The essentiality of money is commonly justified on effi ciency grounds. In this paper, we propose an alternative view on the essentiality of money. We consider an economy with limited monitoring where agents have to coordinate on the use of two alternative technologies of exchange, money and credit. We show that although credit strictly dominates money from an effi ciency perspective, money is ...

The infl uence of CP content and ingredient complexity, feed form, and duration of feeding of the Phase I diets on growth performance and total tract apparent digestibility (TTAD) of energy and nutrients was studied in Iberian pigs weaned at 28 d of age. There were 12 dietary treatments with 2 type of feeds (high-quality, HQ; and low-quality, LQ), 2 feed forms (pellets vs. mash), and 3 duration...

This paper examine the efficiency of microfinance institutions (MFIs) in WAEMU (West African Economic and Monetary Union). Using DEA (Data Envelopment Analysis), we calculate technical scores a sample 80 savings credit cooperatives 2014. We find higher levels for social efficacy than financial efficiency. The comparative analysis effectiveness according to country origin institution shows that ...

A novel heteroleptic Ru II complex (BTC-2) employing 5,5 ′ -(2,2 ′ -bipyridine4,4 ′ -diyl)bis (thiophene-2-carboxylic acid) (BTC) as the anchoring group and 4,4 ′ dinonyl-2,2 ′ -bipiridyl and two thiocyanates as ligands is prepared. The photovoltaic performance and device stability achieved with this sensitizer are compared to those of the Z-907 dye, which lacks the thiophene moieties. For thin...

One of the advantages of conduct parameter games is that they enable estimation of market power without total cost data. In line with this, we develop a conduct parameter based model to estimate the firm specific “implied cost effi ciency”and conduct without using total cost data. We use our methodology to estimate the conducts and marginal cost effi ciencies of U.S. airlines.

This note presents a random search and matching model with ex ante heterogeneity in worker productivity. A Social Planner with the power to prevent labor market participation by the least productive is shown to increase economic effi ciency. This is true even at the Hosios rule which, under worker homogeneity, implements the constrained effi cient allocation.

The feasibility of total petroleum hydrocarbon-contaminated (TPH) soil remediation was studied using persulfate oxidation. Factors tested included type of activator, persulfate concentration, number of persulfate applications, and reaction time. Probe chemicals were used to study effi ciency of the persulfate oxidation mechanism. The best activation method used Fe2+, which achieved 40.8% TPH de...

Purpose: to assess the effectiveness of carbon dioxide laser light in treatment benign skin neoplasms. Material and methods. The researchers have analyzed outcomes 1394 patients treated for In main group (n = 1184), photocoagulation (vaporization) photohydraulic preparation were applied. Laser surgical devices “Lancet-1” “Lancet-2” continuous pulsed modes, power up 20 W, focused beam 1 mm used....