bid of the honest supplier. The dishonest supplier can also win the contract outright without paying a bribe by bidding below the honest supplier. We investigate the effect of ...

This research analyses the efficiency of China’s banks using the data envelopment analysis (DEA). The Chinese government began its reforms of the banking industry reform since 1978. Our data set contains twelve banks in China during the period of 1996 to 2003. All nominal variables are transformed into real variables in the 2003 prices. There are twelve banks including four state-owned speciali...