The literature to date on the effect of demand uncertainty on public hospital costs and excess capacity has not taken into account the role of expense preference behaviour. Similarly, the research on expense preference behaviour has not taken demand uncertainty into account. In this paper, we...

We study competition between stock exchanges in a game where the wealth of individuals varies over time, creating liquidity and investment needs. On the basis of a profit-maximizing investment rule, participants must decide how to allocate their wealth between bank deposits and securities. In...

The measurement of environmental efficiency and the identification of its determinants are important in order to evaluate existing environmental policies and design new policies. Since the end of the 1980s, a large and growing literature has developed on the application of frontier techniques -...