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  • Articles  (83)
  • Telecommunications  (44)
  • efficiency  (39)
  • Elsevier  (42)
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  • Economics  (83)
  • 1
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    Annals of operations research 97 (2000), S. 379-388 
    ISSN: 1572-9338
    Keywords: data envelopment analysis ; efficiency ; long-run ; short-run
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract The usual Data Envelopment Analysis (DEA) model for measuring the relative efficiency assumes that all plants belong to distinct firms superior to them. For firms with more than one plant, Koopmans proposes a procedure for deriving the short-run production frontier for each firm. Modifying his idea, a DEA model is constructed in this paper for measuring the short-run efficiency of each plant within a firm. Based on the theory of production economics that the long-run production frontier is an envelop super-imposed upon all short-run production frontiers, another DEA model is constructed to measure the long-run efficiency of every plant. The long-run efficiency is always smaller than or equal to the short-run efficiency. Consequently, it is possible that an inefficient plant can only be improved in the long-run. With the models constructed in this paper, a decision-maker is able to distinguish between what can be achieved in the short-run and what in the long-run. To clarify the idea, an example of Taiwan forests is adopted for illustration.
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  • 2
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    Journal of bioeconomics 2 (2000), S. 203-220 
    ISSN: 1573-6989
    Keywords: productivity ; efficiency ; hysteresis ; path dependency ; rationality ; market selection ; natural selection ; optimization
    Source: Springer Online Journal Archives 1860-2000
    Topics: Biology , Economics
    Notes: Abstract The paper investigates whether evolutionary selection, in nature or the market, ensures the survival of rational agents. It argues that once rationality appears, evolutionary selection can account for its diffusion—but cannot account for its appearance in the first place. This issue differs from the investigation of whether history matters. The issue of history or path-dependency focuses on whether evolutionary selection can favor the survival of the potentially most productive apparatus (in the biological or technological sense). To show this, the paper commences with the much-neglected difference between efficiency and productivity.
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  • 3
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    International tax and public finance 7 (2000), S. 209-240 
    ISSN: 1573-6970
    Keywords: tax reform ; tax burden ; efficiency ; equity ; redistribution ; Hungary ; transition
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The paper analyses the revenue-raising, distributional and incentive effects of the personal tax system in Hungary from the start of the transitional tax reforms of 1988 to 1998, and shows that the tax structure has converged to an almost linear form similar to the more heavily taxed EU countries. The 1998 pension reform has reversed a trend increase in average and marginal tax rates but marginal rates still appear too high for a country wishing to encourage growth and employment creation.
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  • 4
    ISSN: 1573-0735
    Keywords: banking ; production ; risk ; efficiency ; agency problems.
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract We present and estimate a model that shifts the focus of modeling production from the traditional assumptions of profit maximization and cost minimization to a more general assumption of managerial utility maximization that can incorporate risk incentives into the analysis of production and recover value-maximizing technologies. We implement the model using the almost ideal demand system. In addition, we use the model to measure efficiency in a more general way that can incorporate a concern for the market value of firms’ assets and equity and identify value-maximizing firms. This shift in focus bridges the gap between the risk incentives literature in banking that ignores the microeconomics of production and the production literature that ignores the relationship between production decisions and risk. Our estimation of the model for a sample of U.S. commercial banks illustrates that results obtained from our generalized model can differ significantly from those obtained from the standard profit-maximization model, which ignores risk.
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  • 5
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    Economic change & restructuring 33 (2000), S. 185-202 
    ISSN: 1574-0277
    Keywords: Bayesian inference ; efficiency ; Gibbs sampling ; productivity analysis ; technical change
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper uses Bayesian stochastic frontier methods to measure the productivity gap between Poland and Western countries that existed before the beginning of the main Polish economic reform. Using data for 20 Western economies, Poland and Yugoslavia (1980–1990) we estimate a translog stochastic frontier and make inference about individual efficiencies. Following the methodology proposed in our earlier work, we also decompose output growth into technical, efficiency and input changes and examine patterns of growth in the period under consideration.
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  • 6
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    Journal of productivity analysis 12 (1999), S. 211-231 
    ISSN: 1573-0441
    Keywords: DEA ; efficiency ; regulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Rewarding regulated firms based on their relative performance requires benchmarks that reflect how performance is affected by regulation. This paper demonstrates how parametric and nonparametric efficiency measures can be employed to produce benchmarks that account for the effects of regulation. We apply measurement techniques to an eleven-year panel of 20 U.S. interstate natural gas transmission companies and use our benchmarking measures to distinguish firms that perform well owing to a superior management of technology from firms that perform well owing to the effective management of the regulatory mechanism.
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  • 7
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    Journal of risk and uncertainty 18 (1999), S. 295-320 
    ISSN: 1573-0476
    Keywords: environmental regulation ; norms ; efficiency ; voter perceptions ; distribution ; information
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper reports the first detailed empirical examination of the effects of voter cost perceptions on demand for environmental risk regulations. Using a statewide random sample of Washington's electorate, I examine voting behavior for a proposed regulation of gasoline stations under varying cost and distributional assumptions. Results suggest normative concerns are as important in explaining support as are expected risk reduction benefits. These norms include making polluters pay, imposing larger burdens on polluters with higher ability to pay, and enforcing public property rights. In contrast, potential price increases as a result of regulation have negligible effects on voter support.
