scholarly journals Revealed Preference in a Discrete Consumption Space

2013 ◽  
Vol 5 (1) ◽  
pp. 28-34 ◽  
Author(s):  
Matthew Polisson ◽  
John K.-H Quah
Keyword(s):  
Utility Function ◽  
Cost Efficiency ◽  
Revealed Preference ◽  
Efficiency Cost ◽  
Afriat’S Theorem ◽  
Continuous Quantities

We show that an agent maximizing some utility function on a discrete (as opposed to continuous) consumption space will obey the generalized axiom of revealed preference (GARP), so long as the agent obeys cost efficiency. Cost efficiency will hold if there is some good, outside the set of goods being studied by the modeler, that can be consumed by the agent in continuous quantities. An application of Afriat's Theorem then guarantees that there is a strictly increasing utility function on the discrete consumption space that rationalizes price and demand observations. (JEL D11)

scholarly journals A Comprehensive Approach to Revealed Preference Theory

2017 ◽  
Vol 107 (4) ◽  
pp. 1239-1263 ◽  
Author(s):  
Hiroki Nishimura ◽  
Efe A. Ok ◽  
John K.-H. Quah
Keyword(s):  
Euclidean Space ◽  
Utility Function ◽  
Revealed Preference ◽  
Consumer Theory ◽  
Choice Data ◽  
Preference Theory ◽  
Positive Orthant ◽  
Intertemporal Consumption ◽  
Afriat’S Theorem ◽  
Revealed Preference Theory

We develop a version of Afriat's theorem that is applicable in a variety of choice environments beyond the setting of classical consumer theory. This allows us to devise tests for rationalizability in environments where the set of alternatives is not the positive orthant of a Euclidean space and where the rationalizing utility function is required to satisfy properties appropriate to that environment. We show that our results are applicable, amongst others, to choice data on lotteries, contingent consumption, and intertemporal consumption. (JEL D11, D81)

scholarly journals Analysis of Governance and Efficiency on Zakat Distribution: Evidence From Indonesia

2018 ◽  
Vol 3 (2) ◽  
pp. 1-15
Author(s):  
Novendi Arkham Mubtadi ◽  
Dewi Susilowati
Keyword(s):  
Cost Efficiency ◽  
Quantitative Research ◽  
Negative Influence ◽  
Positive Influence ◽  
Governance System ◽  
Board Size ◽  
Time Efficiency ◽  
Central Java ◽  
Efficiency Measures ◽  
Efficiency Cost

This study analysesand identifies the governance factor(s) that influence zakat disbursement efficiency for Indonesia’s National Zakat Board (BAZNAS)in four district of Central Java Province, namely Banyumas, Purbalingga, Banjarnegara, and Kebumen. This research examines how the zakat institution in Indonesia has improved in terms of disbursement activities over the past 5 years (2011-2015).This is a quantitative research study that uses two approaches of efficiency analysis, namely (i) zakat disbursement efficiency measurement (ratio analysis) and (ii) identification of governance factor(s) that influence the zakat disbursement efficiency of the zakat institutions (regression analysis). Eviews 9 was used in data calculation. In the first approach, there are three efficiency measures: disbursement efficiency, cost efficiency and time efficiency. In the second approach, governance factors (board size; professionals on board; and frequency of board meetings) identify the influence of governance factors on zakat disbursement efficiency measures. The findings showthat there is a negative influence between board size and cost efficiency and no influence with disbursement and time efficiency. However, the relationshipbetween board size and disbursement and time efficiency is rejected because of insignificant results. Professionals on boards has a positive influence on disbursement, cost and time efficiency. Lastly, the frequency of board meetings positively influences disbursement efficiency and time efficiency. Frequency of board meetings showed a negative influence with cost efficiency. This research is significant as it could contribute to future discussions on the potential ways to improve zakat governance and efficiency in Indonesia. The outcomes from the discussions will be useful as a guide for policymakers looking to improve the zakat institution’s governance system.   Keywords:Efficiency, Governance, Indonesia, Zakat

scholarly journals The implementation of human resources information system and it’s benefit for organizations

