Decentralisation is not a costless concession by the national government.
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So long as misbehavior is easy and costless, it's common.
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Mr Modi may be calculating that a short delay is economically costless.
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Compliance will not be costless, but, with current technology, it should not be unmanageable.
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Once information is disclosed to one person, it is essentially costless to reveal to others.
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Not all states are sitting on huge fossil fuel reserves, and tapping these reserves isn't costless.
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For one thing, there's already a costless, instant way to exchange value without a middleman: cash.
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By moving those elections to coincide with national elections, though, we make local voting essentially costless.
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Repression is not costless; it limits the extent to which capital flows towards its most productive uses.
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"Competition" is not the same as the number of competitors, in particular because "competing" is not costless.
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It also requires significant back-and-forth with nonprofits, meaning it isn't costless for grant applicants either.
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But deploying a fiscal boost would not be costless, with Britain's public-debt-to-GDP ratio already running at 84%.
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One thing a normal economy means is there's no longer a public sector free lunch where hiring is costless and stimulative.
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By contrast, if they just got on board with single-payer, it would be more or less costless in the primary.
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But both China and Russia have demonstrated that hybrid warfare, if not pushed too far, can achieve lasting, if not costless, results.
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Re-opening normal channels of communication is a costless way to de-escalate tensions, learn to coexist and make future progress possible.
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However, share options are a one-way bet; very valuable if they get exercised but costless to the executive if they do not.
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"It's not costless to take out insurance," Boston Fed President Eric Rosengren, a voting member of the central bank, told CNBC last week.
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In the current environment, it is costless for members of Congress to speak out against China and to advocate for the harsher measures.
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Visa and MasterCard were dinosaurs, everyone proclaimed, because there was now a costless, instant way to exchange value without the middleman taking a cut.
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We have shown Putin that even relatively costless efforts to influence an election from abroad can cause the institutions of American democracy to fray.
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None of this is to suggest that secretive and behind-the-scenes approaches to legislating are costless, or that they do not have negative consequences.
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Many Leavers now believe that a perfect, costless version of Brexit exists, which they are being denied only through some mix of incompetence and conspiracy.
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They can lure clients with free trials that, since adding an extra customer requires little more than a tweak to a database, is near costless.
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It will likely be difficult to get consumers to go through the process of opting-in if failing to do so is perceived to be costless.
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Shuttering a college is neither easy nor costless, and in some cases the impacts on communities, existing faculty, and the feelings of alumni are real and painful.
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Supporters of the bill see it as a way to support 93/11 victims and families, in a way that is nearly costless to the American taxpayer.
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They chiefly serve as a costless way for congressmen to signal to voters that they care about certain issues; the typical representative belongs to 35, by Ms Victor's estimates.
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The explanation is a phenomenon known as "fiscal illusion" whereby deficit financing leads the public to perceive programs as relatively costless; that fuels demand for larger, not smaller, government.
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Those who want the US to sign the agreement say it's costless because it's nonbinding, and therefore America has nothing to lose and everything to gain by signing it.
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A collar — often called a costless collar — strategy uses the premiums from writing call options to purchase out of the money puts that limit the downside risk on an investment.
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Reducing a worker's hours from 30 to 28 might not be costless — it might require finding somebody who can work those two hours, going through job postings and applications and interviews.
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The problem with the modern Senate, he says, is dysfunction is relatively costless — the two sides whine about it, and complain about it, and then go off and fundraise on it.
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Because tax cuts big enough to make a splash cost so much money, proponents like to argue that their reforms will cause so much economic activity as to make the cut costless.
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Most businesses will become ensnared in litigation at some point, says Alexios Papastavrou of PotamitisVekris, a law firm, because starting legal action is largely costless, and judges will hear even frivolous cases.
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While leaving one's home is never costless, many airlines are capping fares in the wake of the hurricane; American Airlines has temporarily capped one-way coach fares from Puerto Rico at $2012.
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"Optus has apologised to customers who received the mistaken communication and offered a costless exit for those who took out the offer," said Andrew Sheridan, vice president, Regulatory and Public Affairs, Optus.
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Compliance is far from costless, so that this massive regulatory framework indeed does force "individuals and businesses to account for the environmental impacts of" using fossil fuels, at least as a first approximation.
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"You're paying no debit for that, that's costless so you'll own the stock about 10 percent lower if we continue lower or you'll have a nice upside profile as a way to own the stock," explained Rosin.
