I study expertise acquisition in a model of trading under asymmetric information. I propose and implement a method to measure r, the ratio of the marginal social value to the marginal private value of expertise. This can be decomposed into three sufficient statistics: traders’ average profits, the fraction of bad assets among traded assets and the elasticity of good assets traded with respect t...

one of main goals of urban officials is encouraging and promoting social participation among citizens. this is so, because both reduce costs and can be a base for self-fulfillment and empowerment among citizens. but, like other actions, measuring participative actions has some difficulties. the main difficulty is about measuring that part of social action which occurs in actor’s mind. this part...