This paper proposes an analytical formulation of discomfort in mass transit and discusses its micro-economic properties. The formula we introduce reflects real situations faced by the passengers, it has nice mathematical properties and it is easy to compute. The discomfort formulation is used to...

Calculating return periods and critical layers (i.e., multivariate quantile curves) in a multivariate environment is a di cult problem. A possible consistent theoretical framework for the calculation of the return period, in a multi-dimensional environment, is essentially based on the notion of...

We determine the events that cause large shocks in volatility of the DJIA index over the period 1928-2010, using intervention analysis and conditional heteroscedasticity model. We use a moving subsample window to take into account the periods with high or low volatility, allowing thus to...

L'air du temps est au "sans frontière" et à la croissance des échanges. Ainsi, à en croire les discours politico-économiques en vogue, l'échéance 1993 du grand marché unique européen devrait se traduire par une formidable augmentation des échanges entre les différents pays européens....

We study the economics of Bitcoin transaction fees in a simple static partial equilibrium model with the specificity that the system security is directly linked to the total computational power of miners. We show that any situation with a fixed fee is equivalent to another situation with a...

This paper aims to test the effect of smallholder farmers' participatory social learning on their gain of performance in a village of southwest China. By exploring a panel structure survey data collected in the village, we identify the social learning effect using a Spatial Autoregressive (SAR)...

Comme d'autres économies émergentes des BRIC, la Chine enregistre aujourd'hui un flux croissant d'investissements directs étrangers sortants (IDES) tout en maintenant une forte attractivité pour les investissements directs étrangers entrants (IDEE). Le développement accéléré récent de...

Oil nationalism cycle reflects the difficulties encountered by oil states, international oil companies (IOCs) and national oil companies (NOCs) in establishing order over and above the conflicts in upstream oil transaction. By drawing on transaction cost theory, this article identifies the...

In recent years the field of decision analysis has been heavily influenced by the "analytics'' perspective, which integrates advanced data-mining and learning methods, often associated with increasing access to "Big-Data", with decision support systems. This rapidly growing and very successful...

In cases where legislators represent districts that vary in population, the design of fair legislative voting rules requires an understanding of how the number of votes cast by a legislator is related to a measure of her influence over collective decisions. We provide three new characterizations...