The development focus of the Doha Round emerged from a renewed spirit of responsibility for the challenges faced by poor countries and the perceived inequities generated by previous rounds of trade negotiations. This study presents an alternative way forward for the Doha Round based on principles of social justice and economic analysis.
I propose an intertemporal precautionary saving model in which the agent's labor income is subject to (possibly correlated) shocks with different degrees of persistence and volatility. However, he only observes his total income, not individual components. I show that partial observability of individual components of income gives rise to additional precautionary saving due to estimation risk, the error associated with estimating individual components of income. This additional precautionary saving is higher, when estimation risk is greater.
We study linguistic access in a mixed language context by integrating the Bilingual Interactive Activation model and the Language Differential Processing model. We show that highly proficient bilinguals, compared to less proficient bilinguals, activate phonological and semantic representations of the dominant as well as the non-dominant language, and engage in differential processing for different types of scripts (phonetic vs. logographic). For highly proficient bilinguals, language emphasis (Chinese vs.
This paper has three objectives. First, we develop an equilibrium pricing model in which consumers have incomplete information about both product qualities and prices. Specifically, manufacturers can use high prices to signal high quality to uninformed consumers. Furthermore, prices of any given brand can vary geographically across retail outlets. We show that previous models are special cases of our model. Specifically, the hedonic regression model assumes that consumers have full information about all product qualities and prices.
We argue that the root cause behind the recent corporate scandals associated with CEO pay is the technology bubble of the latter half of the 1990s. Far from rejecting the optimal incentive contracting theory of executive compensation, the recent evidence on executive pay can be reconciled with classical agency theory once one expands the framework to allow for speculative stock markets.
This paper develops a stochastic general equilibrium model for an oligopoly, in which all inventory constraint parameters are endogenously determined. We propose several systems of demand processes whose distributions are dunctions of all retailers' prices and all retailers' service levels. We proceed with the investigation of the equilibrium behavior of infinite-horizon models for industries facing this type of generalized competition, under demand uncertainty.
Previously we demonstrated a method, Quantized Surface Complementarity Diversity (QSCD), of defining molecular diversity by measuring shape and functional complementarity of molecules to a basis set of theoretical target surfaces [Wintner E.A. and Moallemi C.C., J. Med. Chem., 43 (2000) 1993]. In this paper we demonstrate a method of mapping actual protein pockets to the same basis set of theoretical target surfaces, thereby allowing categorization of protein pockets by their properties of shape and functionality.
We develop a protocol for optimizing dynamic behavior of a network of simple electronic components, such as a sensor network, an ad hoc network of mobile devices, or a network of communication switches. This protocol requires only local communication and simple computations which are distributed among devices. The protocol is scalable to large networks. As a motivating example, we discuss a problem involving optimization of power consumption, delay, and buffer overflow in a sensor network. Our approach builds on policy gradient methods for optimization of Markov decision processes.
Many Strategic Account Programs are disconnected from the firm's strategic objectives and market place realities. If the Strategic Account Program is not central to your company's strategy formulation and implementation processes, it will have difficulty securing active senior management sponsorship and support. The Strategic Account Program then degenerates into a sales program and salespeople have difficulty getting alignment and commitment from other company functions.