2018 ◽  
Vol 1 (1) ◽  
pp. 1 ◽  
Author(s):  
Lieli Suharti ◽  
Priyanto Ratna Sulistyo
Keyword(s):  
Information System ◽  
Human Resources ◽  
Cost Efficiency ◽  
Quality Of Information ◽  
Time Efficiency ◽  
Central Java ◽  
Human Resources Information System ◽  
Efficiency Cost ◽  
Using Data

The objective of this study is to examine the effect of the implementation of the Human Resources Information System (HRIS) on time efficiency, cost efficiency, quality of information, and managerial satisfaction. Using data of 80 respondents who are managers and staff working in HR department of companies in Central Java and Yogyakarta, we find that the implementation of HRIS affects time efficiency and managerial satisfaction. However, our study also find that the hypothesis concerning that the implementation of HRIS affects cost efficiency and quality of information is not supported.

scholarly journals Two New Ways of Documenting Miniature Incisions Using a Combination of Image-Based Modelling and Reflectance Transformation Imaging

2020 ◽  
Vol 12 (10) ◽  
pp. 1626 ◽  
Author(s):  
Dag-Øyvind E. Solem ◽  
Erich Nau
Keyword(s):  
Cost Efficiency ◽  
Laser Scanning ◽  
Accuracy Assessment ◽  
3D Models ◽  
Significant Degree ◽  
Software Packages ◽  
Efficiency Cost ◽  
3D Documentation ◽  
3D Processing ◽  
Reflectance Transformation Imaging

Digital 3D documentation methods such as Image-Based Modelling (IBM) and laser scanning have become increasingly popular for the recording of entire archaeological sites and landscapes, excavations and single finds during the last decade. However, they have not been applied in any significant degree to miniature incisions such as graffiti. In the same period, Reflectance Transformation Imaging (RTI) has become one of the most popular methods used to record and visualize this kind of heritage, though it lacks the benefits of 3D documentation. The aim of this paper is to introduce two new ways of combining IBM and RTI, and to assess these different techniques in relation to factors such as usability, time-efficiency, cost-efficiency and accuracy. A secondary aim is to examine the influence of two different 3D processing software packages on these factors: The widely used MetaShape (MS) and a more expensive option, RealityCapture (RC). The article shows that there is currently no recording technique that is optimal regarding all four aforementioned factors, and the way to record and produce results must be chosen based on a prioritization of these. However, we argue that the techniques combining RTI and IBM might be the overall best ways to record miniature incisions. One of these combinations is time-efficient and relatively cost-efficient, and the results have high usability even though the 3D models generated have low accuracy. The other combination has low time- and cost-efficiency but generates the most detailed 3D models of the techniques tested. In addition to cost-efficiency, the main difference between the 3D software packages tested is that RC is much faster than MS. The accuracy assessment remains inconclusive; while RC generally produces more detailed 3D models than MS, there are also areas of these models where RC creates more noise than MS.

scholarly journals Consumer Demand Analysis According to GARP

1992 ◽  
Vol 21 (2) ◽  
pp. 125-139 ◽  
Author(s):  
Julian M. Alston ◽  
James A. Chalfant
Keyword(s):  
Utility Function ◽  
Prior Information ◽  
Consumer Demand ◽  
Revealed Preference ◽  
Demand Analysis ◽  
Meat Demand ◽  
Nonparametric Approach ◽  
Power Of Tests

The nonparametric approach to consumer-demand analysis—based on revealed-preference axioms—is reviewed. Particular attention is paid to questions of size and power of tests for consistency of data with the existence of a stable, well-behaved utility function that could have generated the data. An application to Australian meat demand is used to show how these notions can be quantified and how prior information about elasticities, following Sakong and Hayes, may be used to increase the power of the approach.

