... (Goetz and Shenoi 2008), the protection of intellectual property of firms and countries (Andrijcic and Horowitz 2006), the financial integrity of investment firms (Jolly 2008), andthe control of ... Technology and Policy Adoption, Combating Cybercrime, Privacy and Trust Information Risk andtheEconomicsof Security presents the latest research on theeconomics driving both the risks andthe solutions ... main safeguards in place, and concludes that there may be a need to reconsider some of them in view ofthe growing role of nonbanks andofthe global reach of risks in the electronic era Introduction...
... defines as the science ofthe True andofthe Good, the science ofthe Absolute, and understands in a non-formal sense Professor Stammler speaks readily of a monism ofthe social life, and accepts ... example, the legal regulation of private property in land, andthe existence of land differing in quality, and granted other conditions, then the fact of rent of land arises of necessity In this and ... the law of supply and demand Where there are differences of ability there is some kind of monopoly, and where there is monopoly, you cannot eliminate the influence ofthe relation of supply and...
... against them To the Ken Lays (the CEO of Enron) and Bernie Ebbers (the CEO of WorldCom) ofthe early years ofthe decade, we now add Bernie Madoff and a host of others (such as Allen Stanford and ... governor ofthe Central Bank of Ireland) I am indebted to Michael Greenberger, now professor of law at the University of Maryland and director ofthe Division of Trading and Markets ofthe Commodity ... Treasury at the behest ofthe “Committee to Save the World” had made the crises far worse than they otherwise would have been The policies showed a lack of understanding ofthe fundamentals of modern...
... “standardized,” and can be thought of as commodity markets with classic laws of supply and demand governing them These markets consist of many producers and many consumers, with the quality ofthe ... examination ofthe fundamental aspects ofthe oversight functions assigned to every company’s management andthe board of directors of a company In particular, the role ofthe subcommittees on a board and ... indicate the questionable nature of such transactions at the end ofthe third and fourth quarters in 1999, one of which was that Enron bought back five ofthe seven assets just after the close of the...
... between the prices of securities and their payoffs that are easily expressed in terms of state prices These relationships also allow the valuation of some securities on the basis ofthe prices of other ... stock, the price ofthe call, andthe price ofthe put at time t = as S0 , C, and P, respectively The payoffs ofthe call and put options at time T are, respectively, equal to (S − K)+ and (K − S)+ ... prospects in the same way, to use the same model with the same probabilities ofthe evolution ofthe economy, the dividend process, or the bankruptcy ofthe firms This is known as the symmetric...
... Nevertheless, the standard theoretical and empirical tools ofeconomics can inform both the positive andthe normative issues related to public policy toward entrepreneurs Public Policy andtheEconomics ... excellent health, and otherwise The figures reported in rows andof table indicate that one cannot reject the hypothesis that the mean values of both HEALTHY and MHEALTHY are the same for the two groups ... the consumers of these products Whatever the mechanism ofthe spillover, however, the consequence is the same: the firm invests below the social optimum in R&D After reviewing a wide variety of...
... andthe Stock Market 152 152 The Theory of Rational Expectations Formal Statement ofthe Theory 154 Rationale Behind the Theory 154 155 Implications of rhe Theory The Ef icient Market Hypothesis: ... at the Fed? 32 Why the Chairman ofthe Board of Governors Really Runs the Show 330 How Independent is the Fedl Inside the Fed 32 325 Board of Governors ofthe Federal Reserve System Inside the ... Questions and Problems Web Ref erences I 41 14 • 144 CHAPTER The Stock Market, the Theory of Rational Expectations, andthe Efficient Market Hypothesis 147 Computing the Price of Common Stock 147 The...
... cost of offenses, (2) the number of offenses andthe punishments meted out, (3) the number of offenses, arrests, and convictions andthe public expenditures on police and courts, (4) the number of ... of p andf On the other hand, an increase in the other component ofthe cost of apprehension and conviction, has no direct effect on the marginal cost of changing offenses with f and reduces the ... nplies, therefore, that andthe optimal rather than one ofthe 25 ofthe payment "by" offenders would not be received by the rest of society, and a net social loss would result The elasticity of the...
... tested, as part ofthe risk management process For example, consider the infrastructure of an organisation andthe implementation of a new IT system The choice of hardware and software are strategic ... from all the activities ofthe organisation Risk management enhances the understanding ofthe potential upside and downside ofthe factors that can affect an organisation It increases the probability ... supports the development and implementation ofthe strategy of an organisation It should methodically address all the risks associated with all ofthe activities ofthe organisation In all types of...
... confirms one ofthe most standard hypothesis on the microeconomy of transition: the adjustment and growth of enterprises require that they meet a growing demand for their goods and adjust to ... supply of credit Finally, the higher the co-ordinate on the f2 axis, e.g the more theenterprise is faced with financial limit, the higher the level of barter transactions andthe higher supply of ... rather some exogenous characteristics ofthe sample 14 These phenomena are generated in a model of soft budget constraint in Berglof and Roland (1994) 22 Enterprise Adjustment andthe Role of...
... leave in, and what to leave out of a model, requires a good understanding of both the processes being modeled andthe purpose ofthe model For instance, if the purpose ofthe model ofthe population ... flow of benefits from the good or asset Much ofthe focus ofthe property rights literature is on understanding the nature ofthe rights, who has them, andthe outcomes associated with these ... andthe horizontal axis, indicating that the MODELS, SYSTEMS, AND DYNAMICS 33 amount consumed over the program exactly equals the amount of cake at the beginning ofthe program The slope of the...
... businesses and academics in the nature and behavior ofthe financial At the core of this issue are questions about the type of financing need and receive at various stages of their growth, the nature of ... implications among these alternative of small business finance is a growing of small business finance For example, the impact ofthe U.S ofthe early 1990s andthe effect ofthe consolidation ofthe banking ... credit, and other sources of funds These data allow for tests of research regarding the cost and availability of different types of external finance and how the cost and availability vary with the...
... intentionally left blank Economicsandthe Challenge of Global Warming Economicsandthe Challenge of Global Warming is a balanced, rigorous, and comprehensive analysis ofthe role ofeconomics in confronting ... wrote ofthe inherent indestructibility ofthe soil,” but the Dust Bowl more than 100 years later laid that idea to rest In the seventeenth century, Grotius, the father ofthe freedom -of -the- seas ... horizon, the high degree of scientific and economic uncertainty (not unrelated to the centuries-long timescale), the scale ofthe damages that may arise, andthe global character ofthe challenge and...
... Evidence on the Validity ofthe Monetary Model 144 Contents xi The Dornbusch Model 149 8.1 The Building Blocks ofthe Model andthe Evolution Paths ofthe Exchange Rate andthe Price ... if the common currency is the euro, andthe exchange rates ofthe euro vis-à-vis the US dollar andthe British pound are available at €0.8788/$ and €1.4373/£ Then the cross rate refers to the ... absolute PPP andthe other is relative PPP The former studies the exchange rate for the two currencies in terms ofthe absolute prices for the same basket of goods in the two countries, andthe latter...
... Kinds of Money But all money is not the same money There is one money of gold, another of silver, another of brass, another of leather, and another of paper; and there is a difference in the glory ... measures of value, but mere instruments of exchange; and, as the value ofthe mutual money is determined, not by the demand and supply ofthe mutual money, but by the demand and supply ofthe precious ... favorers ofthe scheme, and they have ever since been distinguished by the name ofthe Land-Bank House "Men of estates andthe principal, merchants ofthe Province abhorred the project, and refused...