background public district hospitals (pdhs) in tunisia are not operating at full plant capacity and underutilize their operating budget.   methods individual pdhs capacity utilization (cu) is measured for 2000 and 2010 using dual data envelopment analysis (dea) approach with shadow prices input and output restrictions. the cu is estimated for 101 of 105 pdh in 2000 and 94 of 105 pdh in 2010.   ...

A shadow price is a process S̃ lying within the bid/ask prices S, S of a market with proportional transaction costs, such that maximizing expected utility from consumption in the frictionless market with price process S̃ leads to the same maximal utility as in the original market with transaction costs. For finite Ω, this note provides an elementary proof for the existence of such a shadow price.

A shadow price is a process S̃ lying within the bid/ask prices S, S of a market with proportional transaction costs, such that maximizing expected utility from consumption in the frictionless market with price process S̃ leads to the same maximal utility as in the original market with transaction costs. For finite probability spaces, this note provides an elementary proof for the existence of suc...

This document contains additional results for the paper “The Macroeconomics of Shadow Banking.” These results include robustness to alternative parameter values, evidence on the composition of the liquidity supply over the 2003–2015 cycle, and extensions for analyzing liquidity requirements and equity issuance costs. ∗Yale University School of Management, [email protected]. †New York Univer...

Focus is here on coalitional games among economic agents plagued by aggregate pollutions of diverse sorts. Defecting players presumably pollute more than others. Then, granted convex preferences and technologies, the core is proven nonempty. In fact, under natural assumptions, a specific, computable core solution comes in terms of shadow prices on the said aggregates. Such prices may, in large ...

We analyze the life cycle consumption choice model for multiple goods, focusing on the distinction between durables and perishables. As an approximation of the fact that rather high transaction costs and market imperfections prevail inmarkets for used durables, we assume that investment in durables is irreversible. In contrast to the additive model with one perishable good, the optimal consumpt...