In the recent article, Darwish and Odah (2010) develop a scheme that allows for identical replenishment cycles for all the retailers, in the context of a single vendor supplying a group of retailers under VMI partnership. This paper proposes an alternative replenishment scheme allowing for...

As a result of increased mobility patterns of workers, explaining labor flows and partitioning regions into local labor markets (LLMs) have become important economic issues. For the former, it is useful to understand jointly where individuals live and where they work. For the latter, such...

Urban and peri-urban vegetation is being considered for air pollution abatement. Appropriate plants with efficiency to adsorb and absorb air-pollutants are the prerequisite for green space development. The contributions of surface morphology towards plant’s ability to function as dust...

We analyze the problem of dilution leading to inefficient underinvestment caused by the adverse selection problem. We assume that the market obtains information about the firm over time, but that at each date the manger possesses better information about firm prospects than does the market. We...

In asymmetric information models of financial markets prices (imperfectly) reveal private information held by traders. Informed insiders thus have an incentive not only to trade less aggressively but also to trade in the quot;wrongquot; direction so as to quot;confusequot; the market and...

We construct a model of trading in a financial market with an insider who may or may not be informed about the fundamentals. Rational traders called followers possess part of the private information of the insider (which the market makers do not possess) and trade on this information. This...

We study competitive equilibria with moral hazard in economies with aggregate risk and where trading occurs with an incomplete set of financial assets. The main conclusion of the paper is that, contrary to the individual risk economies, moral hazard is compatible with trading in competitive...

Existing theory suggests that, in an unregulated market for corporate control, the level of takeovers is suboptimal because shareholders do not receive the full benefit from them. However, existing theory neglects that the threat of takeover may divert managerial effort from productive to...