The low-income credit union modelled in this paper is an institution with a particular form of contract designed to allow it to operate among agents that are excluded from using banks. Specifically credit unions deal with those potentially on the minimum income guarantee. The challenge facing...

An assessment is made of the efficiency of four UK high street bookmakers’ betting odds for the 2004 European football (soccer) championships, based on an analysis of match results data from 15 previous international tournaments. Pretournament probabilities for the outright winners of Euro...

We estimate a structural profit model for 956 matched pairs of US credit unions and commercial banks, using the results to examine how the subsidies associated with credit unions' income tax exemptions and non-profit status are allocated across various stakeholders. We find economically large...

This article develops a dynamic game-theoretic model of optimizing strategic behaviour by football teams. Teams choose continuously between defensive and attacking formations and between a non-violent and a violent playing style. Starting from the end of the match and working backwards, the...

This article develops a dynamic game-theoretic model of optimizing strategic behaviour by football teams. Teams choose continuously between defensive and attacking formations and between a non-violent and a violent playing style. Starting from the end of the match and working backwards, the...

Empirical applications of the Tullock contest model are rare, due in part to the non-observability of effort. This paper presents an application of the standard Tullock model in a setting where effort can be observed and explained. A simple contest model is used to predict levels of effort in...

This paper deals with an intertemporal model of optimization, which is based on multiple attribute utility functions (MUAT). The model assumes that consumers do not know a priori the optimal mixture of attributes which would maximize their utility from consumption. By using a MUAT lineal model,...