Stock exchange mergers : a dynamic correlation analysis on Euronext

This article investigates the role of Stock Exchange Mergers on stock market return co- movements. Using a dynamic conditional correlation model proposed by Engle (J Bus Econ Stat 20:339–350, 2002), the Euronext Stock Exchange was analyzed, and findings point to an increase in correlation levels of stock return among Euronext unitholders. In short, Euronext stock exchange mergers increased interdependency among these markets, which means that the possibility of diversifying investment risk in these markets is reduced.info:eu-repo/semantics/publishedVersio

Conflict and Uncertainty: A Dynamic Approach

Most of the conflict theory papers have used a one-shot game set-up. This does not correspond to reality and is certainly incapable of modeling real conflict situations. We propose a dynamic model with N-agents in an infinite time frame which allow us to adequately analyze conflicts. The dynamic aspects of the conflict come at least from two sources: first, the preferences on the good in dispute are not static; second, agentsin conflict can influence the future of the conflict by making investment in conflict's technology. We use a simple deterministic rule that defines the evolution of the subjective valuation for the good in dispute according to the results obtained by the agents in the recent past. During each period the realization of stochastic variables of the nature's states induces uncertainty in the game. The model is a theoretical approach that can be applied to evaluate the role of uncertainty and valuations' evolution on the optimal choices of forward-looking economic agents that seek to appropriate a share of a divisible resource.Conflict Theory, Dynamic Economic Model, Uncertainty

HEDONIC PRICE ESTIMATION FOR KANSAS WHEAT CHARACTERISTICS

A hedonic price model is applied to a cross-sectional time-series data set of Kansas wheat characteristics. Results indicate that prices received by wheat producers reflect the presence of conventional quality characteristics of wheat and also milling and dough characteristics. Furthermore, the results indicate that the alternative sets of characteristics exhibit quality information that is, to some degree, independent of one another. Important conclusions regarding the efficiency of current grading and pricing practices for wheat are drawn from this analysis.Crop Production/Industries,

Identities For Homogeneous Utility Functions

Using a homogeneous and continuous utility function that represents a household's preferences, this paper proves explicit identities between most of the different objects that arise from the utility maximization and the expenditure minimization problems. The paper also outlines the homogeneity properties of each object. Finally, we show explicit algebraic ways to go from the indirect utility function to the expenditure function and from the Marshallian demand to the Hicksian demand and vice versa, without the need of any other function, thus simplifying the integrability problem avoiding the use of differential equations.Identities, homogeneous utility functions and household theory.

Homoerotic Medievalism: Looking at Queer Desire in the Homosocial Relationships of Chaucer’s “The Knight’s Tale” and Fletcher and Shakespeare’s The Two Noble Kinsmen

The purpose of this thesis is to explore queer interiority within the heteronormative social constructions of late medieval England. Queer interiority is not an occurrence of modernity, but rather a response to social constructions that date back to the Middle Ages. It is essential to account for queerness in the Middle Ages because authors like Chaucer promote the successive resurfacing of queer characters within heteronormative social constructions. Writing during the queer reign of Richard II, Chaucer constructs the interior identities of Palamon and Arcite as a reflection of the king and the political norms of England. Inspired by Chaucer, authors in the early modern period, such as Fletcher and Shakespeare, explore the queer propositions of Chaucer and reimagine his stories by extending the characters’ queer potential. This phenomenon is known as medievalism, which encompasses the transformations and retellings of medieval cultural productions in post-medieval periods. Queerness in medieval and early modern literature occurs through desire, nominally, same-sex relationships; it exists in the mimicked normative relationship constructions of same-sex characters. To access queer desire, Lacanian psychoanalysis explains the signification of language in romantic discourse. His theories do not apply solely to heterosexual relationships, but also the “inversions” (as Freud would name it) that exist when two characters of the same sex desire one another. Through close readings of Geoffrey Chaucer\u27s “The Knight\u27s Tale” and John Fletcher and William Shakespeare\u27s The Two Noble Kinsmen, as well as historical, psychoanalytic, theoretical, and analytical texts, this paper will account for queerness in medievalism

