Intrahousehold allocation in an unintentional random experiment

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Budgeting and resource allocation in universities, a public choice approach

The calls urging colleges and universities to improve their productivity are coming thick and fast in Brazil. Many studies are suggesting evaluation systems and external criteria to control universities production in qualitative terms. Since universities and colleges are not profit-oriented organizations (considering just the fair and serious researching and teaching organizations, of course) the traditional microeconomics and administrative variables used to measure efficiency do not have any direct function. In this sense, It could be created a as if market control system to evaluate universities and colleges production. The budget and the allocation resources mechanism inside it can be used as an incentive instrument to improve quality and productivity. It will be the main issue of this paper.

What is the role of bookbuilding in bond allocation ? : evidence from Brazil

A dissertação tem como objetivo analisar dois aspectos do processo de bookbuilding nas emissões de debêntures no mercado brasileiro. O primeiro aspecto é verificar se o underwriter utiliza, a exemplo do que ocorre no Initial Public Offering (IPO) de ações, o poder discricionário nas alocações das debêntures entre os investidores. O segundo consiste em encontrar as características, tanto do emissor quanto do investidor, que influenciam na eficiência do bidder no processo de bookbuilding. Para realizar os testes empíricos foi utilizada uma base de dados composta por 40 books1 (totalizando 727 bids) fornecidos por um banco de investimento.Verifica-se que o underwriter não beneficia nenhum investidor na alocação final das debêntures. Essa afirmação fica evidenciada quando se calcula a diferença entre alocação final (efetivamente recebida pelo investidor) e alocação teórica (estimada com base no método pro-rata) para os 27 books (totalizando 557 bids) que apresentam demanda superior a oferta. A diferença é nula para 96.6% da amostra, sendo que das 19 observações não nulas, 15 possuem diferença absoluta de uma debênture entre a alocação teórica e a final, resultado explicado em função do arredondamento das alocações.Contrariando a teoria de leilão de titulos públicos, onde autores, como Scott and Wolf (1979), defendem que os investidores devem utilizar o step bid como estratégia ótima de bid, este trabalho verificou que no caso de bookbuilding de debêntures no mercado brasileiro, os investidores usuários de step bid posssuem menos chances de ter seu bid atendido plenamente pelo underwriter. Quando o investidor é um gestor de recursos de terceiros (asset management), aumenta-se a possibilidade de ter sua demanda atendida. O maior sucesso do asset management no bookbuilding deve-se às peculiaridades do mercado brasileiro: (i) somente investidores locais participam dos bookbuilding, já que investidores estrangeiros possuem preferência e incentivos por títulos públicos; (ii) gestores de recursos de terceiros representam 75% da demanda por debêntures; (iii) o mercado de gestão de recursos é concentrado: os 5 maiores gestores concentram 60% da indústria. Com isso os gestores de recursos podem desenvolver uma expertise própria, já que são os principais demandadores e frequentemente participam dos bookbuilding. As características do emissor também influenciam no desempenho dos bidders: as debêntures de baixo e médio risco aumentam a possibilidade do bidder ter seu pedido atendido na íntegra. Além disso, como era esperado, quanto maior for a demanda do título, mais dificil é para o investor conseguir a quantidade desejável.

Allocation of authority in franchise chains

This article investigates the level of delegation in franchise chains, distinguishing the two most relevant franchising models: Business Format Franchising and Learning Network Franchising. The two models basically differ on the level of real authority (effective control over decisions) exercised by the franchisors. Differences in business features, such as the required standardization, monitoring costs and consumer sensitivity to variations in product attributes (consumer measurement costs), explain the adoption of the different models of franchising. These variables affect the trade-off between the risk of brand name loss and the gains in knowledge sharing and learning within the network. The higher the need for standardization, the higher is the risk of brand name loss, and, consequently, the more likely the franchisor will adopt an organizational design that confers more control over franchisees’ decisions, such as business format franchising. This paper presents two case studies with Brazilian food franchise chains that illustrate the main argument and suggest additional propositions. Moreover, an empirical analysis of 223 franchise chains provides additional support to the hypothesis of a negative the effect of required standardization on the level of delegation.

Retail competition and shelf space allocation

We develop a model to study shelf space allocation in retail. Retailers compete for consumers not only choosing prices but also by the space allocated to each product on shelves. Our approach depart from the existing literature on shelf allocation, as we model the problem of price setting and shelf allocation in an oligopolistic retail market. We present a simple model of retail competition in which prices are dispersed in the crosssection of stores but shelf allocation is not.

Centralized allocation in multiple markets

We study the problem of centralized allocation of indivisible objects in multiple markets. We show that the set of allocation rules that are group strategy-proof and Pareto-efficient are sequential dictatorships. Therefore, the solution of the joint al-location in multiple markets is significantly narrower than in the single-market case. Our result also applies to dynamic allocation problems. Finally, we provide conditions under which the solution of the single-market allocation coincides with the multiple-market case, and we apply this result to the study of the school choice problem with sibling priorities.