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That harmony, analysts say, highlights the surrender of offshore shorters, but it has not been costless; the offshore dim sum bond market has largely dried up, and no China-based issuer has issued dim sum this year.
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Tariffs mean more taxes and less competition, and anyone who thought the trade war would be costless was kidding themselves, even if the most severe effects that many feared have not yet materialized for the U.S. economy.
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"Long delays between the acknowledgment of obligations to establish transitional justice measures and the fulfillment of these involves risks: no one should be under the impression that waiting is a costless alternative," he told reporters in Colombo after concluding his mission.
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Since contributions would be pooled and fees kept low, a guarantee of a return of around 3 percent — about half the expected return on stocks over the long term — would be essentially costless even as the underlying rate fluctuated with the market and inflation.
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Competition (or the process of competing) itself is not costless, a reality made obvious by the fact that we have accepted regulated "monopoly" in the electric utility sector as a means of capturing the scale economies characterizing an industry with very large fixed costs.
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But given that they're all costless to the federal Treasury, and many can be implemented by states alone even with the federal government in Republican hands, it's worth asking how much of the benefits of a job guarantee can be achieved by cost-free regulation rather than a huge, hard-to-implement program.
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On the other hand, Sociologists do often think that it is a personal relationship that develops naturally and, therefore, cannot be artificially replicated. The method of research was by borrowing James D. Montgomery's (1991) elegant model of the network. The results found that there were two types of networks: costless network and costly network. The costless network is personal referrals, which is often preferred for hiring because it requires less effort.
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An improvement measure assesses whether the proposal improves the health of the organization. According to Cyert and March, information is required to take the most appropriate decisions. However, information gathering itself is not costless and requires resources.
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Lechters Housewares was a national chain of kitchen-supply stores in the United States, based in Harrison, New Jersey. Many of its stores were in malls. Its store-brand products used the name Cooks Club. It owned the Costless Home Store and Famous Brands Housewares Outlet chains.
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Conflict economics is a branch of economics that puts the allocation of resources by means of violent fighting, i.e. conflict, into economic models. In traditional economics, appropriation is a non-violent process that is guaranteed by perfect property rights and their costless enforcement. Conflict economics sheds a different light on appropriation.
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In the context of full-day care, Lilalu also offers educational programs at local schools. During the summer time the program “Umsonst & Draußen” (costless and outside) entertains the whole family. With live-music at the beer garden, a flea market, trial-workshops and other activities, “Umsonst & Draußen” offers a huge variety of activities.
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Obviously, the social planning problem gives us the highest possible utility level for the consumer. It is assumed, in particular, that information is costless and readily available to the social planner. The benevolent social planner solves: max u(c,R) s.t. c = f(l) l + R = T We can observe the absence of the planning problem.
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Ethnic option is a term coined by sociologist Mary C. Waters to express her conception that ethnic identity of the descendants of immigrants is flexible, symbolic and voluntary, not a definitive aspect of their identity. Waters argues that with the achievement of middle-class suburban status, ethnicity becomes a lifestyle option, a costless form of community.
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This has been modeled explicitly in the Hawk–Dove game. Such threats work, but must be wastefully costly if the threat is one of two possible signals ("I will not swerve"/"I will swerve"), or they will be costless if there are three or more signals (in which case the signals will function as a game of "Rock, Paper, Scissors").
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Imagine there are n consumers with valuations ranging from y to a valuation just above zero. The monopolist will want to sell to the consumer with the lowest valuation. This is because production is costless and by charging a price just above zero it still makes a profit. Hence to separate the consumers, the monopoly will charge first consumer (1-d^n)y where n is the number of consumers.
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IDL, short for Interactive Data Language, is a programming language used for data analysis. It is popular in particular areas of science, such as astronomy, atmospheric physics and medical imaging. IDL shares a common syntax with PV-Wave and originated from the same codebase, though the languages have subsequently diverged in detail. There are also free or costless implementations, such as GNU Data Language (GDL) and Fawlty Language (FL).
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Houben and Wester (2001), pp. 56-9. The Baan brothers focussed on the development and sale of software, which lent itself to nearly costless duplication onto computer diskettes, leaving advisory and support at client sites, i.e. the actual implementation, to third parties, such as Capgemini. Paul Baan was, therefore, often heard saying in these years: “Software is allemaal winst!” (Software is all profit!) Houben and Wester (2001), p. 51.
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This basic setting set by Crawford and Sobel has given rise to a variety of variants. To give a formal definition, cheap talk is communication that is: # costless to transmit and receive # non-binding (i.e. does not limit strategic choices by either party) # unverifiable (i.e. cannot be verified by a third party like a court) Therefore, an agent engaging in cheap talk could lie with impunity, but may choose in equilibrium not to do so.
