Most of the research on transaction costs in the market microstructure literature focuses on implicit transaction costs. Research on the design of price schedules for explicit transaction fees is rare. This paper analyzes and classifies different price schedules and discusses their application to the market transaction business. The discussion highlights design issues and the need for a structu...

A fundamental assumption in this article is that not only the public administration but also semiprivate and private agencies provide electronic intermediaries between public services and citizens in a quasi-market situation. The theoretical framework of this study views markets as constructed in contrast to natural phenomena. In these processes of construction the role of technologies such as ...

During the past two decades financial systems world-wide have developed rapidly in terms of size, industry structure, and the range of products and services produced. In Australia the size of the financial system, measured by total assets, has approximately doubled relative to nominal GDP in the past twenty years, while in a number of other countries the growth has been even more dramatic. More...

A market orientation (MO) has long been an essential concept in marketing discipline. Advanced information technologies show a great potential for information acquisition, sharing, and dissemination, all of which are the essential processes of an MO. This paper proposes a framework of an Internet-mediated market orientation (IMO), in which the Internet functions as a transformer of the traditio...

We consider the existence of radially symmetric non-negative solutions for the boundary value problem -Au(x) = lf{u(x)) IMI < 1, x e RN{N > 2) u(x) = 0 ||*|| = 1 where X > 0, f(0) < 0 (non-positone), /' > 0 and / is superlinear. We establish existence of non-negative solutions for A small which extends some work of our previous paper on non-positone problems, where we considered the case N = \ ...

We analyze competition in product lines by multi-product oligopolists. The firms are assumed to have preferential access to a local market but can supply the rival’s market by incurring distance or product adaptation costs. We show that the width and degree of overlap in the product lines chosen by these firms is greater in large markets and when the products being offered are viewed by consume...

Normative legal systems have struggled to define international property rights. This struggle has been particularly intense in the area of intellectual property because the level of protection afforded to trademarked goods varies tremendously from nation to nation.1 Thus, international trade often leads to infringement of domestic property rights. The tension between the global mobility of good...

In a duopoly model of vertical differentiation, we study market equilibrium and the resulting social welfare following an increase in the consumer’s willingness to pay (WTP) for products sold by socially responsible manufacturers. Different types of such changes emerge depending on their effects on consumer heterogeneity. We show that, in most cases, increases in the consumers’ social conscious...

E xecutive compensation is a topic that has received attention both in the media and the academic literature. This article discusses issues relevant to the construction and interpretation of compensation …gures typically reported in both sources. First, it is not clear what precisely should be included within a measure of the chief executive o¢ cer’s (CEO’s) income tied to his …rm. Second, the ...