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  • 8
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    European journal of law and economics 8 (1999), S. 29-49 
    ISSN: 1572-9990
    Keywords: Tort ; causation ; efficiency
    Source: Springer Online Journal Archives 1860-2000
    Topics: Law , Economics
    Notes: Abstract This paper argues for a reorientation in our thinking concerning the relationship between causation and efficiency in the design of tort law. The main proposition is that efficiency theory has a significant but deferential role to play in understanding appropriate tort law rules in countries where a corrective justice purpose is fundamental to the tort system.
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  • 9
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    European journal of law and economics 8 (1999), S. 63-77 
    ISSN: 1572-9990
    Keywords: Telecommunications ; regulatory reform ; privatization ; innovation ; technology
    Source: Springer Online Journal Archives 1860-2000
    Topics: Law , Economics
    Notes: Abstract This paper assesses market liberalization in the telecommunications industry from a rent-seeking perspective. Our focus is on United States regulation, with corollary international developments that are spurring competition. The analysis which is general in approach, assesses pervasive government controls which have long shaped the nature of competition in the telecommunication sectors. We find that government has been a means for retarding competition and innovation in the telecommunications sector through the actions of rent-seeking agents. Rapid technological change, however, increasingly is rendering traditional government regulation obsolete. This change is spurring welfare-enhancing competition, regulatory reform, and privatization in the telecommunications sector.
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  • 10
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    Computational economics 13 (1999), S. 93-101 
    ISSN: 1572-9974
    Keywords: efficiency ; multivariate probit ; quasi maximum likelihood ; simulation
    Source: Springer Online Journal Archives 1860-2000
    Topics: Computer Science , Economics
    Notes: Abstract This paper discusses the most efficient estimator among Quasi Maximum Likelihood Estimators using at most two levels of numerical integration, for the multivariate probit model. Simulations show that this estimator is more efficient but not more costly than the second-best alternative. However, its added efficiency depends on the correlation structure.
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  • 11
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    Open economies review 10 (1999), S. 395-414 
    ISSN: 1573-708X
    Keywords: international tax competition ; capital controls ; tax cooperation ; endowments ; efficiency
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Tax competition between independent authorities is known to lead to inefficient outcomes, implying there is scope for cooperation. In an international framework where the authorities are national governments, the undesirable features of tax competition may alternatively be mitigated by imposing restrictions on international capital flows. Using a two-country model it is shown that capital controls may fully remedy the adverse effects of tax competition and thereby render tax cooperation superfluous. In more general cases, however, capital controls have some undesirable side-effects, leaving room for cooperative actions. Moreover, the mere option of imposing capital controls may promote the implementation of tax cooperation.
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  • 12
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    Review of industrial organization 14 (1999), S. 115-122 
    ISSN: 1573-7160
    Keywords: Antitrust ; competition ; anarchist ; efficiency
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Professor Barnes responds to William Curran's fictional dialogue between Senator John Sherman and philosopher John Rawls, with a fictional letter from Supreme Court Justice William O. Douglas. Professor Barnes discusses the importance of the anarcho-socialist movement of the late nineteenth century to the adoption of the Sherman Act, the historical and logical inevitability of adoption of a rule of reason in antitrust law, the relevance of efficiency to the rule of reason, and the relationship between competition and the promotion of democratic ideals.
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  • 13
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    Review of industrial organization 14 (1999), S. 377-390 
    ISSN: 1573-7160
    Keywords: Market power ; CAPM ; concentration ; efficiency ; entry barriers ; systematic risk
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract A number of studies have used the Capital Asset Pricing Model (CAPM) to integrate product market and financial theories of the firm. We reexamine the relationship between product market structure and systematic risk at the firm and industry level. We show that theory yields no testable implications at the firm level. We show, however, that there is a relationship between the intraindustry dispersion of systematic risk and industry concentration which depends on the causes and consequences of concentration. Estimates of the relationship between the intraindustry variance of β and concentration for a 1987 cross-section of U.S. industries suggest that concentration allows larger firms to exercise market power.
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  • 14
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    Journal of management & governance 3 (1999), S. 203-229 
    ISSN: 1572-963X
    Keywords: conjecture probabilities ; efficiency ; equilibrium strategies ; non-cooperative game ; subgame perfect ; takeovers
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Takeover and acquisition of corporations is awell-researched area and has been becomingincreasingly important. Much less research emphasishas been devoted to takeover activity within thegeneral area of financial services with thisparticularly the case for the building society sector. The building societies being mutual companies havespecial characteristics. The building societies andother financial mutuals like the corporations doencounter an acute agency problem. This opens up apotential application of Grossman and Hart theory oftakeovers bids as the individuals have option to freeride, securing knowledge that the regulatory processrenders their deposits de facto risk-free investment.This free-rider problem, like the corporations can beovercome by inducing hostile takeover. Some empirical studies of mergers activities withinthe building society sector have dealt with onlyintra-sectoral mergers. However, they have not lookedat inter-sectoral mergers and have not addressedefficiency issues in a general equilibrium frameworkusing game theory. In this paper I suggest a mechanism for merger at parwith sales of stocks of a corporation to organisebuilding societies' takeovers. I develop a two-stagegame between the members of building societies and theraider. Analysis of non-cooperative voting behaviourof members of Cheltenham and Gloucester buildingsociety shows that the actions of the members of thebuilding society may also give rise to less thanoptimal results as they may not be acting in their bestinterests. The members of the building society cangain if a hostile takeover is induced rather than afriendly takeover. The paper also examines the freerider problem and ex-ante efficiency in a generalequilibrium framework.
