Three market forces play into the hands of American professional sports franchises, which are leagues, cities and monopoly power. In consideration of the American professional franchises, this paper studies how teams ...Three market forces play into the hands of American professional sports franchises, which are leagues, cities and monopoly power. In consideration of the American professional franchises, this paper studies how teams exploit the three market forces and achieve the optimal revenue.展开更多
This paper presents an ex-ante assessment of the potential implications of the 2011 Human Rights Watch Report on the South African fruit industry. The report explicitly mentions the lack of compliance with ethical cod...This paper presents an ex-ante assessment of the potential implications of the 2011 Human Rights Watch Report on the South African fruit industry. The report explicitly mentions the lack of compliance with ethical codes within the fruit industry, the prevalence of exploitative conditions for farm workers and diverse human rights abuses in farms. The report recommends import ban on culprits as well as engaging third party auditing to ensure compliance. The high vulnerability of the smallholder farmers justified the special interest in the implications on their reputation and hence their ability to access profitable export markets. Although large-scale commercial farmers are potentially at risk of reputational damage due to the Human Rights Watch Report, they are better able to cope owing to their stronger capital base. The opinions of knowledgeable industry insiders were therefore elicited through qualitative research that used a five-point Likert scale to assess perceptions about market access. On the basis of the results, it is probable that the report will lead to improved working conditions for farm workers, improved concern for consumers＇ health, and enforcement of legislation by the govemment. The negative implications involve increased competition, possibility of retailers＇ rationalising their supply base and increased evaluation that ends at the farm gate. There is also high probability of increased marginalisation of the already disadvantaged smallholder suppliers, and possible increase in costs of auditing and accreditation for the entire fruit industry. Thus, active collaboration among all stakeholders to ensure the competitiveness of the fruit industry is inevitable.展开更多
This paper considered the problem of hedging a European call (put) option for a diffusion model where the asset price is influenced by n uncertain factors. The market is thus incomplete implying that perfect hedging i...This paper considered the problem of hedging a European call (put) option for a diffusion model where the asset price is influenced by n uncertain factors. The market is thus incomplete implying that perfect hedging is not possible. To derive a hedging strategy, it follows the approach based on the idea of hedging under a mean-variance criterion suggested by Schweizer. A very simple solution of this hedging problem by using the numeraire method was presented and some examples with explicit solutions were given.展开更多
文摘Three market forces play into the hands of American professional sports franchises, which are leagues, cities and monopoly power. In consideration of the American professional franchises, this paper studies how teams exploit the three market forces and achieve the optimal revenue.
文摘This paper presents an ex-ante assessment of the potential implications of the 2011 Human Rights Watch Report on the South African fruit industry. The report explicitly mentions the lack of compliance with ethical codes within the fruit industry, the prevalence of exploitative conditions for farm workers and diverse human rights abuses in farms. The report recommends import ban on culprits as well as engaging third party auditing to ensure compliance. The high vulnerability of the smallholder farmers justified the special interest in the implications on their reputation and hence their ability to access profitable export markets. Although large-scale commercial farmers are potentially at risk of reputational damage due to the Human Rights Watch Report, they are better able to cope owing to their stronger capital base. The opinions of knowledgeable industry insiders were therefore elicited through qualitative research that used a five-point Likert scale to assess perceptions about market access. On the basis of the results, it is probable that the report will lead to improved working conditions for farm workers, improved concern for consumers＇ health, and enforcement of legislation by the govemment. The negative implications involve increased competition, possibility of retailers＇ rationalising their supply base and increased evaluation that ends at the farm gate. There is also high probability of increased marginalisation of the already disadvantaged smallholder suppliers, and possible increase in costs of auditing and accreditation for the entire fruit industry. Thus, active collaboration among all stakeholders to ensure the competitiveness of the fruit industry is inevitable.
基金National Natural Science Foundation ofChina( 10 1710 66) and Shanghai Key Project( 0 2 DJ14 0 63 )
文摘This paper considered the problem of hedging a European call (put) option for a diffusion model where the asset price is influenced by n uncertain factors. The market is thus incomplete implying that perfect hedging is not possible. To derive a hedging strategy, it follows the approach based on the idea of hedging under a mean-variance criterion suggested by Schweizer. A very simple solution of this hedging problem by using the numeraire method was presented and some examples with explicit solutions were given.