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Between producers and consumers, there is the possibility of externalities arising. These may take the form of damages to either party, one of whom may or may not have the property rights concerning the externality. Under the assumptions of perfect information, both parties being price-takers, costless court systems, profit and utility maximization by producers and consumers respectively, no income/wealth effects, and no transaction costs, the parties may be able to meet an efficient level of compensation.Kolstad, 2011.
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But capitalists alone are not the only productive agents of society. Small farmers producing cash crops in Egypt have shown themselves to be quite capable of saving the required capital. The world's largest cocoa industry in Ghana is entirely the creation of small enterprise capital formation. # The transfer of unskilled workers from agriculture to industry is regarded as almost smooth and costless, but this does not occur in practice because industry requires different types of labor.
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The standard assumptions of economic theory imply that when income effects are small, the gap between WTP and WTA should be negligible. Thus indifference curves are drawn without reference to current endowments. This leads to the wide acceptance of the Coase theorem assertion that, subject to income effects, the allocation of resources will be independent of the assignment of property rights when costless trades are possible. This is to say, the allocation of property rights does not influence the way externalities are internalized by the market.
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In a competitive market, each agent makes intertemporal choices in a stochastic environment. Their attitudes toward risk, the production possibility set, and the set of available trades determine the equilibrium quantities and prices of assets that are traded. In an "idealized" representation agents are assumed to have costless contractual enforcement and perfect knowledge of future states and their likelihood. With a complete set of state contingent claims (also known as Arrow–Debreu securities) agents can trade these securities to hedge against undesirable or bad outcomes.
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One simple theory of occupational licensing envisions a costless supply of unbiased, capable gatekeepers, and enforcers. The gatekeepers screen entrants to the occupation, barring those whose skills or character suggest a tendency toward low-quality output. The enforcers monitor incumbents and discipline those whose performance is below standard with punishments that may include revocation of the license needed to practise. Assuming that entry and performance are controlled in these ways, the quality of service in the profession will almost automatically be maintained at or above standards that are set by the gatekeeper to the profession.
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A racist will still hire a qualified black person because going to the second- best option will be expensive to the company. A protectionist will still outsource because he has to achieve as many advantages over his competitors as he can to stay in business. Someone who thinks a discount store is haunted will seriously question their conclusions when they find their budget to be tight. Sometimes, however, it is virtually costless for the individual person to hold on to their preconceived beliefs, and people enjoy such beliefs.
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Its purpose is to make up for market failures, improve the efficiency of resource allocation, and maximize social welfare. Posner pointed out that the public interest theory contains the assumption that the market is fragile, and that if left unchecked, it will tend to be unfair and inefficient, and government regulation is a costless and effective way to meet the needs of social justice and efficiency. Mimik believes that government regulation is a public administration policy that focuses on private behavior. It is a rule drawn from the public interest.
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The 2x2x2 model originally placed no barriers to trade, had no tariffs, and no exchange controls (capital was immobile, but repatriation of foreign sales was costless). It was also free of transportation costs between the countries, or any other savings that would favor procuring a local supply. If the two countries have separate currencies, this does not affect the model in any way—purchasing power parity applies. Since there are no transaction costs or currency issues the law of one price applies to both commodities, and consumers in either country pay exactly the same price for either good.
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Austrians reject DSGE modelling. Critique of DSGE-style macromodelling is at the core of Austrian theory, where, as opposed to RBC and New Keynesian models where capital is homogeneousMeaning that it is costless to switch from one investment into another capital is heterogeneous and multi-specific and, therefore, production functions for the multi-specific capital are simply discovered over time. Lawrence H. White concludesWhite (2015) that present-day mainstream macroeconomics is dominated by Walrasian DSGE models, with restrictions added to generate Keynesian properties: :Mises consistently attributed the boom-initiating shock to unexpectedly expansive policy by a central bank trying to lower the market interest rate. Hayek added two alternate scenarios.
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In most cases, a given system in the Fido network would download more messages than it sent back, so in practice, the result was that the reply stream was costless. Janus was useful in settings where the upstream and downstream links were both of similar performance, which was true in the mid-1980s when most high-speed modems operated at 2,400 bps bidirectionally. However, the protocol was introduced almost at the same time as the rapid popularization of the USRobotics HST standard with a 9,600 bps download and only 300 bps upload, where Janus offered little or no advantage. When higher-speed bidirectional modems appeared, like v.