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  • 15
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    The journal of real estate finance and economics 18 (1999), S. 259-277 
    ISSN: 1573-045X
    Keywords: buyer brokerage ; efficiency ; incentives ; search ; externalities
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This article examines the incentive and efficiency implications of buyer brokerage. We show that it is possible to perfectly align the interests of the seller with those of his agent and the interests of the buyer with those of his agent. Furthermore, effort levels can be efficient. This result is a departure from earlier conclusions in the literature that the agent's effort level can neither be perfectly aligned with the principal's interests nor be efficient. The departure is primarily due to the feature of our model that it recognizes the costs as well as the benefits of an agent's effort to her principal, and vice versa. Finally, we discuss the implications of buyer brokerage for the future of MLS services.
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  • 16
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    Environmental and resource economics 14 (1999), S. 33-49 
    ISSN: 1573-1502
    Keywords: climate change ; emission reduction ; efficiency ; cost-effectiveness ; equity ; JEL classification: Q25, Q40
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract FUND is an integrated assessment model of the interactions between climate and economy. Nine world regions emit greenhouse gases, and suffer damages from climate change. A number of greenhouse gas emission reduction policies are compared, including optimal and cost-effective strategies, strategies with early and late abatement, and strategies with and without international co-operation. The analyses confirm that co-operation matters, resulting in substantially lower costs or higher welfare. The real commitments of policy targets based on an absolute level (e.g., 1990 emissions) are hard to estimate because of the uncertainties in the baseline. Postponing action conflicts with minimising costs and maximising welfare, but so does sharp emission reduction at the short-term as proposed in the Kyoto Protocol.
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  • 17
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    International journal of value-based management 11 (1998), S. 9-17 
    ISSN: 1572-8528
    Keywords: circadian ; flextime ; memory ; productivity ; time-of-day ; rhythm ; preference ; stress ; efficiency ; Zeitgeber
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Each human being has an internal timekeeping mechanism. To date, over 100 so-called ‘circadian’ rhythms have been detected. Perhaps the most significant is body temperature. There is an apparent connection between this rhythm and the efficiency with which we do things in the course of the working day. Within individuals, patterns have been discovered which give credence to the popular notions of a ‘morning’ or an ‘afternoon’ person, and so on. Our memory changes from morning to afternoon: short-term memory is stronger in the morning, and long-term memory stronger in the afternoon; in schools, ‘morning’ students have higher grades than students who have other time-of-day preferences. Therefore, a strong case can be made in support of flexible time schedules. It is reported that productivity went up on the introduction of such a scheme. Employee stress has been seen to decline also. When flextime was offered, parents with small children took advantage of the benefit as well as unmarried employees. The only drawback is ensuring that, with so many individual variations in preferences, the needs of the company are fully met. If such a scheme can be devised, however, the research suggests that productivity and efficiency will increase.
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  • 18
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    Review of quantitative finance and accounting 10 (1998), S. 21-37 
    ISSN: 1573-7179
    Keywords: Financial time series ; ARCH ; non-normality ; generalized method of moments ; optimal choice of instruments ; maximum likelihood ; efficiency
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper discusses how conditional heteroskedasticity models can be estimated efficiently without imposing strong distributional assumptions such as normality. Using the generalized method of moments (GMM) principle, we show that for a class of models with a symmetric conditional distribution, the GMM estimates obtained from the joint estimating equations corresponding to the conditional mean and variance of the model are efficient when the instruments are chosen optimally. A simple ARCH(1) model is used to illustrate the feasibility of the proposed estimation procedure.
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  • 19
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    Journal of economics 67 (1998), S. 17-38 
    ISSN: 1617-7134
    Keywords: environmental standard ; market structure ; abatement ; efficiency ; Q28 ; H23 ; D62
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The paper considers relative standards which limit the level of emissions per unit of output. The representative firm is characterized by a cost function describing the actual production process, a separate abatement technology, and the fact that (gross) emissions are proportional to output. At first, the implications of a relative standard and of its marginal change for a single firm are examined. It is shown that the standard cannot be replaced by a corresponding tax. Afterwards a positive analysis is performed for an industry consisting of identical firms under perfect competition. Comparative statics are used to analyze the impacts of changes in the relative standard in a short-run and long-run equilibrium. It turns out that the standard always possesses a price effect. Moreover the relevant factors which govern price, quantity, and profit changes are revealed. Then the paper characterizes the optimal standard for the same framework. A main result is that the first-best allocation can never be obtained by means of a relative standard, even if firms are identical. The influence of the demand and supply side on an optimal standard can be demonstrated since the underlying model is simple and transparent. The resulting market price is compared to social marginal costs. Finally the investigation is extended to monopoly and symmetric oligopoly.
