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In the future, the government of Indonesia will launch the redenomination policy that cut the number of zeros of the Rupiah currency into three-digit. This study attempted to look at the effect of reducing the number of zeros in which will be displayed in price tags. The money illusion were measured through the willingness to pay (WTP) score. Participants are students of the Faculty of Psychology Syarif Hidayatullah State Islamic University of Jakarta (N = 136). The results of this study found that there are effects of the number of zeros onto the WTP (F (3.132) = 3.235, p

Land restitution in Eastern Lithuania has been rather slow, only in Vilnius district (which is the closest to Vilnius city) the restitution was exceptionally fast. Almost in all municipalities the percentage of lands returned to their owners was similar (ranging from 97% to 99%), but in Vilnius district municipality such lands comprised only 88%. Land restitution in Vilnius district is complicated, because a direct impact of Vilnius city is felt in this territory. The presence of Vilnius city increases the price of land in the areas closer to the city. There are some political factors involved as well.

Land restitution in Eastern Lithuania has been rather slow, only in Vilnius district (which is the closest to Vilnius city) the restitution was exceptionally fast. Almost in all municipalities the percentage of lands returned to their owners was similar (ranging from 97% to 99%), but in Vilnius district municipality such lands comprised only 88%. Land restitution in Vilnius district is complicated, because a direct impact of Vilnius city is felt in this territory. The presence of Vilnius city increases the price of land in the areas closer to the city. There are some political factors involved as well.

In this paper, two pairs of complementors have to decide whether to merge and eventually bundle their products. Depending on the degree of competitive pressure in the market, either both pairs decide to merge (with or without bundling), or only one pair merges and bundles, while rivals remain independent. The latter case can very harmful for consumers as it brings surge in prices. We also consider the case in which one pair moves first. Interestingly, we find a parametric region where first movers merge but refrain from bundling, to not induce rivals to merge as well.

We compare a Bertrand with a Cournot duopoly in a setting where production is polluting and exploits natural resources, and firms bear convex production costs. We adopt Dastidar's (1995) approach, yielding a continuum of Bertrand-Nash equilibria ranging above marginal cost pricing also, to show that softening price competition may lead to a lower output production in a Bertrand rather than a Cournot industry. The market structure bringing about the lowest output determines the highest social welfare, given the fact that the negative environmental effects of production more than offset the gain in consumer surplus.

Price-fixing, quota agreements, division of markets, the general cartel agreements, for years absorbed attention of economists and politicians who have been trying to work out effective policies to deal with this type of behavior. Despite these efforts, limiting the competition in the market through the creation of illegal agreements is still a common phenomenon in today's economy. To make sure that each participant of an illegal agreement will be justly punished multistage EC has developed a mechanism for calculating fines and systematically improves detection and level of penalties imposed to deter companies from violations of competition law.

A Leviathan is an inefficient government that maximises the public revenue it raises. This article seeks evidence of a Leviathan in the South African government in respect of the National Lottery. This search is motivated by the Lotteries Act of 1997 which legislates that the goal of the National Lottery is to maximise the public revenue raised from the sale of National Lottery tickets. The effective price model is used to estimate the demand curve for National Lottery tickets. Although the National Lottery is not yet maximising revenue, the actions of the National Lottery suggest seemingly Leviathan tendencies.

Land restitution in Eastern Lithuania has been rather slow, only in Vilnius district (which is the closest to Vilnius city) the restitution was exceptionally fast. Almost in all municipalities the percentage of lands returned to their owners was similar (ranging from 97% to 99%), but in Vilnius district municipality such lands comprised only 88%. Land restitution in Vilnius district is complicated, because a direct impact of Vilnius city is felt in this territory. The presence of Vilnius city increases the price of land in the areas closer to the city. There are some political factors involved as well.

Land restitution in Eastern Lithuania has been rather slow, only in Vilnius district (which is the closest to Vilnius city) the restitution was exceptionally fast. Almost in all municipalities the percentage of lands returned to their owners was similar (ranging from 97% to 99%), but in Vilnius district municipality such lands comprised only 88%. Land restitution in Vilnius district is complicated, because a direct impact of Vilnius city is felt in this territory. The presence of Vilnius city increases the price of land in the areas closer to the city. There are some political factors involved as well.

Prior literature has examined minority stock market participation and found that it increased rapidly throughout the 1990's and into the early 2000's. However, in 2004 after stock prices had suffered decline, Black and Hispanic market participation fell off sharply. This paper uses the NLSY 79 a panel data set to examine whether the diminished likelihood of Black and Hispanic 2004 market participation is due to race or variation in cognitive ability and investor experience. We find that IQ and investor experience subsume all racial effects in the likelihood of 2004 market participation.

AbstractThis study examines the financial history of threewaqfs (those of Mevlânâ Celâleddîn-i Rûmî, Sadreddîn-i Konevî, and Selîm II) in Konya through their account records covering the late sixteenth and early seventeenth centuries. These waqfs (charitable foundations) had large agricultural holdings, and their financial developments consequently reflect the local agricultural conditions in central Anatolia. This analysis of the waqf account books deals with the short-term financial difficulties resulting from harvest failures and increasing grain prices. The widespread Celâlî rebellions seem to have caused agricultural crisis and the financial decline of waqfs in the early seventeenth century.

The perceptions of family members regarding the purchase influence of adolescents were examined. The results of this Turkish study indicate that the influence of adolescents, especially on the purchase of items intended for their own use, is significant. It was found that the influence
of male adolescents on purchases was perceived to be stronger than the influence of females. Although the influence of adolescents in suggesting a brand while shopping with parents for a product for family use was considered to be strong, their influence on suggesting a price and products
was considered to be weak.

I identify a forward‐looking monetary policy function in a forecast‐augmented VAR (FOAVAR) model by using forecasted macroeconomic variables, in addition to the realized variables used in a standard VAR. I find that forecasted variables play a greater role than realized variables in a central bank's policy decisions. I also find that a contractionary policy shock in the FOAVAR generates impulse responses of macroeconomic variables that are consistent with the predictions of economic theory, while the same shock causes a price puzzle and a delayed‐overshooting response of the exchange rate in the standard model.

Hinged to a conversation between the author and her friend and colleague (now deceased) in Australia in 1993, this essay examines an ethical and conceptual gap that opens between an analytic that focuses on the disruptive nature of enjoyment in heteronormative orders and the distributional price of exceeding the Law in settler normativities. It pivots on the claim that the general availability of intensified potential, like the general availability of enjoyment, doesn't negate the specific social (dis)orderings that differentiate and then treat different bodies differently. It asks what purchase might accrue conceptualizing this conversation as an instance of a "queer bond."

We examine changes in subjective probabilities regarding retirement between the 2006 and 2008 waves of the Health and Retirement Study. Using a first-difference approach to eliminate individual heterogeneity, we find that the steep drop in asset prices in 2008 increased the reported probability of working at age 62 during the Great Recession. Increasing unemployment at least partly attenuated this effect, but subjective probabilities of working did not respond to changes in housing markets. Older workers' probabilities of working were more sensitive to fluctuations in the stock market, but less responsive to changes in labor market conditions.