economic theory points to grave inefficiencies resulting from externalities. We study a restaurant setting in which groups of diners are faced with different ways of paying the bill. The two main manipulations are splitting the bill between the diners and having each pay individually. We find that subjects consume more when the cost is split, resulting in a substantial loss of efficiency. Diners prefer the individual pay to the inefficient split-bill method. When forced to play according to a less preferred
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The Developing Economies, XLI-4 (December 2003): 401–35 401 EFFECTS OF THE REAL EXCHANGE RATE ON OUTPUT AND INFLATION: EVIDENCE FROM TURKEY HAKAN BERUMENT MEHMET PASAOGULLARI This paper assesses the effects of real depreciation on the economic performance of Turkey by considering quarterly data from 1987:I to 2001:III. The empirical evidence suggests that, contrary to classical wisdom, the real depreciations are contractionary, even when external factors like world interest rates, international
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New York University. This paper is adapted and updated from E. Altman, “Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy,” Journal of Finance, September 1968; and E. Altman, R. Haldeman and P. Narayanan, “Zeta Analysis: A New Model to Identify Bankruptcy Risk of Corporations,” Journal of Banking & Finance, 1, 1977. Predicting Financial Distress of Companies: Revisiting the Z-Score and ZETA® Models Background This paper discusses two of the venerable models for
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people, and thus students as well, sometimes fail to do a good job at making choices because of self-control problems (Thaler and Sunstein, 2003). For example; they invest too little effort in their education because they value present consumption more than future consumption, have time- inconsistent preferences or underestimate the return on education (Gneezy et al., 2011). As some students tend to procrastinate studying and skip classes, some kind of paternalism might be helpful to reduce this
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to analyze any IT project success. Practical implications – The findings can be used to guide management teams in emphasizing control of the important variables in implementing ERP that influence project success. Originality/value – The paper provides a large sample set which empirically reviews major ERP implementations and their success perception. In addition, it begins to explore the
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Journal of Economics and Sustainable Development ISSN 2222-1700 (Paper) ISSN 2222-2855 (Online) Vol.4, No.10, 2013 www.iiste.org An Evaluation and Forecast of the Impact of Foreign Direct Investment in Nigeria’s Agriculture Sector in A VAR Environment Ayodeji Adetunji Idowu* Liu Ying Huazhong Agricultural University, No.1, Shizishan Street, Hongshan District, Wuhan, Hubei Province · 430070 · P.R. China * E-mail of the corresponding author: ayodeji.idowu@hotmail.com The research is financed
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tasks required in a typical two course undergraduate or masters level econometrics sequence. This version tries to do the same, but several enhancements have been made that will interest those teaching more advanced courses. I have come to appreciate the power and usefulness of gretl’s powerful scripting language, now called hansl. Hansl is powerful enough to do some serious computing, but simple enough for novices to learn. In this version of the book, you will find more information about writing
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and not everything that can be counted counts.’ Albert Einstein The words ‘test’ and ‘measurement’, as used in psychology, are misleading because of the implied similarity to scientific measurements and medical tests. Conventional psychological testing is quite different from scientific measurements in natural sciences. What is accomplished by the application of psychological measurement is an estimation of a psychological construct. Psychological tests and measurements of personality, intelligence
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BANGLADESH ECONOMY MD. SHARIF HOSSAIN (PH. D.)1 - KHND. MD. MOSTAFA KAMAL2 Abstract In this paper the principal purpose has been made to investigate the causal relationship between stock market development and economic growth in Bangladesh. To investigate long-run causal linkages between stock market development and economic growth the Engle-Granger causality and ML tests are applied. In this paper another attempt has been made to investigate the non-stationarity in the series of stock market
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------------------------------------------------- Top of Form Relationship between broken homes and academic achievement of secondary school students in Oredo Local Government Area of Edo State, Nigeria. Full Text: The study investigated the relationship between broken homes and academic achievement of students. Three research hypotheses were formulated to guide the study. The study was correlational because the study sought to establish the extent of relationship between broken homes and academic
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