scholarly journals Simulation Analysis of the Blocking Effect of Transaction Costs in China's Housing Market

2013 ◽  
Vol 16 (3) ◽  
Author(s):  
Hong ZHANG ◽  
Yue Wang ◽  
Yin Lin ◽  
Yang ZHANG ◽  
Michael J. Seiler
Keyword(s):  
Transaction Costs ◽  
Housing Market ◽  
Simulation Analysis ◽  
Blocking Effect

A Simulation Analysis on the Tradeoff Between Cost and Risk in Replicating ELS (Equity-Linked Securities) with Transactions Costs: The Early Redeemable Case

2009 ◽  
Vol 17 (2) ◽  
pp. 1-47
Author(s):  
Jun Young Park ◽  
Chongseok Hyun
Keyword(s):  
Transaction Costs ◽  
Simulation Analysis ◽  
Transactions Costs ◽  
Proportional Transaction Costs ◽  
Underlying Asset ◽  
Trade Off ◽  
Computational Burden ◽  
Considerable Impact ◽  
The Right ◽  
Mean Variance

The trade-off between cost and risk of discretely rebalanced ELS hedges is analyzed under the proportional transaction costs. The analysis shows that the transaction costs have a considerable impact on the hedging performance. The trade-off, or mean-variance graphs move in the right and lower directions in cases that the drift or the volatility of the underlying asset increases, the redemption level of the ELS decreases, or the maturity of the ELS gets longer. The underlying asset move-based strategy (UAMB) reveals better performances than the time-based strategy (TS), while the delta move-based strategy (DMB) shows worse results. However, as the volatility of the underlying asset grows, the time-based strategy shows worse performances than the other two strategies does. The difficulty of computational burden in simulating the hedge procedure is alleviated using the vectorized scheme, which makes the simulation analysis in feasible time.

scholarly journals Let’s Break the Law: Transaction Costs and Advance Rent Deposits in Ghana’s Housing Market

2018 ◽  
Vol 7 (2) ◽  
pp. 333-354
Author(s):  
Kofi Oteng Kufuor
Keyword(s):  
Transaction Costs ◽  
Housing Market ◽  
Institutional Economics ◽  
Financial Burden ◽  
New Institutional Economics ◽  
The Law

A feature of the Ghana private rental accommodation market is that landlords usually demand advance rent of, in some instances, up to 5 years before signing a tenancy agreement. This is in violation of the 1963 Rent Act and recent initiatives are in the direction of curing this problem in the interest of protecting prospective tenants. However while advance rent is a financial burden this is offset by transaction costs in the housing market. Hence, in this paper and influenced by New Institutional Economics, I argue that it is possible for tenants and landlords to continue to bargain outside the shadow of the law to secure mutually beneficial tenancy agreements.

Computer simulation study about the dependence of amorphous silicon photonic waveguides efficiency on the material quality

2020 ◽  
Vol 90 (3) ◽  
pp. 30502
Author(s):  
Alessandro Fantoni ◽  
João Costa ◽  
Paulo Lourenço ◽  
Manuela Vieira
Keyword(s):  
Amorphous Silicon ◽  
High Throughput Screening ◽  
Simulation Analysis ◽  
Low Cost ◽  
Deposition Process ◽  
Large Area ◽  
Sidewall Roughness ◽  
Sensing Applications ◽  
Fabrication Defects ◽  
The Impact

Amorphous silicon PECVD photonic integrated devices are promising candidates for low cost sensing applications. This manuscript reports a simulation analysis about the impact on the overall efficiency caused by the lithography imperfections in the deposition process. The tolerance to the fabrication defects of a photonic sensor based on surface plasmonic resonance is analysed. The simulations are performed with FDTD and BPM algorithms. The device is a plasmonic interferometer composed by an a-Si:H waveguide covered by a thin gold layer. The sensing analysis is performed by equally splitting the input light into two arms, allowing the sensor to be calibrated by its reference arm. Two different 1 × 2 power splitter configurations are presented: a directional coupler and a multimode interference splitter. The waveguide sidewall roughness is considered as the major negative effect caused by deposition imperfections. The simulation results show that plasmonic effects can be excited in the interferometric waveguide structure, allowing a sensing device with enough sensitivity to support the functioning of a bio sensor for high throughput screening. In addition, the good tolerance to the waveguide wall roughness, points out the PECVD deposition technique as reliable method for the overall sensor system to be produced in a low-cost system. The large area deposition of photonics structures, allowed by the PECVD method, can be explored to design a multiplexed system for analysis of multiple biomarkers to further increase the tolerance to fabrication defects.

From transaction costs to transaction value: Overcoming the frictional paradigm

2020 ◽  
pp. 51-81
Author(s):  
D. P. Frolov
Keyword(s):  
Transaction Costs ◽  
Transaction Cost ◽  
Path Dependence ◽  
Transaction Cost Economics ◽  
Cost Minimization ◽  
Low Cost ◽  
Coase Theorem ◽  
Transactional Analysis ◽  
Transaction Sector ◽  
Transaction Value

The transaction cost economics has accumulated a mass of dogmatic concepts and assertions that have acquired high stability under the influence of path dependence. These include the dogma about transaction costs as frictions, the dogma about the unproductiveness of transactions as a generator of losses, “Stigler—Coase” theorem and the logic of transaction cost minimization, and also the dogma about the priority of institutions providing low-cost transactions. The listed dogmas underlie the prevailing tradition of transactional analysis the frictional paradigm — which, in turn, is the foundation of neo-institutional theory. Therefore, the community of new institutionalists implicitly blocks attempts of a serious revision of this dogmatics. The purpose of the article is to substantiate a post-institutional (alternative to the dominant neo-institutional discourse) value-oriented perspective for the development of transactional studies based on rethinking and combining forgotten theoretical alternatives. Those are Commons’s theory of transactions, Wallis—North’s theory of transaction sector, theory of transaction benefits (T. Sandler, N. Komesar, T. Eggertsson) and Zajac—Olsen’s theory of transaction value. The article provides arguments and examples in favor of broader explanatory possibilities of value-oriented transactional analysis.

Non-Public Monetary Systems in information Economy

2013 ◽  
pp. 151-159
Author(s):  
O. Krasilnikov ◽  
E. Krasilnikova
Keyword(s):  
Transaction Costs ◽  
Information Economy ◽  
Internet Technologies ◽  
Monetary Systems ◽  
Public Money ◽  
Economic Institution

The article discusses the development of non-public monetary systems (NPMS), defined as a specific economic institution. It presents their comparison with public money systems depending on the size of transaction costs. The authors come to the conclusion that in conditions of the information economy on the basis of Internet-technologies NPMS receive a new impetus to their development and can make serious competition in regard to public monetary systems.

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