Work, study, both or neither? time allocation of Brazilian teenagers

Labor force participation among youth is extremely high in Brazil when compared to countries with a similar economic background. In Argentina and Chile labor force participation, among those with 10 to 14 years old, is around 1% while in Brazil this rate is as high as 17 %. For the those between 15 and 19 years old these figures are around 10% in Chile, 15% in Argentina and 53% in Brazil. On the other hand the data on school attendance give a more optimistic picture. The percentage of children, between 10 and 14 years old, enrolled in school increased steadily from 79% to 95% from 1981 to 1998 and with age between 15 and 19, from 46% to 66% in the same period. These figures are close to the ones presented by Chile and Argentina. around 99% among the youngest group and around 70% for the 15 to 19 years old group. The objective of the paper is to understand the determinants of the time allocation decision of the Brazilian youth during the last twenty years. Using a multinomial logit regression we investigate the conditional effect of various micro and macro variables on the time allocation decision for the 1991 to 1998 period. Our main findings are: working and studying became the most likely allocation among the youngest in the poor rural areas and, in general, to study, whether working or not, became less dependent on family background for the youngest group but not for the older.

The power of the purse : what do the data say on US federal budget allocation to the states?

This paper provides new evidence on the determinants of the allocation of the US federal budget to the states and tests the capability of congressional, electoral and partisan theories to explain such allocation. We find that socio-economic characteristics are important explanatory variables but are not sufficient to explain the disparities in the distribution of federal monies. First, prestige committee membership is not conducive to pork-barrelling. We do not find any evidence that marginal states receive more funding; on the opposite, safe states tend to be rewarded. Also, states that are historically "swing" in presidential elections tend to receive more funds. Finally, we find strong evidence supporting partisan theories of budget allocation. States whose governor has the same political affiliation of the President receive more federal funds; while states whose representatives belong to a majority opposing the president party receive less funds.

Do police reduce crime? Estimates using the allocation of police forces after a terrorist attack

An important challenge in the crime literature is to isolate causal effects of police on crime. Following a terrorist attack on the main Jewish center in the city of Buenos Aires, Argentina, in July 1994, all Jewish institutions (including schools, synagogues, and clubs) were given 24-hour police protection. Thus, this hideous event induced a geographical allocation of police forces that can be presumed to be exogenous in a crime regression. Using data on the location of car thefts before and after the terrorist attack, we find a large deterrent effect of observable police presence on crime. The effect is local, with little or no appreciable impact outside the narrow area in which the police are deployed.

Multilayer optimization in radio resource allocation for the packet transmission in wireless networks

In the last decade mobile wireless communications have witnessed an explosive growth in the user’s penetration rate and their widespread deployment around the globe. It is expected that this tendency will continue to increase with the convergence of fixed Internet wired networks with mobile ones and with the evolution to the full IP architecture paradigm. Therefore mobile wireless communications will be of paramount importance on the development of the information society of the near future. In particular a research topic of particular relevance in telecommunications nowadays is related to the design and implementation of mobile communication systems of 4th generation. 4G networks will be characterized by the support of multiple radio access technologies in a core network fully compliant with the Internet Protocol (all IP paradigm). Such networks will sustain the stringent quality of service (QoS) requirements and the expected high data rates from the type of multimedia applications to be available in the near future. The approach followed in the design and implementation of the mobile wireless networks of current generation (2G and 3G) has been the stratification of the architecture into a communication protocol model composed by a set of layers, in which each one encompasses some set of functionalities. In such protocol layered model, communications is only allowed between adjacent layers and through specific interface service points. This modular concept eases the implementation of new functionalities as the behaviour of each layer in the protocol stack is not affected by the others. However, the fact that lower layers in the protocol stack model do not utilize information available from upper layers, and vice versa, downgrades the performance achieved. This is particularly relevant if multiple antenna systems, in a MIMO (Multiple Input Multiple Output) configuration, are implemented. MIMO schemes introduce another degree of freedom for radio resource allocation: the space domain. Contrary to the time and frequency domains, radio resources mapped into the spatial domain cannot be assumed as completely orthogonal, due to the amount of interference resulting from users transmitting in the same frequency sub-channel and/or time slots but in different spatial beams. Therefore, the availability of information regarding the state of radio resources, from lower to upper layers, is of fundamental importance in the prosecution of the levels of QoS expected from those multimedia applications. In order to match applications requirements and the constraints of the mobile radio channel, in the last few years researches have proposed a new paradigm for the layered architecture for communications: the cross-layer design framework. In a general way, the cross-layer design paradigm refers to a protocol design in which the dependence between protocol layers is actively exploited, by breaking out the stringent rules which restrict the communication only between adjacent layers in the original reference model, and allowing direct interaction among different layers of the stack. An efficient management of the set of available radio resources demand for the implementation of efficient and low complexity packet schedulers which prioritize user’s transmissions according to inputs provided from lower as well as upper layers in the protocol stack, fully compliant with the cross-layer design paradigm. Specifically, efficiently designed packet schedulers for 4G networks should result in the maximization of the capacity available, through the consideration of the limitations imposed by the mobile radio channel and comply with the set of QoS requirements from the application layer. IEEE 802.16e standard, also named as Mobile WiMAX, seems to comply with the specifications of 4G mobile networks. The scalable architecture, low cost implementation and high data throughput, enable efficient data multiplexing and low data latency, which are attributes essential to enable broadband data services. Also, the connection oriented approach of Its medium access layer is fully compliant with the quality of service demands from such applications. Therefore, Mobile WiMAX seems to be a promising 4G mobile wireless networks candidate. In this thesis it is proposed the investigation, design and implementation of packet scheduling algorithms for the efficient management of the set of available radio resources, in time, frequency and spatial domains of the Mobile WiMAX networks. The proposed algorithms combine input metrics from physical layer and QoS requirements from upper layers, according to the crosslayer design paradigm. Proposed schedulers are evaluated by means of system level simulations, conducted in a system level simulation platform implementing the physical and medium access control layers of the IEEE802.16e standard.