Non-performance risk and transaction costs in laboratory forward and spot markets
Article Abstract:
A study investigating the effects of contract non-performance in a forward auction market, when the forward market is linked with a spot auction market, is presented. The results from the laboratory markets, which are considered as more reliable, suggest that the spot market becomes a backstop to failed units in the forward market.
Publication Name: Journal of Comparative Economics
Subject: Economics
ISSN: 0147-5967
Year: 2003
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An inverse global environmental Kuznets curve
Article Abstract:
The environmental Kuznets curve (EKC) is supposed to be an inverted U-shaped curve designed to explain the dependence of environmental degradation on the level of economic development. The arguments against the existing EKC methodology are discussed.
Publication Name: Journal of Comparative Economics
Subject: Economics
ISSN: 0147-5967
Year: 2003
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