This study empirically investigates the possible link between financial development and international agricultural trade using binomial models of the gravity equations. Financial development is measured by a constructed financial reforms index. The results provide some evidence on the positive impacts of financial reform on agricultural exports. The results further indicate that countries with ...

In this note we show that the profitability of merger in markets with quantity competition does not only depend on cost conditions but also on the market structure and on the involved firms’ ‘strategic power.’ Our main result is that bilateral merger can be profitable even if costs are linear – but only in the case of a ‘strong’ firm incorporating a ‘weak’ firm which has adverse effects on welf...

In this communication we perform an analysis of European science, investigating the way countries are joined in clusters according to their similarity. An extremely clear pattern arises, suggesting that geographical and cultural factors strongly influence the scientific fabric of these countries. Although it is seen that one of the major factors behind Science in Europe is, apparently, geograph...

We have obtained a new summation formula for 2 ψ 2 bilateral basic hypergeometric series by the method of parameter augmentation and demonstrated its various uses leading to some development of etafunctions, q-gamma, and q-beta function identities.

In a bilateral bargaining problem with private values, Hagerty and Rogerson (1987) showed that essentially all dominant strategy incentive compatible, ex post individually rational, and budget balanced mechanisms are posted-price mechanisms, where a price is drawn from a distribution, and trade occurs if both players benefit from trading at this price. We relax budget balancedness to feasibilit...

Fluctuating asymmetry refers to small random deviations from perfect symmetry in bilaterally paired structures; it is thought to reflect an organism’s ability to cope with genetic and environmental stress during development and its utility as an indicator of such stresses is based on the assumption that perfect symmetry is an a priori expectation for the ideal state of bilateral structures. Flu...