{"title":"Equilibrium in Competitive Insurance Markets with Medical Tourism","authors":"Xinyan Shi, L. Gan","doi":"10.1177/23210222211051439","DOIUrl":"https://doi.org/10.1177/23210222211051439","url":null,"abstract":"In recent years, the rising healthcare costs in the United States have led many citizens to travel outside the country for medical care. Although such practice, commonly known as ‘medical tourism’, has become more and more popular, many insurance companies hesitate to incorporate a medical tourism option into insurance contracts. In this article, we wish to understand the theoretical rationale of that by designing an insurance contract in an environment where medical tourism is available. One crucial characteristic that influences consumers’ decision on whether to choose medical tourism is their tolerance levels associated with unexpected costs when travelling abroad for healthcare. In this article, we wish to investigate how the individuals with preference heterogeneity would self-select between the options of domestic treatment and treatment abroad offered in the contract. The results suggest that when the healthcare costs from both the treatment abroad and the domestic treatment are high and/or there is a higher chance of needing an elective treatment for the individual, insurance companies will more likely incorporate medical tourism in the contract. JEL Classification: C73, I13, D82, D86","PeriodicalId":37410,"journal":{"name":"Studies in Microeconomics","volume":"11 1","pages":"246 - 269"},"PeriodicalIF":0.0,"publicationDate":"2021-11-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41332766","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Textbook Economics from Ameritrade’s Joe Ricketts","authors":"A. Greco","doi":"10.1177/23210222211051448","DOIUrl":"https://doi.org/10.1177/23210222211051448","url":null,"abstract":"This article reviews the history of Ameritrade founded and developed by Joe Ricketts into a spectacularly successful discount brokerage enterprise. It, as such, represents another example of a risk-taking innovator who achieves success by filling a need in a free-enterprise market. The main takeaway is that free-enterprise works best from the bottom-up, that is, when individuals or individual companies ‘creatively destruct’ existing markets or generate new markets for goods or services through the implementation of innovative ideas and technology. The article also delineates the workings of the free-enterprise market by pointing out how familiar textbook economic principles are illustrated in the Ameritrade experience. JEL Classifications: A10, D01, E02, G10","PeriodicalId":37410,"journal":{"name":"Studies in Microeconomics","volume":"11 1","pages":"195 - 205"},"PeriodicalIF":0.0,"publicationDate":"2021-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44617300","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Economic Stress and Body Weight During the COVID-19 Pandemic","authors":"Nathalie Mathieu-Bolh","doi":"10.1177/23210222211053915","DOIUrl":"https://doi.org/10.1177/23210222211053915","url":null,"abstract":"The COVID-19 pandemic has caused income loss for many households, disrupting food consumption patterns and contributing to weight loss for some, and weight gain for others. In this article, I build a dynamic theoretical model that explains those empirical facts. The novelty of this paper is to incorporate stress caused by a lower than ideal income (economic stress) in a model of optimal intertemporal food consumption decisions made by a rational eater. In this framework, economic stress causes disutility and individuals can cope by increasing high-calorie food consumption (stress eating). The limitation to this coping mechanism is that being overweight from excessive calorie intake also decreases utility. Thus, a decrease in income causes updates of the constraints faced by rational consumers of food, which are a budget constraint, a stress constraint and a weight gain constraint. As a consequence, the effect of a decrease in income on body weight reflects a competing income effect as well as two effects specific to economic stress, which are an intertemporal substitution effect and a stress eating effect. Those effects explain opposite weight patterns observed during the pandemic. JEL Classification: D11, D91, I12, I14","PeriodicalId":37410,"journal":{"name":"Studies in Microeconomics","volume":"9 1","pages":"256 - 282"},"PeriodicalIF":0.0,"publicationDate":"2021-11-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43393514","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Role of Social Capital on the Searching Behaviours of a Job Seeker in the Multiple Labour Markets","authors":"H. Thanh, Hong Nguyen Thi Bich","doi":"10.1177/23210222211051469","DOIUrl":"https://doi.org/10.1177/23210222211051469","url":null,"abstract":"This study aims to build a two-stage theoretical model to analyse the role of social capital on the searching behaviours of a job seeker in two different markets. As the advantage of the social capital in either