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    Review of industrial organization 13 (1998), S. 467-486 
    ISSN: 1573-7160
    Keywords: Conservation programs ; strategic reactions ; efficiency
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper reviews the United States' experience with utility sponsored energy conservation programs. Such programs are central to the recent discussions about electric utility regulation in the United States and elsewhere. First it is shown that these programs are exposed to three problems on the consumers' side – rebound, adverse selection and moral hazard – which lower the effectiveness of conservation incentives and impede in most practical cases a reliable quantification of the achieved conservation. Moreover, the utilities have under the regulatory practice an incentive to invest in conservation measures but to limit factual conservation through a proper design of the program. Reviewing the recent literature shows that these four crucial points, which affect many of the applied conservation programs, are either insufficiently covered (rebound and adverse selection) or neglected entirely (moral hazard and regulated utilities' interest in little conservation). We conclude, that this undertaking has resulted in insignificant conservation and doubt the adequacy of these programs to reduce external social costs from energy use.
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  • 21
    ISSN: 1572-9338
    Keywords: Data Envelopment Analysis ; weights restrictions ; value judgements ; efficiency
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract This paper provides a review of the evolution, development and future research directions on the use of weights restrictions and value judgements in Data Envelopment Analysis. The paper argues that the incorporation of value judgements in DEA was motivated by applications of the method in real life organisations. The application driven development of the methods has led to a number of different approaches in the literature which have inevitably different uses and interpretations. The paper concentrates on the implications of weights restrictions on the efficiency, targets and peer comparators of inefficient Decision Making Units. The paper concludes with future research directions in the area of value judgements and weights restrictions.
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  • 22
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    Annals of operations research 73 (1997), S. 253-276 
    ISSN: 1572-9338
    Keywords: Data Envelopment Analysis ; game theory ; efficiency ; linear programming
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract Dominant Competitive Factors, unique solutions to a new class of two-person ratio efficiency games, are introduced as a means for distinguishing exceptional aspects of individual performance. The vectors of input-output multipliers thus obtained may be analyzed collectively so that commonalities within groups and differences across groups may be discovered. The method is applied to "Program Follow-Through", the original impetus for developing Data Envelopment Analysis. Our results are compared with those of the earlier study, whereupon substantial new insights are obtained.
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  • 23
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    Journal of productivity analysis 8 (1997), S. 461-475 
    ISSN: 1573-0441
    Keywords: Stochastic production frontiers ; technical change ; efficiency ; Turkey
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract Technical progress and production efficiency are central to economic growth and international competitiveness. However, these topics received little attention in Less Developed Countries. This study is the first attempt to measure and to understand the extent and importance of technical progress and efficiency in Turkish manufacturing industries. Stochastic production frontiers for Turkish textile, cement, and motor vehicles industries are estimated by using panel data of plants for the years 1987 to 1992. The rate and direction of technical change for each industry are estimated by introducing time-dependent variables in the production function. Sector-specific factors which influence technical efficiency of manufacturing plants are also identified.
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    Journal of economics 66 (1997), S. 23-34 
    ISSN: 1617-7134
    Keywords: curvature ; elasticity of substitution ; efficiency ; C60 ; D20 ; O40
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper demonstrates that, contrary to deeply rooted beliefs, there is no link between curvature and the elasticity of substitution. We show that there is no direct, nor inverse, relationship between the two concepts, if curvature of the isoquant is defined either in its strict mathematical sense or as the isoquant's second derivative. We finally suggest to view the elasticity of substitution as an efficiency parameter.
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    Review of industrial organization 12 (1997), S. 95-139 
    ISSN: 1573-7160
    Keywords: Bank ; merger ; efficiency ; profit ; price ; antitrust
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper examines the efficiency and price effects of mergers by applying a frontier profit function to data on bank ‘megamergers’. We find that merged banks experience a statistically significant 16 percentage point average increase in profit efficiency rank relative to other large banks. Most of the improvement is from increasing revenues, including a shift in outputs from securities to loans, a higher-valued product. Improvements were greatest for the banks with the lowest efficiencies prior to merging, who therefore had the greatest capacity for improvement. By comparison, the effects on profits from merger-related changes in prices were found to be very small.
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    Annals of operations research 67 (1996), S. 117-139 
    ISSN: 1572-9338
    Keywords: Reimbursement ; efficiency ; hypothesis ; cost pass-through ; hospitals ; data envelopment analysis ; non-discretionary factors
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract In both the private and public sectors, it is strongly believed that when goods and services are transferred at full cost, efficiency of operation is not encouraged. A cost pass-through payment mechanism, heavily used by the U.S. Federal Government prior to 1983 to reimburse hospitals for in-patient services, has been blamed for part of the annual double digit escalation in health care costs from 1965 to 1983. A cost pass-through formula is still in use for some types of outpatient care reimbursement (especially clinics and ancillary services); additionally retrospective reviews are still used to determine Medicare “outlier” payments under the present prospective system. Finally some private health care plans still utilize a mixed retrospective/prospective payment system. Hence, the issue is still very relevant to health care professionals. Unfortunately it has been difficult to settle this issue empirically since hospitals are characterized by the provision of multiple services, with no clear resource/product allocations; additionally different client mixes and other uncontrollable factors complicate the issue of measurement of efficiency. We provide some quantitative insights into this issue, using a new formal hypothesis testing procedure developed by Banker (1993) which uses asinputs the technical efficiency ratings from a Data Envelopment Analysis with non-discretionary factors (see Banker and Morey (1986)). The data set involved is for 105 North Carolina hospitals, operating in 1978 (before the era of prospective reimbursement); three distinct outputs, three controllable resources and six descriptors of the hospital (bed size, case mix, etc.) are available for each hospital. Additionally thepercent ofeach hospital's total reimbursement, generated utilizing the cost pass-through formula, was estimated. The hypotheses tested related generally to whether or not an inverse relationship existed between the hospital's inefficiency rating and the extent of its cost pass-through reimbursement. The data supports the widely held belief that hospitals with higher cost pass-through percent reimbursement indeed tended to be less efficient.
