Performance analysis of mutual funds operating in the Indian markets are mostly dependent on ratio aproach involving methodologies suggested by Sharpe and Treynor. The present paper makes use of non-parametric endogenous benchmarking to evaluate the performance of 16 top performing sectoral...

We study the influence of the financial market on the decisions of firms in the real market. To that end, we present a model in which the shareholders portfolio selection of assets and the decisions of the publicly-traded firms are integrated through the market process. Financial access alters...

This paper reports on the first randomized evaluation of the impact of introducing the standard microcredit group-based lending product in a new market. In 2005, half of 104 slums in Hyderabad, India were randomly selected for opening of a branch of a particular microfinance institution...

Consumers often incur costs when switching from one product to another. Recently there has been renewed debate within the literature about whether these switching costs lead to higher prices. We build a theoretical model of dynamic competition and solve it analytically for a wide range of...

In this paper we provide a prototype Multi-Agent macroeconomic system where artificial agents' behavioral rules are calibrated using human behaviors. The artificial representation of humans, i.e. "molded'' avatars, derives from a two steps process. The first step consists in performing...

I analyze concurrent vs. sequential organizational decision-making where two agents first communicate then make decisions attempting to both adapt to their local conditions and coordinate with their partner. Sequential decision-making improves com- munication by allowing first movers to speak...

What is now called the judgment-based approach to entrepreneurship (JBA) has a rich pedigree in Austrian economics and continues to grow rapidly in that tradition as well as in various research fields in business and management. The JBA has also attracted some criticisms. Frédéric Sautet’s...

We evaluate stakeholderism in the context of one constituency—workers—by exploring a few key known contributors to workers’ economic disadvantage: concentration and monopsony in labor markets, weak collective action protections for workers, a declining minimum wage, and the harsh reality...

A fallacy lies at the core of modern antitrust. The ascendance of the consumer welfare standard is a story often told. Yet existing narratives overlook the pivotal role that output has played--and continues to play--in shaping the contemporary antitrust enterprise. That role has gone unnoticed...