This paper responds to the argument that while Fair Trade governance might increase short-term welfare, it reduces long-term development prospects by discouraging diversification and structural change. Even though it is agreed that lower value sectors, such as commodity agriculture, are unlikely...

The idea of road pricing as a function of congestion costs in the United Kingdom (U.K.) was put forward in a seminal report published by the U.K. Ministry of Transport in 1964. After 35 years, little has been done and the reasons behind this delay are mainly political, as the failure to...

The paper examines the influence of the real price of beer on violence-related injuries across the economic regions in England and Wales. The data are monthly frequency of violent-injury collected from a stratified sample of 58 National Health Service Emergency Departments 1995-2000. An...

This paper presents a model that considers the interface between marketing and production decisions in a channel of distribution of industrial goods comprised of a manufacturer and a distributor. The key issue investigated is the nature of the coordination within the channel in light of an...

The emergence, from the 1960s on, of a new spatial division of labor – with the old task-based division of labor within a firm taking on a spatial dimension, and comparative advantage increasingly shaping patterns of specialization by function/process as well as by sector/product – reflected...

The present article discusses the trade-offs between markets, organizations and networks in terms of the cognitive means and the values underlying them. It is claimed that the regulative ability of the market is inextricably bound up with the numerical codification of economic activity supported...

An agent-based artificial financial market (AFM) is used to study market efficiency and learning in the context of the Neo-Austrian economic paradigm. Efficiency is defined in terms of the “excess” profits associated with different trading strategies, where excess is defined relative to a...

Economic theory typically assumes the existence of few unobserved unpredictable stochastic disturbances, called structural shocks, driving the whole economy. Would the economy be representable as a very high dimensional stochastic vector process, those shocks would be the reduced rank innovation...

We study the topological properties of the multinetwork of commodity-specific trade relations among world countries over the 1992–2003 period, comparing them with those of the aggregate-trade network, known in the literature as the international-trade network (ITN). We show that link-weight...

A number of non-parametric estimators have been proposed to calculate average medical care costs in the presence of censoring. This paper assesses their performance both in terms of bias and efficiency under extreme conditions using a medical dataset which exhibits heavy censoring. The...