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    Environmental and resource economics 8 (1996), S. 351-366 
    ISSN: 1573-1502
    Keywords: efficiency ; futures markets ; natural resource management ; price stabilisation ; risk aversion
    Source: Springer Online Journal Archives 1860-2000
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract Markets for natural resource futures contracts and cash forward contracts experience a rapid growth. According to theory, this should result in more efficient resource depletion, implying that price formation is more consistent with Hotelling's rule. The rationale of this stabilization effect is briefly discussed. Next, we analyze the impact of expanding futures markets on the behaviour of individual resource owners trading on the cash market. Using a simple pulse extraction model, we demonstrate that the expected time of depletion can shift to the present or the future, and that utility of exploitation can go up or down, as market prices are stabilized.
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    Empirica 23 (1996), S. 229-253 
    ISSN: 1573-6911
    Keywords: Antimerger policy ; United States ; Europe ; efficiency ; L41 ; G34 ; L21
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract This paper reviews the history of US antimerger policy. This history is divided into three periods: a period in which there was almost no effective antimerger policy at all from 1890 up to 1959, a period of vigorous antimerger policy from 1950 up through 1973, and a period of lax enforcement from 1974 to the present. The paper accounts for these shifts in antimerger policy and discusses their effects. After reviewing the logic and consequences of US antimerger policy, a critique of its permises is offered, particularly as these premises apply to the recent era of lax enforcement. The paper closes with suggestions for an alternative approach to antimerger policy that is consistent with the empirical evidence on why mergers occur and their effects.
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    Annals of operations research 53 (1994), S. 175-197 
    ISSN: 1572-9338
    Keywords: Variance reduction ; simulation ; control variates ; importance sampling ; common random numbers ; stratification ; conditioning ; efficiency
    Source: Springer Online Journal Archives 1860-2000
    Topics: Mathematics , Economics
    Notes: Abstract This paper provides an overview of the five most commonly used statistical techniques for improving the efficiency of stochastic simulations: control variates, common random numbers, importance sampling, conditional Monte Carlo, and stratification. The paper also describes a mathematical framework for discussion of efficiency issues that quantifies the trade-off between lower variance and higher computational time per observation.
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    Journal of productivity analysis 5 (1994), S. 215-228 
    ISSN: 1573-0441
    Keywords: nonprofits ; volunteer labor ; donations ; efficiency
    Source: Springer Online Journal Archives 1860-2000
    Topics: Economics
    Notes: Abstract The purpose of this article is to explain the cross-sectional variation in money donations to charities at the organizational level. Using a unique data base which includes volunteer labor data, this article tests the hypotheses that money donations are positively related to volunteering and the technical efficiency of the firm. Technical efficiency is measured by a number of non-parametric indices. The empirical results indicateinter alia that the more technically efficient the charity, the more money donations it is able to raise. Moreoer, at least for one model, money donations and volunteering are found to be complementary at the organizational level. In addition, the results in this article are not consistent with the well-known hypothesis that government financing crowds out private donations.
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    Review of industrial organization 9 (1994), S. 379-392 
    ISSN: 1573-7160
    Keywords: Collusion ; efficiency
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    Topics: Economics
    Notes: Abstract Through the 1970s and 1980s, the U.S. portland cement industry experienced a significant increase in average plant size and market concentration. A simultaneous equation model is developed to examine the effects of plant size and concentration on costs, prices and margins in that industry. The results indicate the presence of significant scale economies, but also show that prices and margins are increasing in concentration. Further analysis shows that almost one third of the cost savings associated with larger plants are passed on to producers through higher margins resulting from concomitant increases in concentration, rather than to consumers as lower prices.
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    Review of industrial organization 9 (1994), S. 649-670 
    ISSN: 1573-7160
    Keywords: Mergers ; dominance ; authorization ; guidelines ; efficiency ; concentration
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    Topics: Economics
    Notes: Abstract Merger policy in Australia has been formulated for a small open economy. Tight merger control has been avoided in order not to impede rationalisation and improved international competitiveness. From 1977 to early 1993 a merger or acquisition was only prohibited if it would lead to a firm gaining a dominant position in a substantial market. As a result, few mergers were stopped and some which would probably have substantially lessened competition were allowed to proceed without detailed investigation. Since January 1993 a threshold test of substantial lessening of competition has applied — a reversion to the test included in the original 1974 Trade Practices Act. This is likely to mean that more proposed mergers will come under scrutiny and the trade-offs between efficiency gains and anti-competitive detriments will need to be evaluated in a greater number of individual cases. New draft merger guidelines released in November 1992 generally reflect contemporary thinking in industrial economics.
