Using modern panel cointegration estimation techniques, this paper examines whether tertiary student flows can effectively transmit technological knowledge from industrialized countries to African countries. The results obtained lend strong support to this hypothesis. In addition, this paper...

This paper studies a sales mechanism, prevalent in housing markets, where the seller does not reveal or commit to a reserve price but instead publicly announces an asking price. We show that the seller sets an asking price such that, in equilibrium, buyers of certain types would accept it with...

This study proposes a modeling approach to disentangle the discount due to flooding in residential properties that are located in coastal areas. The study makes three contributions. The first is to incorporate a continuous measure of flood risk in a study of coastal areas, as earlier studies...

This paper investigates the impact of two commonly used asking price strategies on house sales prices. In particular, we compare a dynamic asking price, where the seller adjusts her asking price over time as she fails to sell her property, with a static asking price, where the seller sets an...

This paper investigates the optimal environmental policy (the mix of emissions tax and R&D subsidy) when two firms, producing differentiated products, compete in the output market over time. Firms compete over supply schedules, which encompasses a continuum of market structures from Bertrand to...

The debate on electricity networks privatization in the Australian National Electricity Market is an important public policy concern but remains unsettled. This article reviews and compares the economic performance between the privately and state-owned electricity networks in Australia across...

Diversified and focused business models may affect foreign bank efficiency differently. We investigate whether there is an optimal business model along three business dimensions—assets, funding and income—and which business model is optimal for foreign banks in a financial center....

We consider productivity measurement based on radial DEA models with multiple constant inputs. We show that in this case the Malmquist and the Hicks- Moorsteen productivity indices coincide and are multiplicatively complete, the choice of orientation for the measurement of productivity change...