market triggers the reservation wages in both two markets equally, the job seeker should prioritize his or her resources enhancing a larger amount of the social capital in a particular market. Consequently, the job seeker tends to search more intensively in the market where she or he has a higher level of social capital. That is the seeker can shorten the expected searching time. The proposed model also explains why the job seeker sometimes chooses the 2nd highest wage offer instead of the highest one. JEL Classifications: C02, D83, J64","PeriodicalId":37410,"journal":{"name":"Studies in Microeconomics","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47367871","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Note on Rainfall Variability and Trends in Nigeria: Implications for Agricultural Production","authors":"Kolawole Ogundari, A. A. Ademuwagun, O. Appah","doi":"10.1177/23210222211051472","DOIUrl":"https://doi.org/10.1177/23210222211051472","url":null,"abstract":"The climatic change crisis has led to a renewed interest in understanding the dynamic of climatic variability over time. This is because rainfall variability in response to climate change poses a severe threat to global food security and agricultural production in general. As a result of this, the study investigates the convergence of rainfall variability in Nigeria. We use historical climate data on annual rainfall collected from meteorological stations across 12 states and covering 1992–2013. This gives rise to a balanced panel data of 12 states and 20 periods, which yields 240 observations. The study used a sigma convergence hypothesis test estimated using ordinary least square, fixed-effect and feasible generalized least square models. The coefficient of variation is taken as a measure of rainfall variability in the study. The results showed a negative (declining) linear correlation between rainfall’s coefficient of variation and data year. This means that rainfall variability decreased over time. This indicates evidence of convergence of rainfall, which means states with lower average annual rainfall are catching up on states with higher average annual rainfall over time. And, from the agricultural production standpoint, this result shows that the potential threat of rainfall variability to food security is not severe. In addition, it indicates a decrease in risk and uncertainty in food crop production associated with rainfall variability. JEL Classifications: O13, O55, Q10, Q54","PeriodicalId":37410,"journal":{"name":"Studies in Microeconomics","volume":"11 1","pages":"184 - 194"},"PeriodicalIF":0.0,"publicationDate":"2021-11-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48282478","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Wages and Firm Ownership: A Study of the Manufacturing Sector of India","authors":"S. Sahu, Ankita Goel","doi":"10.1177/23210222211051453","DOIUrl":"https://doi.org/10.1177/23210222211051453","url":null,"abstract":"From an ownership viewpoint, we analyse the determinants of significant wage differences for India’s manufacturing sector. We use data from the Centre for Monitoring Indian Economy’s Prowess database from 2000–2015. Using fixed-effects and Blinder–Oaxaca decomposition method, we confirm that foreign firms pay higher wages and salaries than domestic firms. Most importantly, productivity, participation in the export market, firm size, firm age and profit margin explain the inter-firm and intra-firm differences in labour intensity for the manufacturing firms in the Indian economy. The wage gap seems higher for intra-firm than the inter-firm, indicating that demand for labour is higher within the sector. JEL Classifications: E24, G32, L6, C13","PeriodicalId":37410,"journal":{"name":"Studies in Microeconomics","volume":"11 1","pages":"157 - 183"},"PeriodicalIF":0.0,"publicationDate":"2021-11-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49625960","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Epidemic Control and Resource Allocation: Approaches and Implications for the Management of COVID-19","authors":"Linus Nyiwul","doi":"10.1177/23210222211053751","DOIUrl":"https://doi.org/10.1177/23210222211053751","url":null,"abstract":"The experience with COVID-19 underscores a classic public policy choice problem: how should policymakers determine how to allocate constrained budgets, limited equipment, under-resourced hospitals and stretched personnel to limit the spread of the virus. This article presents an overview of the general literature on resource allocation in epidemics and assess how it informs our understanding of COVID-19. We highlight the peculiarities of the pandemic that call for a rethinking of existing approaches to resource allocation. In particular, we analyse how the experience of COVID-19 informs our understanding and modelling of the optimal resource allocation problem in epidemics. Our delineation of the literature focuses on resource constraint as the key variable. A qualitative appraisal indicates that the current suit of models for understanding