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    The journal of real estate finance and economics 8 (1994), S. 137-149 
    ISSN: 1573-045X
    Keywords: Agricultural land auctions ; subgame perfect equilibrium ; bid shading ; efficiency
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    Topics: Economics
    Notes: Abstract A unique feature of land auctions is that the same land is auctioned twice; first the land is broken into tracts and each tract is auctioned individually. Then, the tracts are reassembled and auctioned as a whole parcel. After the two auctions are completed, the seller chooses the one that generates a higher revenue. The main purpose of this paper is to provide an explanation of why such an auction design is employed to sell farmland. We also show that this feature of land auctions leads to interesting interaction among the bidding strategies of the players in each of the two auction stages.
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    Review of industrial organization 8 (1993), S. 49-61 
    ISSN: 1573-7160
    Keywords: Telecommunications ; productivity ; privatization
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    Topics: Economics
    Notes: Abstract The telecommunications industries in the United States and the United Kingdom have undergone massive changes during the 1980s. This paper decomposes the total factor productivity growth of AT&T and British Telecom into their various components. It finds that while a great deal of the productivity increases apparently resulted from continuing scale economies, competition for AT&T and privatization of BT have been responsible for 17 percent and 25 percent of their respective gains in recent years. Among other variables, divestiture appears to have initially depressed AT&T's productivity growth, and competition for BT is too insignificant to yet have an impact.
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    Environmental and resource economics 2 (1992), S. 615-634 
    ISSN: 1573-1502
    Keywords: Cleaner technologies ; environmental policy ; economic instruments ; efficiency ; innovation ; diffusion
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    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract This article identifies and analyzes factors that affect the willingness of firms and consumers to develop and adopt cleaner technologies. “Cleaner technologies” is used as a general term for pollution abatement technologies, re-use systems, and environmentally sound consumer products and materials. The article also contains the findings of three case studies on cleaner technologies (CFC substitutes, low-solvent paints and coatings, and membrane technology), in which the importance of the identified factors is investigated. From the case studies some general conclusions are drawn about these factors, and the way in which policy instruments can be used to stimulate innovation in and diffusion of cleaner technologies. No single policy instrument is considered to be optimal. Instead a policy mix is needed, involving a much wider use of economic instruments.
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    Review of industrial organization 6 (1991), S. 73-87 
    ISSN: 1573-7160
    Keywords: Utility regulation ; efficiency
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    Topics: Economics
    Notes: Abstract Depreciation schedules allocate capital expenditure over time. Investors are properly compensated under any full depreciation schedule, when the allowed rate of return plus inflation adjustments to the rate base just equal the investors' nominal discount rate. Whether changes in this nominal rate are reflected in adjustments to the rate base or the rate of return, depreciation schedules can be chosen to generate efficient time paths of output prices. Practical limits on depreciation schedules, nominal rates, or information may affect the choice between adjusting the rate base or rate of return for temporal changes in capital cost.
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    Environmental and resource economics 1 (1991), S. 385-413 
    ISSN: 1573-1502
    Keywords: Environmental standards ; environmental regulations ; benefit-cost ; cost-benefit ; United States ; efficiency
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    Topics: Energy, Environment Protection, Nuclear Power Engineering , Economics
    Notes: Abstract This paper summarizes the results of the first systematic, geographically-specific efficiency assessment of the U.S. experience with national environmental standards and with alternative approaches to establishing those standards. This ex-post evaluation assessed the net benefits that resulted from EPA's regulation of conventional air and water pollutants from the pulp and paper industry between 1973 and 1984. The paper compares the benefit-cost efficiencies of the three dominant regulatory approaches: technology, ambient, and benefits. Unlike previous studies, which assessed benefits and costs on a national basis, the study estimates both costs and benefits on a facility-by-facility basis. The analysis shows how the efficiency of national environmental regulations can vary dramatically at local levels. The authors conclude that the technology-based standards for water pollution management failed as an efficient environmental strategy. The costs clearly exceeded the benefits in the aggregate, as well as in the specific in most situations. Benefits exceeded costs at only 11 of the 68 mills investigated. The ambient based standards for air pollution management succeeded as an environmental strategy in the aggregate, but succeeded in the specific for only one-third of the mills (22 of 60 mills). The benefits-based standards for air pollution management also succeeded in the aggregate as well as in the specific for about one-half of the mills. Benefits exceeded costs at 29 of the 60 mills investigated. The results of the study point to two major conclusions. First, a regulatory policy that is based on some measure of environmental results, either ambient-based or benefits-based, will be more efficient than a policy that ignores environmental results. Second, truly efficient policies for reducing environmental risks require pollution mitigation decisions that take into account local conditions. These include not only the changes in local ambient conditions, but also the number of people who will benefit from pollution reduction decisions. This latter conclusion suggests that national environmental standards per se may be inefficient.
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    Mathematical methods of operations research 35 (1991), S. 309-320 
    ISSN: 1432-5217
    Keywords: vectorial control-approximation problem ; vectorial location problem ; duality ; efficiency
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    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung In der Arbeit werden für eine Klasse von vektoriellen Steuer-Approximationsproblemen in reellen reflexiven Banachräumen vektorielle Dualprobleme konstruiert und Dualitätseigenschaften hergeleitet. Als Spezialfall ergeben sich entsprechende Aussagen für vektorielle Standortprobleme.
    Notes: Abstract The author formulates vectorial dual problems for a certain class of vectorial control-approximation problems in real reflexive Banach spaces. A number of propositions concerning duality are derived. Corresponding propositions are mentioned for the special case of the vectorial location problems.