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For example, Henry George further suggested: For example, many analysts consider invention a "more or less costless store of knowledge, captured by monopoly capital and protected in order to make it secret and a 'rare and scarce commodity', for sale at monopoly prices. So far as invention is concerned, a price is put on them not because they are scarce but in order to make them scarce to those who want to use them." Patent monopolies raise share prices above tangible labor value. The difference between labor-value and monopoly-value raises goods prices, and is collected as "profit" by intermediaries who have contributed nothing to earn it.
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526-538 There are two crucial assumptions, that firms cannot screen applicants either before or after applying, and that there is costless self- employment available which realises a worker's marginal product (that is higher for the more productive workers). If there are two kinds of firm (low and high wage), then we effectively have two sets of lotteries (since firms cannot screen), the difference being that high-ability workers do not enter the low-wage lotteries as their reservation wage is too high. Thus low-wage firms attract only low-ability lottery entrants, while high-wage firms attract workers of all abilities (i.e. on average they will select average workers).
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Following transportation and unloading, animals should be given an extensive rest period before stunning (referred to as lairage) to allow animals to recover homeostasis, especially regarding lactic acid removal from tissues and glycogen reserves reestablishment. Stunning methods can play a large role in meat quality. Current research suggests that a two phase gas chamber may be best for minimizing stress. During summer time or in hot countries, the truck design should be taken into consideration, and passive ventilation and water shower before leaving the farm can have a positive effect and reduce the occurrence of PSE by up to 66.3%, which can be done by costless modifications.
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The effect was achieved by mounting a jet airplane engine two feet above a water tank, and using its windstream to create the sufficient water displacement. In post production, the surrounding water was removed with computer editing, and the image of the air-jet pasted into the center of the opening stargate. This technique was only used for earlier episodes, and the effect was replicated digitally soon after to allow more flexibility in shots. To cut down on costs, the opening of a Stargate is often just implied rather than shown, by a costless sound-effect followed by distinct lighting effects characteristic of light shining through water (as the event horizon is depicted).
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The economist Joseph Stiglitz argues that markets suffer from informational inefficiency and the presumed efficiency of markets stems from the faulty assumptions of neoclassical welfare economics, particularly the assumption of perfect and costless information and related incentive problems. Neoclassical economics assumes static equilibrium and efficient markets require that there be no non- convexities, even though nonconvexities are pervasive in modern economies. Stiglitz's critique applies to both existing models of capitalism and to hypothetical models of market socialism. However, Stiglitz does not advocate replacing markets, but instead states that there is a significant role for government intervention to boost the efficiency of markets and to address the pervasive market failures that exist in contemporary economies.
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In a match, the objective is not to win the maximum possible number of points, but rather to simply reach the score needed to win the match. For example, a player leading a 9-point match by a score of 7–5 would be very reluctant to turn the doubling cube, as their opponent could take and make a costless redouble to 4, placing the entire outcome of the match on the current game. Conversely, the trailing player would double very aggressively, particularly if they have chances to win a gammon in the current game. In money play, the theoretically correct checker play and cube action would never vary based on the score.
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This made the service appear largely costless from a computer and network resource accounting view and was the basis of the ongoing refusal by management to lease additional mainframes to support the service when it became popular. This choked developments GEnie could have made, but didn't dare deploy at the risk of becoming even more "too successful." With the rise of the Internet, GEIS failure to provide email service until 1993, the extremely slow speed of the character-based Mark III network, the lack of an internet portal, their decision not to develop a graphical user interface, and competition from ISPs, CompuServe, and AOL; GEnie ended on the last day of the millennium. Mark III service and GEIS itself soon followed.
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Wales endured great economic and cultural changes in the early twentieth century, with the boom Edwardian years (which saw the Welsh population grow more than 20%) followed by war, economic uncertainty and numerous industrial disasters. This societal turmoil was reflected by a decline in traditional Welsh activities such as Pêl-law, while further advances in transportation made it easier for teams and supporters to travel to the increasingly popular team sports like Rugby. The Great Depression saw a notable revival however, with Pêl-law again becoming popular as an informal and almost costless street game for impoverished workers. The revival was especially prevalent in the Swansea area, where street versions were a notable feature throughout the city as late as the 1960s.