Inverse problems of demand analysis and their applications to computation of positively-homogeneous Konüs–Divisia indices and forecasting

2016 ◽  
Vol 24 (4) ◽  
Author(s):  
Nikolay I. Klemashev ◽  
Alexander A. Shananin
Keyword(s):  
Utility Function ◽  
A Priori ◽  
Revealed Preference ◽  
Demand Analysis ◽  
Mathematical Programming Problem ◽  
Demand Functions ◽  
Preference Theory ◽  
Homogeneity Property ◽  
Economic Indices ◽  
Revealed Preference Theory

AbstractAccording to Pareto’s theory of consumer demand a rational representative consumer should choose their consumption bundle as the solution of a mathematical programming problem of maximization of the utility function under their budget constraint. The inverse problem of demand analysis is to recover the utility function from the demand functions. The answer to the question of solvability of this problem is based on the revealed preference theory. If the problem is unsolvable, one should apply regularization procedure by introducing irrationality indices. When recovering the utility function one puts a priori requirements on it. In this paper, we suggest including positively-homogeneity property into these requirements. We compare the setups with and without this requirement both theoretically and empirically and provide evidence in favor of requiring this property when computing economic indices for consumer representing consumption behavior of large number of various households for large time intervals.

Developments of Subsea Pipeline Technology for Norwegian Waters

1999 ◽  
Vol 122 (1) ◽  
pp. 33-39 ◽  
Author(s):  
Sverre Lund
Keyword(s):  
Cost Efficiency ◽  
Large Diameter ◽  
Transportation Systems ◽  
Subsea Pipeline ◽  
Deep Waters ◽  
Mapping Technology ◽  
Efficiency Cost ◽  
Large Water ◽  
Operational Issues ◽  
Subsea Pipelines

Norwegian waters have been a main arena for development of subsea pipeline technology over the last 25 yr. The gas transportation systems from Norway to continental Europe comprise the largest and longest subsea pipelines in the world. The challenges of pipeline projects in and from Norwegian waters include large water depths, large diameters, long distances, uneven seabed, rocky landfalls, and hostile environmental conditions, all within strict requirements for safety, regularity, cost efficiency, and environmental impact. This paper provides an overview of the technology developments performed in this period, initially focusing on ability to cross the deep waters of the Norwegian trench by large-diameter pipelines, then on subsea design aspects such as stability, free span design, and mapping technology, and in recent years also on improvements in transportation efficiency, cost reductions, and operational issues. The paper is based on a Plenary Lecture presented at the 1998 OMAE Conference in Lisbon, Portugal. [S0892-7219(00)00601-4]

scholarly journals Performance of Fish Farms in Vietnam–Does Financial Access Help Improve Their Cost Efficiency?

2019 ◽  
Vol 7 (3) ◽  
pp. 45 ◽  
Author(s):  
Thanh Ngo ◽  
Hung V. Vu ◽  
Huong Ho ◽  
Thuy T. T. Dao ◽  
Hai T. H. Nguyen
Keyword(s):  
Cost Efficiency ◽  
Allocative Efficiency ◽  
Banking System ◽  
Red River ◽  
Data Envelopment ◽  
Fish Farms ◽  
Red River Delta ◽  
Financial Access ◽  
Efficiency Cost ◽  
Important Solution

For a common small- to medium-sized fish farm in an agricultural-based economy, monitoring costs is very important, since financial constraints are always a problem for these farmers. This will be thus easier if the farmers can get access to external funds. This paper used data envelopment analysis (DEA) to examine the technical efficiency, cost efficiency and allocative efficiency of 639 fish farms in the Red River Delta (RRD) in Vietnam in 2018 to see how fish farmers control their costs and if financial access can really help in this matter. We found that these fish farms were very inefficient, meaning that they did not succeed in monitoring and allocating their costs and resources. Among the factors that could improve their efficiency, we found that developing the rural banking system to provide more financial access for RRD fish farms is an important solution.

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