An Optimal Incentive System For Real Estate Agents

This article presents an alternative system for selling real estate. It overcomes the well-known deficiencies of the percentage commission system. In our system, the agent purchases the property from the seller and simultaneously receives a put option. The put option gives the agent the right to put the property back to the original owner. It is shown that this system has many of the desirable properties of a dealer system, while avoiding some of the problems that are inherent in that system.

Teaching Real-World Political Economy: Simulating a WTO Negotiation

If free trade is a no-brainer, why isn\u27t trade free? Students often express such sentiments at the conclusion of a typical international trade course, during which they have learned that free trade is optimal, but that countries continue to restrict trade substantially. This article describes a simulation of a round of trade liberalization under the auspices of the World Trade Organization (WTO). The simulation differs from others in the literature in that it represents a substantial component of the course, but it is not the course\u27s focal point. Because the simulation has proven beneficial to students, the article attempts to provide a blueprint that will enable other professors to implement the project with minimal start-up costs. © 2012 Copyright Taylor and Francis Group, LLC

An Optimal Incentive System For Real Estate Agents

This article presents an alternative system for selling real estate. It overcomes the well-known deficiencies of the percentage commission system. In our system, the agent purchases the property from the seller and simultaneously receives a put option. The put option gives the agent the right to put the property back to the original owner. It is shown that this system has many of the desirable properties of a dealer system, while avoiding some of the problems that are inherent in that system

An Optimal Incentive System for Real Estate Agents

This article presents an alternative system for selling real estate. It overcomes the well-known deficiencies of the percentage commission system. In our system, the agent purchases the property from the seller and simultaneously receives a put option. The put option gives the agent the right to put the property back to the original owner. It is shown that this system has many of the desirable properties of a dealer system, while avoiding some of the problems that are inherent in that system

Teaching Real-World Political Economy: Simulating a WTO Negotiation

If free trade is a no-brainer, why isn\u27t trade free? Students often express such sentiments at the conclusion of a typical international trade course, during which they have learned that free trade is optimal, but that countries continue to restrict trade substantially. This article describes a simulation of a round of trade liberalization under the auspices of the World Trade Organization (WTO). The simulation differs from others in the literature in that it represents a substantial component of the course, but it is not the course\u27s focal point. Because the simulation has proven beneficial to students, the article attempts to provide a blueprint that will enable other professors to implement the project with minimal start-up costs. © 2012 Copyright Taylor and Francis Group, LLC