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They need to convince investors these earnings are real, that the company is for real and that growth will be realized." Fastow disclosed to Enron's board of directors on October 22 that he earned $30 million from compensation arrangements when managing the LJM limited partnerships. That day, the share price of Enron decreased to $20.65, down $5.40 in one day, after the announcement by the SEC that it was investigating several suspicious deals struck by Enron, characterizing them as "some of the most opaque transactions with insiders ever seen". Attempting to explain the billion-dollar charge and calm investors, Enron's disclosures spoke of "share settled costless collar arrangements," "derivative instruments which eliminated the contingent nature of existing restricted forward contracts," and strategies that served "to hedge certain merchant investments and other assets.
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Cuff and Maurice Marchand study a combination of federalism and economics to determine what specific fiscal policies and intergovernmental transfers are required for federal economies that possess regional governments responsible for public services. According to their study, when labour is homogeneous, a wide variety of regional taxation policies can be utilized for purposes of redistribution so long as there is an optimal equalization scheme in place without concern for the cost of migration . On the other hand, if labour is heterogeneous, the costliness of inter-regional migration does have an effect on optimal policies. When migration is costless, "the set of instruments that can be used to decentralize the unitary state optimuum" is less broad, while when migration is costly, the central government must specifically introduce some incentive to encourage regional governmental redistribution of resources.
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Most importantly, many students were drilled on the rule that "certain words don't count", usually articles (namely, "a", "an", "the"), but sometimes also others, such as conjunctions (for example, "and", "or", "but") and some prepositions (usually "to", "of"). Hyphenated permanent compounds such as "follow-up" (noun) or "long-term" (adjective) were counted as one word. To save the time and effort of counting word-by-word, often a rule of thumb for the average number of words per line was used, such as 10 words per line. These "rules" have fallen by the wayside in the word processing era; the "word count" feature of such software (which follows the text segmentation rules mentioned earlier) is now the standard arbiter, because it is largely consistent (across documents and applications) and because it is fast, effortless, and costless (already included with the application).
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Earlier urban model systems were generally based on deterministic solution algorithms such as Spatial Interaction or Spatial Input-Output, that emphasize repeatability and uniqueness of convergence to an equilibrium, but rest on strong assumptions about behavior, such as agents having perfect information of all the alternative locations in the metropolitan area, transactions being costless, and markets being perfectly competitive. Housing booms and busts, and the financial crisis, are relatively clear examples of market imperfections that motivate the use of less restrictive assumptions in UrbanSim. Rather than calibrating the model to a cross-sectional equilibrium, or base-year set of conditions, statistical methods have been developed to calibrate uncertainty in UrbanSim arising from its use of Monte Carlo methods and from uncertainty in data and models, against observed data over a longitudinal period, using a method known as Bayesian Melding.Sevcikova, H., A. Raftery and P. Waddell (2007) Assessing Uncertainty in Urban Simulations Using Bayesian Melding.
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Deutsche Bank issued a report in the week before the referendum in which David Folkerts-Landau, the bank's chief economist, concluded: "While it may sound simple and costless for a nation to exit a 300-year-old union, nothing could be further from the truth". Folkerts-Landau claimed that the economic prospects after a "yes" vote were "incomprehensible," and cited Winston Churchill's 1925 Gold Standard decision and the actions of America's Federal Reserve that triggered the Great Depression of the 1930s, as mistakes of a similar magnitude. The Swiss UBS financial services company supported the position of Deutsche Bank. Supporters of independence said that Scotland had not realised its full economic potential because it was subject to the same economic policy as the rest of the UK. In 2013, the Jimmy Reid Foundation published a report which stated that UK economic policy had become "overwhelmingly geared to helping London, meaning Scotland and other UK regions suffer from being denied the specific, local policies they need".
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In 1971, Karl Brunner and Allan Meltzer delivered an analysis of the origin of money as a medium of exchange. The essentials of the explanation presented there were first set out in a paper published in 1964 in the Journal of Finance (Brunner and Meltzer 1964, p. 257-261). The crucial ingredient is the absence of perfect information about the quality of the goods households seek to purchase. Searching for information about the quality of goods involves some costs, whose amount differs substantially across goods. In this context, the goods with comparatively lower information costs for most households will emerge as media of exchange: “Where knowledge of market opportunities and the qualities of goods is neither costless to obtain nor uniformly distributed, the use of money as a medium of exchange reduces the resource cost of exchanging... For individuals, money is a substitute for investment in information and labor allocated to search. By using money, individuals reduce the amount of information they must acquire, process, and store, and they reduce the number of transactions in which they engage to exchange their initial endowments for optimal baskets of goods” (Brunner and Meltzer 1971, p. 799).
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