The purpose of this paper is to characterize the impact of fraud detection systems on the auditing procedure and the equilibrium insurance contract, when a policyholder can report a loss that never occurred. Insurers can only detect fraudulent claims through a costly audit (costly state...

The study compares the performance of the Australian telecommunications services industry with those in other countries. Related papers submitted to this study by NECG Ltd. and Telecom New Zealand have been released with the report.

South Africa mostly depended on foreign suppliers for its defence needs up to the beginning of the 1960's. This situation changed dramatically with the implementation of various isolation measures and an international arms embargo in the early 1960's. This compulsory arms embargo on the import...

Tipping is a multi-billion-dollar phenomenon that standard economic models find hard to explain. I discuss several aspects of tipping and divide tipping to six different categories: reward-tipping, price- tipping, tipping-in-advance, bribery-tipping, holiday-tipping and gift- tipping, and...

Families with two or more adults have unadjusted incomes above the overall average because they have more potential earners. On the other hand, unattached individuals and lone parents have after-tax income averages just over half the overall average. Adjusting incomes to account for family size...

It is frequently claimed that the growth of e-commerce has created a more competitive environment. It is argued that lower production costs of online retailers encourages new entry in previously concentrated sectors, and a marked reduction in search costs and switching costs increase the...

When asymmetry or non-verifiability of information, or non- excludability of users, makes contracts incomplete or unenforceable, and where for these and other reasons there are impediments to efficient bargaining, we show that private contracting will not generally assign the control of assets...

This paper tests and confirms asymmetry in the Fiji gasoline price adjustment equations with respect to changes in the crude oil prices. More satisfactory specifications and estimation are used than in the earlier studies. It is found that two alternative approaches viz., the Granger two-step...

When market structure is complete, factor demands by households will be independent of their characteristics, and households will take their production decisions as if they were profit-maximizing firms. This observation constitutes the basis for one of the most popular empirical tests for...

Influenced by major tax reform in the early 1990s and by the exceptional boom in the stock market at the end of that decade, overall wealth in Swedish households increased. So did wealth inequality. The large baby- boom cohorts of the 1940s have been successful in accumulating wealth and they...