Nearly any standard financial model concludes that two assets with identical cash flows must sell for the same price. Alas, closed-end mutual fund company share prices seem to violate this fundamental tenant. Even when one considers several standard frictions, such as taxes and agency costs,...

Let M and N be the set of minimizers of a function f over respective subsets K and L of a lattice, with K being lower than L. This paper characterizes the class of functions f for which M is lower (resp., weakly lower, meet lower, join lower, chain lower) than N for all K lower than L. The...

En este trabajo se estudia la rentabilidad de la empresa agroalimentaria en Andalucía (España)mediante un conjunto de ratios, elaborados por el Instituto de Estadística de Andalucía a partir de la Central de Balances de Actividades Empresariales de Andalucía. El objeto es encontrar las...

The standard system is in balanced standard proportions, which permit growth without bottlenecks. This study estimates the standard system in the Indian Economy from the input-output tables prepared by the CSO, and use the standard proportions to identify sectors that are a bottleneck to 10%...

We work out technical efficiency levels of the Indian States and Union Territories using Data Envelopment Analysis from 1980-81 to 1997-98. We decompose net value added per worker growth into components attributable to technological changes (shifts in the overall production...

This paper analyses growth and convergence on sugarcane industry in southeast Asia countries. Important questions in this paper are whether the growth of sugar cane industry in Southeast Asia moves toward a convergence or divergence trend over time and to what extent the economic integration...

One of the difficult and frustrating aspects of teaching mathematics is getting students to think logically and develop an ability to prove theorems. Too frequently, students resort to what might be called "proof by example." A classic illustration of "proof by example" comes from years of...

In this paper I give a new proof of equilibrium existence in incomplete markets economies with a continuum of states.