the resource allocation problem requires adaptations to advance our management of COVID-19 or similar future epidemics. Particularly under-studied areas include issues of uncertainty, potential for co-epidemics, the role of global connectivity, and resource constrained problems arising from depressed economic activity. Incorporating various global dimensions of COVID-19 into resource allocation modelling such a centralized versus decentralized resource control and the role of geostrategic interests could yield crucial insights. This will require multi-disciplinary approaches to the resource allocation problem. JEL Classifications: I14, I18, E61, D60, H4, H12","PeriodicalId":37410,"journal":{"name":"Studies in Microeconomics","volume":"9 1","pages":"283 - 305"},"PeriodicalIF":0.0,"publicationDate":"2021-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42521763","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Fake Reviews in Online Platforms and the Effort to Fight Them","authors":"Juan Pedro Aznar-Alarcón, Oriol Anguera-Torrell","doi":"10.1177/23210222211051470","DOIUrl":"https://doi.org/10.1177/23210222211051470","url":null,"abstract":"This paper proposes a model in which oligopolistic firms selling through an online platform can invest in creating positive fake reviews to increase their reputation and negative ones to harm that of their competitors. Therefore, oligopolistic firms’ demand depends on the amount of positive and negative fake reviews. In this context, the online platform optimally chooses the effort to fight fake reviews and the fee it charges to online sellers for each transaction. The novelty of the model lies in incorporating the online platform’s role in fighting fake reviews and its interplay with sellers’ strategic behaviour. The model’s main result is that the platform’s effort has a positive impact not only on consumers’ surplus but also on the oligopolistic firms’ profitability. In its turn, the platform’s optimal effort depends on exogenous parameters, including the demand’s sensitivity to fake reviews. JEL Classifications: D21, D43, L13, L81","PeriodicalId":37410,"journal":{"name":"Studies in Microeconomics","volume":"11 1","pages":"235 - 245"},"PeriodicalIF":0.0,"publicationDate":"2021-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48842892","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Формирование концепции конкурентоспособности компании в контексте развития стратегической мысли","authors":"Виктория Ивановна Пятанова","doi":"10.33917/mic-5.100.2021.36-43","DOIUrl":"https://doi.org/10.33917/mic-5.100.2021.36-43","url":null,"abstract":"Понятие конкурентоспособности имеет ключевое значение в стратегическом менеджменте. Вопросы определения конкурентного преимущества и его использования для достижения целей компании привлекают значительное внимание со стороны бизнеса, менеджмента, экономистов, что привело за последние четыре десятилетия к постепенной концептуализации и росту стремления к пониманию конкурентоспособности на уровне бизнеса, регионов, наций. Многочисленные исследования были проведены, чтобы изучить конкурентоспособность теоретически и проверить на практике. В этой статье рассматриваются пути формирования подходов к исследованию конкурентоспособности компании.","PeriodicalId":37410,"journal":{"name":"Studies in Microeconomics","volume":"1216 40","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"72433243","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Микроэкономика повышения безопасности АЭС на основе толерантного топлива","authors":"Евгений Вадимович Семенов, В.В. Харитонов","doi":"10.33917/mic-5.100.2021.49-61","DOIUrl":"https://doi.org/10.33917/mic-5.100.2021.49-61","url":null,"abstract":"Приведена аналитическая методика оценки критериев микроэкономической эффективности инвестиций в АЭС с инновационным толерантным ядерным топливом, устойчивым к авариям. Показаны основные направления текущих исследований в мире по разработке различных вариантов толерантного ядерного топлива. Для оценки конкурентоспособности АЭС с топливом, устойчивым к авариям, предложено использовать коэффициенты влияния толерантного топлива на капитальные, операционные и топливные затраты, а также на эффективность использования установленной мощности реактора. Получены аналитические выражения, содержащие коэффициенты влияния, для оценки основных критериев эффективности инвестиций в АЭС с таким топливом: внутренней нормы доходности, приведенной стоимости электроэнергии, дисконтированного периода окупаемости и чистого дисконтированного дохода. Приведены результаты анализа чувствительности микроэкономических критериев к предложенным коэффициентам влияния, что позволяет определить наиболее важные направления для детального анализа экономических эффектов от внедрения толерантного топлива в ядерную энергетику.","PeriodicalId":37410,"journal":{"name":"Studies in Microeconomics","volume":"29 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2021-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80513652","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}