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    Mathematical methods of operations research 34 (1990), S. 91-115 
    ISSN: 1432-5217
    Keywords: vector optimization ; domination set ; efficiency ; weak efficiency ; Pareto-optimality
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    Topics: Mathematics , Economics
    Description / Table of Contents: Zusammenfassung Untersucht werden Vektoroptimierungsprobleme in linearen Räumen bezüglich allgemeiner Dominanzmengen einschließlich Folgerungen für Pareto-Optimalität und schwache Effizienz. Die Ergebnisse enthalten Äquivalenzen zwischen Vektoroptimierungsproblemen, Wechselwirkungen zwischen Zielfunktionen und Dominanzmengen, Aussagen über den Einfluß gestörter Zielfunktionen auf die Präferenzen des Entscheidungsträgers und somit auf die Dominanzmenge, Vergleiche von Effizienz bezüglich polyedrischer Kegel mit Pareto-Optimalität, Änderungen in den Zielfunktionen, die die Menge der Pareto-Optima einschränken, erweitern oder nicht beeinflussen, Möglichkeiten für die Nutzung von Dominanzmengen unmittelbar im Entscheidungsraum. Bedingungen für vollständige Effizienz werden gegeben.
    Notes: Summary Vector optimization problems in linear spaces with respect to general domination sets are investigated including corollaries to Pareto-optimality and weak efficiency. The results contain equivalences between vector optimization problems, interdependencies between objective functions and domination sets, statements about the influence of perturbed objective functions on the decision maker's preferences and thus on the domination set, comparisons of efficiency with respect to polyhedral cones with Pareto-optimality, changes in the objective functions which restrict, extend or do not alter the set of Pareto-optima, possibilities for the use of domination sets immediately in the decision space. Conditions for complete efficiency are given.
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    The journal of real estate finance and economics 2 (1989), S. 317-330 
    ISSN: 1573-045X
    Keywords: efficiency ; no-change forecasts ; martingale ; GNMA ; conventional mortgage rate
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    Topics: Economics
    Notes: Abstract Economic theory and empirical evidence indicate that the optimal near-term forecast of a long-term rate is (approximately) today's rate; the no-change model should provide excellent near-term forecasts of a long-term rate. This article estimates the longest forecast horizon over which no-change predictions of each of three mortgage-related interest rates pass a series of quality tests. The empirical results reject the optimality of no-change predictions of the one-year Treasury bill rate for all forecast horizons. Since October 1979, the tests support the hypothesis that no-change predictions of the 30-year conventional home mortgage and GNMA rates are optimal for forecast horizons of up to three-quarters-ahead.
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    Annals of operations research 2 (1984), S. 229-238 
    ISSN: 1572-9338
    Keywords: Trends ; efficiency ; technology ; energy ; productivity ; alternatives
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    Topics: Mathematics , Economics
    Notes: Abstract The paper discusses long-term trends in relationships between energy use and the overall productive efficiency of the American economy. While total energy consumption grew strongly during the twentieth century, the intensity of energy use (i.e. the energy/GNP ratio) fell persistently much of the time. Thus, there were simultaneous long-term improvements in labor productivity, total factor productivity,and energy productivity. The historical record appears to be at odds with conventional beliefs that gains in productive efficiency depend upon the rising intensity of energy use in production processes. A key role in bringing about these counter-intuitive results is assigned to what is referred to as the energy-technology-productivity nexus, in which the quality of particular energy forms such as electricity and liquid fuels (along with closely linked changes in energy-using technologies) played a critical part in leveraging the overall efficiency of production. As a result of these energy form-dependent improvements in productive efficiency, outputs grew more rapidly than all inputs, including the inputs of energy. The more recent past stands in sharp contrast to the long-term record. While energy efficiency (as measured by energy/GNP) showed strong gains during the late 1970's and early 1980's, the growth in overall productive efficiency was severely retarded. Implications for the future of suggested linkages between the quality of particular energy forms and technological progress are considered.
