This paper examines the combined influences of detrending and time aggregation on the measurement of business cycles. The approximate band- pass filter of Baxter and King (1999) performs relatively well in the sense that it retains the basic shape of disaggregate spectra and cospectra when...

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This paper assesses the use of information and communication technologies (ICTs) and their impact on the economic performance of small- and medium-scale enterprises (SMEs) of three East African countries: Kenya, Tanzania and Uganda. Findings of the paper suggest that the diffusion of ICT among...

Only recently, the subject of road pricing to reduce traffic congestion gained increasing importance in Europe. This paper uses a standard microeconomic approach to show that road user price charging to avoid traffic congestion is optimal from a society’s point of view as it improves economic...

An exposition of economic dynamics based on Lagrange multipliers without the use of utility or game theory.

Much of the existing auction literature treats auctions as running independently of one another, with each bidder choosing to participate in only one auction. However, in many online auctions, a number of substitutable goods are auctioned concurrently and bidders can bid on several auctions at...

We explain essentially all known discounted utility anomalies as artefacts of the optimizing behavior of an individual with a time- separable utility function, who perceives a good as a source of a stochastic consumption stream, and believes that she can wait for an optimal moment to buy or sell...

Auctions of government securities typically permit bidders to enter multiple price-quantity bids. Despite the widespread adoption of this institutional feature and its use by bidders, the motivations behind its use and its effects on auction outcomes are not well understood theoretically and...

In economics, adjustment of behavior has traditionally been treated as a "black box." Recent approaches that focus on learning behavior try to model, test, and simulate specific adjustment mechanisms in specific environments (mostly in games). Results often critically depend on distinctive...

In this note we derive expressions for the Morishima elasticity of substitution for a multiple input and outputs profit function. These expressions may have important applications to empirical studies.