|
Preferences,
Choices and Satisfaction in a Bargaining Game
--
Angela
Ambrosino,
Alessandro Lanteri and Marco Novarese
The
aim of this paper is to study the role of cheap talk in
the determination of the focal point in a bargaining game.
A general discussion was conducted before the bargaining,
followed by a poll in which the players had to find a common
solution to an abstract bargaining problem. Though the results
were negative, it is concluded that knowing individual preferences
may help in predicting the solutionstowards which players
will converge at least in a social settingand `understanding'
the extent of satisfaction. These considerations refer to
variables traditionally left out of economic analysiswhich
focuses instead on the final payoff and not on their relation
to preferences or satisfactionthat are deemed non-measurable.
On the contrary, this work shows that consistent data emerge
by simply asking players to express their preferences and
satisfaction. This gives the authors the confidence to formulate
new hypotheses aiming at uncovering and understanding individual
behavior. Even if the results do not permit to draw strong
final conclusions, they point out new possible answers,
new ideas and topics for discussion.
©
2006 IUP . All Rights Reserved.
Efficiency
Measurement of Sugar Mills in Uttar Pradesh
--
S
P Singh
This
paper measures the relative efficiencies of individual sugar
mills of Uttar Pradesh, India, and sets targets for relatively
inefficient mills to improve their performance. The study
is based on the cross-sectional data collected for the year
2002-03 from a sample of 36 sugar mills. The Data Envelopment
Analysis (DEA) is applied for assessing efficiencies of
individual sugar mills. Tobit regression analysis is conducted
to examine the impact of various background variables on
the efficiencies. The paper finds that about 14% of sugar
mills operate at the maximum degree of efficiency under
Constant Returns to Scale (CRS) technology assumption. It
also evinces that an average sugar mill has the scope of
producing the same level of output with the inputs that
are 9% lesser than the existing level. The study shows that
several sugar mills have been able to make efficient use
of their inputs but they suffer from disadvantageous plant
sizes. The regression analysis reveals that the net sugar
recovery and plant size have a significant positive impact
on the overall technical efficiency and scale efficiency.
Labor input is found to be highly underutilized in almost
all inefficient mills. This calls for an amendment in the
labor laws to deal with the issue of overstaffing and to
provide scope for the organization to employ young, motivated
and talented workforce. The paper suggests that efficiency
in the sugar industry may be increased by expanding its
capacity as sugar mills in the state are mostly found to
operate at increasing returns to scale.
©
2006 IUP . All Rights Reserved.
Dynamics
of Growth in the Indian Small Scale Sector A
Comparative Analysis
--
Sunil
Kumar and Neetu Bala
This
paper examines the impact of economic reforms on the growth
of the Indian small scale sector by comparing the growth
rates of the key growth parameters between the pre- and
post-reforms periods. The results reveal that the economic
reforms and the liberalization process since 1991 have had
a very deleterious effect on the growth of the small scale
sector. The average annual growth rates of the number of
units, production, employment, and exports have tapered
off in the post-reforms period relative to what has been
observed during the pre-reforms period. Also, the sickness
in small scale sector has reached epidemic proportions.
The analysis of production structure in terms of production
per unit and employment per unit show that (i) no significant
technological change has emerged in the small scale sector
during the post-1991 years, and (ii) the present production
structure in small scale sector promoted the use of labor-saving
technology. On the whole, the study concludes that the recent
thrust on the liberalization and globalization of the Indian
economy has failed to render any positive impact on the
growth of the small scale sector.
©
2006 IUP . All Rights Reserved.
Changing
Dynamics of the Global Steel Market Some
Policy Issues for India
--
Subir
Bhattacharya
The
global steel industry is at the crossroads. China ranked
first in terms of steel demand. Excess demand in China finally
led to a worldwide boom in the steel industry. Several changes
are visible in steel business such as consolidation of business
with the consequent resurgence of an oligopoly market structure
from a near-competitive steel market. In this changing market
situation, China has emerged as the leader while big prospects
also exist in India. This paper analyzes the factors and
policy measures that has led to the spectacular growth of
steel demand in China. Economic reforms and industry-led
economic growth of China have led to huge consumption of
steel on a constant basis. The pattern of India's steel
demand has been analyzed in the paper. Unlike China, India's
economic growth has been led by the services sector resulting
in a low level of steel demand. However, following the initiation
of economic reforms, steel demand has picked up in India.
Projections are being made for India's future steel demand
up to 2019-20. The lessons from the Chinese experience have
been utilized to suggest policy measures to be introduced
to boost steel demand in India so as to reach the projected
levels. It is expected that steel demand in India would
pick up and China would meet its own demand through its
domestic capacity and would be a net exporter by 2019-20.
This could result in radical changes in the steel technology
and distribution in the developed world. Stringent environmental
norms may pose serious constraints to steel units in the
USA and UK to go in for major upgradation, except for the
rolling mill projects. Meanwhile, some new trends are visible
in steel business. Some steelmakers of the developed world
are closing down some mills/units in their countries and
setting up plants in the developing world to cope with the
changing steel business.
©
2006 IUP . All Rights Reserved.
Poduction
Structure of the Indian Textile Industry
--
S
Venkata Seshaiah,
I R S Sarma and M Bhupathi Naidu
In
this paper, an attempt has been made to analyze the production
structure of the Indian textile industry by estimating a
translog production function, in which capital, labor, energy,
materials and liberalization index (a proxy for technology,
reduced trade restrictions, technology penetration) are
the input determinants. This study refers to the period
of 1979-2002 and a separate analysis has been carried out
for the pre- (1979-1991) as well as post- (1991-2001 liberalization.
The results reveal that the post-liberalization growth in
productivity is less than that of the pre-liberalization
productivity growth. The factors that influence productivity
are also identified. The entrepreneurial skill ratios are
negative and low during all the periods for both the industries.
The Translog Production Function (TPF) has been estimated
and marginal productivities are low compared to that of
the pre-liberalization period.
©
2006 IUP . All Rights Reserved.
|
