A coalitional procedure leading to a family of bankruptcy rules

We provide a general coalitional procedure that characterizes a family of rules for bankruptcy problems inspired by the Talmud.bankruptcy, coalitions, claims, Talmud.

The effect of international trade on mark-ups distribution

This paper presents empirical evidence about the relationship between market openness and markup distribution of manufacturing firms. The empirical analysis uses a panel data set of Spanish firms in the period 1990-2005, with a structural approach that lets us to identify individual mark-ups. The results point out that tougher competition associated to openness reduces the average of marginal costs and prices, while it increases the average firm size. However, the evidence about the effect on average markups and the dispersion of performance variables is weaker. These results partially support the theoretical predictions by the recent literature on efficiency heterogeneity and international trade and, in particular, Melitz and Ottaviano (2008).markups, marginal costs, size, openness

Markups, bargaining power and offshoring: an empirical assessment

This paper tests the pro-competitive effect of imports on product and labour markets for Spanish manufacturing firms in the period 1990-2005. In doing so, it takes into account the type of imported products: final vs intermediate. Markups are estimated following the procedure suggested by Roeger (1995) and including an efficient bargaining model. The observed heterogeneity among firms is parameterized to consider additional product standardization and market concentration. The results support the Imports as Market Discipline hypothesis for importers of final goods, while firms that offshore intermediate inputs show similar markups to non-importers. Additionally, the union bargaining power is smaller the more final-goods oriented imports are and the more homogeneous is the type of goods elaborated by firms.Markups, offshoring, bargaining power

On the non-local geometry of turbulence

A multi-scale methodology for the study of the non-local geometry of eddy structures in turbulence is developed. Starting from a given three-dimensional field, this consists of three main steps: extraction, characterization and classification of structures. The extraction step is done in two stages. First, a multi-scale decomposition based on the curvelet transform is applied to the full three-dimensional field, resulting in a finite set of component three-dimensional fields, one per scale. Second, by iso-contouring each component field at one or more iso-contour levels, a set of closed iso-surfaces is obtained that represents the structures at that scale. The characterization stage is based on the joint probability density function (p.d.f.), in terms of area coverage on each individual iso-surface, of two differential-geometry properties, the shape index and curvedness, plus the stretching parameter, a dimensionless global invariant of the surface. Taken together, this defines the geometrical signature of the iso-surface. The classification step is based on the construction of a finite set of parameters, obtained from algebraic functions of moments of the joint p.d.f. of each structure, that specify its location as a point in a multi-dimensional ‘feature space’. At each scale the set of points in feature space represents all structures at that scale, for the specified iso-contour value. This then allows the application, to the set, of clustering techniques that search for groups of structures with a common geometry. Results are presented of a first application of this technique to a passive scalar field obtained from 5123 direct numerical simulation of scalar mixing by forced, isotropic turbulence (Reλ = 265). These show transition, with decreasing scale, from blob-like structures in the larger scales to blob- and tube-like structures with small or moderate stretching in the inertial range of scales, and then toward tube and, predominantly, sheet-like structures with high level of stretching in the dissipation range of scales. Implications of these results for the dynamical behaviour of passive scalar stirring and mixing by turbulence are discussed

Presenting the SCL model: adding value to business strategy through UCD principles

This paper presents the Sustainable Consumption Leveraging (SCL) Model and its toolkit, which was developed to help businesses examine their potential for enabling sustainable consumption whilst identifying areas of opportunity to improve their business model and value proposition. The paper begins by establishing the contribution of business towards sustainable consumption and sets out user-centred design (UCD) principles as a valuable approach to leverage sustainable consumption. The relationship between UCD principles and sustainable consumption in a business context was studied through qualitative research. The findings of in-depth interviews with experts, a focus group and a document analysis led to the construction of a theoretical framework, which was used to develop the SCL Model and its toolkit

Voting over piece-wise linear tax methods

We analyze the problem of choosing the most appropriate method for apportioning taxes in a democracy. We consider a simple model of taxation and restrict our attention to piece- wise linear tax methods, which are almost ubiquitous in advanced democracies worldwide. In spite of facing an impossibility result saying that if we allow agents to vote for any piece-wise linear tax method no equilibrium exists, we show that if we limit the domain of admissible methods in a meaningful way, albeit not restrictive, an equilibrium does exist. We also show that, for such a domain, a wide variety of methods can be supported in equilibrium. This last result provides rationale for some activities of special interest groups.voting, taxes, majority, single crossing, special interest politics