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While most empirical analysis of prediction markets treats prices of binary options as predictions of the probability of future events, Manski (2004) has recently argued that there is little existing theory supporting this practice. We provide relevant analytic foundations, describing sufficient...
Persistent link: https://www.econbiz.de/10003310964
Persistent link: https://www.econbiz.de/10001833591
Nuclear meltdown in Japan and civil society strife across the Middle East highlight the degree to which resilience is core to international peace and security. This article considers the means by which communities can become increasingly resilient through shared best practices across a range of...
Persistent link: https://www.econbiz.de/10014175504
Independent of the left-right model of ideological structure, genetically modified organisms (GMOs) in food and agriculture are resented across the political spectrum in Switzerland. In the absence of any real experience with genetically modified (GM) food but faced with continuous exposure to...
Persistent link: https://www.econbiz.de/10014177192
Public participation ranging from information sharing to decision-making remains central to equitable and effective water management. Involving directly and indirectly affected individuals in decision-making facilitates trust and can establish partnerships. It also helps ensure that vital...
Persistent link: https://www.econbiz.de/10014186515
Buying frenzies in which a fi rm intentionally undersupplies a product during its initial launch phase are a common practice within several industries such as electronics (cell phones, video games, game consoles), luxury cars, and fashion goods. We develop a dynamic model of buying frenzies that...
Persistent link: https://www.econbiz.de/10014040192
This article analyzes how cooperative federalism and inclusive decision-making can provide legitimacy and transparency when balancing property rights versus police powers to regulate natural gas production
Persistent link: https://www.econbiz.de/10014040732
This Article considers the advantages and disadvantages of market-based program design, natural gas regulation, and enhanced international understanding. Transitioning to a green economy involves dedicating efforts towards environmentally sound energy innovation. RGGI, natural gas, and climate...
Persistent link: https://www.econbiz.de/10014043092
Climate resilient communities can be achieved with the support of global research, development, deployment, and diffusion of environmentally sound low GHG emission technologies and processes. Technology cooperation should lower emissions remaining mindful of biodiversity, ecosystem services and...
Persistent link: https://www.econbiz.de/10014045386
We study the implications of overconfidence for price setting in a monopolistic competition setup with incomplete information. Our price-setters overestimate their abilities to infer aggregate shocks from private signals. The fraction of uninformed firms is endogenous; firms can obtain...
Persistent link: https://www.econbiz.de/10014048892