Showing 1 - 10 of 120
Profitability, as measured by gross profits-to-assets, has roughly the same power as book-to-market predicting the cross-section of average returns. Profitable firms generate significantly higher average returns than unprofitable firms, despite having, on average, lower book-to-markets and...
Persistent link: https://www.econbiz.de/10012462711
In principle, a multiproduct firm can set separate prices for all possible bundled combinations of its products (i.e., "mixed bundling"). However, this is impractical for firms with more than a few products, because the number of prices increases exponentially with the number of products. In...
Persistent link: https://www.econbiz.de/10012464731
This paper develops a framework to analyze the relationship between the diffusion of new technologies and the decentralization decisions of firms. Centralized control relies on the information of the principal, which we equate with publicly available information. However, the manager can use her...
Persistent link: https://www.econbiz.de/10012466463
The relationship between economic growth and the environment is not well understood: we have only limited understanding of the basic science involved and very limited data. Because of these difficulties it is especially important to develop a series of relatively simple theoretical models that...
Persistent link: https://www.econbiz.de/10012469101
This paper discusses the likely evolution of the trade and environment issue in the World Trade Organization after the upcoming ministerial meeting in Singapore this December. It makes a number of points. Progress within the GATT/WTO on this issue looks likely to be slow and painfully...
Persistent link: https://www.econbiz.de/10012473066
We study a growth model with an environmental asset which is a source of utility and an input to consumption and production. The stock of this asset follows its own ecological dynamics, which are affected by economic activity. We study the implications of an approach to ranking sequences of...
Persistent link: https://www.econbiz.de/10012474520
A robust body of evidence shows that air pollution exposure is detrimental to health outcomes, often measured as deaths …, performance, and skills. This article reviews the economic research investigating the causal effects of pollution on "non … pollution can be more challenging to observe than formal health care encounters but may be more pervasive if they affect …
Persistent link: https://www.econbiz.de/10013172147
This paper develops an analytical model to quantify the costs and distributional effects of various fiscal options for allocating the (large) rents created under prospective cap-and-trade programs to reduce domestic, energy-related CO2 emissions. The trade-off between cost effectiveness and...
Persistent link: https://www.econbiz.de/10012462171
A pervasive problem in the literature on the health costs of pollution is that optimizing individuals may compensate … for increases in pollution by reducing their exposure to protect their health. This implies that estimates of the health … effects of pollution may vastly understate the full welfare effects of pollution, particularly for individuals most at risk …
Persistent link: https://www.econbiz.de/10012463709
For political, jurisdictional and technical reasons, environmental regulation of industrial pollution is often … incomplete: regulations apply to only a subset of facilities contributing to a pollution problem. Policymakers are increasingly …
Persistent link: https://www.econbiz.de/10012464226