The Efficient-Market Hypothesis (EMH) asserts that efficient markets are informationally efficient or all information (market, public or private) should reflect on stock prices. No one could earn excess profit using any kind of information in efficient market. There are three forms of efficiency...

We use structural methods to assess equilibrium models of bidding with data from first-price auction experiments. We identify conditions to test the Nash equilibrium models for homogenous and for heterogeneous constant relative risk aversion when bidders private valuations are independent and...

A short-run demand model for residential electricity is estimated for households served by the Rural Electric Cooperatives using data from the 1997 Family Income and Expenditure Survey. The results support earlier findings that the short-run residential demand for electricity is income and price...