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    Utilities Policy 1 (1991), S. 134-143 
    ISSN: 0957-1787
    Keywords: Europe ; Procurement ; Telecommunications
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    Utilities Policy 1 (1991), S. 319-325 
    ISSN: 0957-1787
    Keywords: Net revenue test ; Predatory pricing ; Telecommunications
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    Utilities Policy 3 (1993), S. 311-320 
    ISSN: 0957-1787
    Keywords: Regulated competition ; Telecommunications ; Total factor productivity
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    Utilities Policy 3 (1993), S. 299-309 
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    Keywords: Competition ; Telecommunications ; USA
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    Utilities Policy 2 (1992), S. 13-24 
    ISSN: 0957-1787
    Keywords: Liberalization ; Telecommunications ; UK
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    Utilities Policy 2 (1992), S. 43-50 
    ISSN: 0957-1787
    Keywords: Developing countries ; Development ; Telecommunications
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    Utilities Policy 4 (1994), S. 21-30 
    ISSN: 0957-1787
    Keywords: Competition ; Telecommunications ; USA
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    Economic Modelling 2 (1985), S. 39-51 
    ISSN: 0264-9993
    Keywords: Measured service ; Nested logit ; Telecommunications
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    Information Economics and Policy 5 (1993), S. 295-309 
    ISSN: 0167-6245
    Keywords: ATM ; CATV ; ISDN ; Information highway ; Infrastructure ; Liberalization ; Monopoly ; Network ; Telecommunications ; Telecosm ; Year 2015
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    Information Economics and Policy 6 (1994), S. 97-119 
    ISSN: 0167-6245
    Keywords: Incentives ; Monopoly ; Regulation ; Reliability ; Telecommunications ; [JEL classification codes] L43 ; [JEL classification codes] L51
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    Information Economics and Policy 6 (1994), S. 121-142 
    ISSN: 0167-6245
    Keywords: Competition ; Industry structure ; Privatization ; Productivity ; Telecommunications ; [JEL classification codes] L96
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    Information Economics and Policy 5 (1993), S. 73-85 
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    Keywords: Telecommunications ; derived demand ; infrastructure ; interrelated factor demands ; substitution economic development
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    Information Economics and Policy 6 (1994), S. 53-75 
    ISSN: 0167-6245
    Keywords: Cost savings ; Education ; Factor substitution ; Telecommunications ; [JEL classification codes] I29 ; [JEL classification codes] O33
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    Information Economics and Policy 2 (1986), S. 195-209 
    ISSN: 0167-6245
    Keywords: Employment ; Productivity ; Telecommunications
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    Information Economics and Policy 4 (1989), S. 105-126 
    ISSN: 0167-6245
    Keywords: Telecommunications ; divestiture ; labor negotiations
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    Telecommunications Policy 6 (1982), S. 87-99 
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    Keywords: Energy ; Telecommunications ; Transportation
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    Telecommunications Policy 7 (1983), S. 91-95 
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    Keywords: AT&T ; Public policy ; Telecommunications
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    Telecommunications Policy 7 (1983), S. 100-110 
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    Keywords: Development assistance ; ITU ; Telecommunications
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    Telecommunications Policy 7 (1983), S. 111-120 
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    Keywords: Deregulation ; Telecommunications ; USA
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    Telecommunications Policy 7 (1983), S. 277-284 
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    Keywords: Developing Countries ; Investment ; Telecommunications
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    Telecommunications Policy 6 (1982), S. 258-268 
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    Keywords: Government ; Japan ; Telecommunications
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    Telecommunications Policy 6 (1982), S. 300-307 
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    Keywords: GNP ; Satellites ; Telecommunications
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    Telecommunications Policy 9 (1985), S. 229-239 
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    Keywords: Brazil ; Developing country ; Planning process ; Telecommunications
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    Telecommunications Policy 9 (1985), S. 215-228 
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    Keywords: Competition ; Telecommunications ; UK
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    Telecommunications Policy 6 (1982), S. 60-61 
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    Keywords: Cyprus ; Economics ; Telecommunications
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    Telecommunications Policy 6 (1982), S. 39-59 
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    Keywords: Energy ; Telecommunications ; Transportation
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    Telecommunications Policy 9 (1985), S. 49-61 
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    Keywords: DBS ; Telecommunications ; USA
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    Telecommunications Policy 8 (1984), S. 213-221 
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    Keywords: International institutions ; Regulation ; Technological change ; Telecommunications
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    Telecommunications Policy 7 (1983), S. 43-52 
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    Keywords: Social psychology ; Systems design ; Telecommunications
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    Telecommunications Policy 8 (1984), S. 307-313 
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    Keywords: Health care ; Telecommunications ; Telemedicine
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    Telecommunications Policy 7 (1983), S. 215-227 
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    Keywords: Canada ; Regulation ; Telecommunications
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    Telecommunications Policy 8 (1984), S. 107-126 
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    Keywords: New Zealand ; Public policy ; Telecommunications
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    Telecommunications Policy 8 (1984), S. 205-212 
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    Keywords: EEC ; Industrial policy ; Italy ; Telecommunications
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    Telecommunications Policy 9 (1985), S. 291-300 
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    Keywords: DBS ; Telecommunications ; USA
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    Telecommunications Policy 9 (1985), S. 310-318 
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    Keywords: Computing ; Data flow ; Telecommunications
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    Telecommunications Policy 8 (1984), S. 15-28 
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    Keywords: National networks ; Satellites ; Telecommunications
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    Telecommunications Policy 8 (1984), S. 29-43 
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    Keywords: Banking ; EFT ; Telecommunications
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    Telecommunications Policy 8 (1984), S. 44-50 
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    Keywords: Industrial policy ; Japan ; Telecommunications
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    Telecommunications Policy 8 (1984), S. 51-57 
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    Keywords: Investment ; Telecommunications ; the Philippines
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    Telecommunications Policy 8 (1984), S. 59-66 
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    Keywords: Development ; Investment ; Telecommunications
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    Electronic Resource
    Electronic Resource
    Amsterdam : Elsevier
    Telecommunications Policy 9 (1985), S. 31-40 
    ISSN: 0308-5961
    Keywords: Japan and Canada ; Regulation ; Telecommunications
    Source: Elsevier Journal Backfiles on ScienceDirect 1907 - 2002
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
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  • 83
    Electronic Resource
    Electronic Resource
    Amsterdam : Elsevier
    Telecommunications Policy 8 (1984), S. 181-203 
    ISSN: 0308-5961
    Keywords: Developing countries ; Foreign aid ; Telecommunications
    Source: Elsevier Journal Backfiles on ScienceDirect 1907 - 2002
    Topics: Economics
    Type of Medium: Electronic Resource
    Location Call Number Expected Availability
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