This paper develops an economic argument relating auctions to high market prices. At the core of the argument is the claim that market competition and bidding in an auction should be analyzed as part of one game, where the pricing strategies in the market subgame depend on the bidding strategies...

World agriculture is based on a small number of animal species and a decreasing number of breeds within each species. Several breeds of West African shorthorn cattle (Bos taurus brachyceros) are now at high risk of extinction due to interbreeding. The West African shorthorn breeds are...

The present essay is the second in a series of three papers which examine alternative approaches to inflation. Here we identify some of the principal criticisms expressed against neoclassical views on price behaviour and business behaviour. These challenges grew from the early discovery of...

Summary This contribution shows how the outcome of dynamic markets can be derived, without the unrealistic assumptions of a perfect market, from the current rules of a market and the possible behaviour of the actors. An analysis of the observable rules for real-life markets results in transfer...

Today´s derivative pricing base on stochastic models developed in the 70´s. These models base on some unrealistic assumptions. The system Warrant Pro 1 presented here combines the software agent PISA (Partially Intelligent Software Agent) and the neurosimulator FAUN (Fast Approximation with...

is a description of the paper and not the actual abstract. This paper analyzes how transfers among family members affect the behavior of transfer recipients in the market and how market prices reflect the presence of non-market transfers. Parental and spousal transfers are motivated both by...

Electricity markets are currently evolving to accommodate large scale penetration of wind generation. In this research, potential changes to the classification and role of windgenerators in the Single Electricity Market (SEM), the market for Northern Ireland and the Republic of Ireland, are...

Unter die Kategorie der Marktrisiken einer bestimmten Finanzposition subsumieren wir allgemein alle Risiken, die aus der Veränderung des Marktpreises dieser Position über eine bestimmte Zeitperiode resultieren. Die Finanzposition kann dabei ein einzelner Finanztitel, eine Klasse von...

»Die Neunziger Jahre werden sich zum Jahrzehnt der Finanz-Derivate entwikkeln.«1 Diese Feststellung des Generaldirektors des Schweizerischen Bankvereins,Ulrich Leber, gibt Anlaß zu der Frage, ob die Kreditinstitute auch die mit derEmission derivativer Finanztitel verbundenen Risiken im Griff...

Access to mobile phone has increased substantially over the last decade in sub-Saharan Africa. The evidence suggests that increased use of mobile phones in the region has upgraded the market prices received by producers for their cash crops, but so far there is limited knowledge on labour market...