Sustainable Landscape Management. An Analysis with a Scientific and Social Perspective. Review

Context: The negative effects of climate change and the food production systems, based on an ever-growing, intensive, and unsustainable manner, are threatening the stability of landscapes, and therefore, their components, including humans. The implementation of land sustainable management offers a set of social and ecological benefits. However, it is mostly applied to very small spaces, as an agroecosystem. Aim: To analyze the need for land sustainable management practice scaling of landscapes as a geographic space category, using a scientific approach. Method: Documentary review was used along with the integration of land sustainable management approaches, and the need for landscape scaling, including other sustainability approaches, such as agroecology. Results: The study found a theoretical gap in terms of land sustainable management practice scaling of landscapes as a geographic space category. The need for scaling is mainly explained by the fact that the extent of social and ecological problems goes beyond smaller spaces, such as a farm or an agroecosystem. Conclusions: Landscape is an intrinsic part of cultural identity and heritage with high natural and anthropic values that must be highly regarded. The scaling of land sustainable management practices into the landscape is a necessity. The natural, economic, and social problems associated with land use must be addressed beyond the boundaries of a single agroecosystem

Potential of Geographic Information Systems to Create a Municipal Environmental Model

Geographic information systems are used internationally to acquire information about the characteristics of the global surface and digitalize it to facilitate georeferencing, statistical analysis, virtual scenarios and mitigation of disasters. In Cuba, they are inserted in the design of Environmental Models, along with other applications. The aim of this paper was to demonstrate the potential offered by Geographic Information Systems to establish an Environmental Model in the municipality of Camaguey, based on previous studies made in other municipalities of Cuba. Moreover, the main elements supporting this study were defined. This paper also deals with the different stages of Environmental Modeling, and how the Geographic Information Systems are included, based on the views from different researchers and specialists. 

Does Debt Matter? Empirical Analysis of Sovereign Debt Default

Sovereign debt default can have significant economic, social, and reputational costs. For this reason, policy makers across the globe are constantly trying to balance fiscal policy and economic growth. Many of them, however, are still unable to do so and fall into sovereign debt default. This research paper looks at 52 sample countries from 1980 to 2018 and examines whether sovereign debt default can be explained by the gap between GDP growth and interest rates and/or debt-to-GDP levels. Through a series of empirical analysis, I find that if GDP growth is higher than interest rates, risk of default is typically reduced in sample countries. Moreover, I also find that increases in debt to GDP are positively correlated to risk of default

Helping the Helpers: Altruism As A Rational Choice of Donors to A Students Voluntary Organization

Altruism, understood as the individual disposition to sacrifice personal income to improve someone else´s income can be a rational choice strategy which responds to different motivations, incentives and institutions, in a consistent way with the donor´s optimization logic. In this article we extend the Andreoni and Miller´s experimental design (2002) using a modified Dictator game and we applied it to 470 students from several universities and different majors, years of study and level of income who can donate part of their income to the Bella Flor Foundation (http://www.bellaflor.org/), a real nonprofit organization founded by a group of college students whose mission is to promote the integral development of the children from Bella Flor, Paraíso and Mirador neighborhoods through social activities in education, health care, recreation, and exalting human values". We test the consistency of the player´s decisions with the axioms of revealed preferences, and with the effects of relative prices and income. We also evaluate the violation of consistency of the axioms and estimate the demand functions for altruism towards this charity, with policy implications related to the optimal design for fundraising strategies. Our results confirm that a significant fraction of individuals show consistent decisions, i.e. that donations to these charities behave as "normal goods" in price and income effects and with rather small number of violations of the axioms of revealed preferences. However, the experimental data suggests that revealing the identity of the donor can decrease altruism and induce more violations of the axioms of consistent behavior mentioned."altruism, experimental economics, consistency, GARP, Charity, dictator game, Bella Flor.

Discurso de clausura del seminario “Haití : experiencias de un desafío y lecciones aprendidas”

Discurso pronunciado por el Comandante en Jefe del Ejército, General de Ejército Juan Emilio Cheyre Espinosa, el día 14 de julio de 2004, en la Academia de Guerra