Ekonomi Bölümü Koleksiyonu

Permanent URI for this collectionhttps://hdl.handle.net/20.500.12469/57

Browse

Now showing 1 - 7 of 7

Citation - WoS: 10
Citation - Scopus: 12
Endogenous Reference Points in Bargaining
(Springer Heidelberg, 2018) Karagözoğlu, Emin; Keskin, Kerim
We allow the reference point in (cooperative) bargaining problems with a reference point to be endogenously determined. Two loss averse agents simultaneously and strategically choose their reference points taking into consideration that with a certain probability they will not be able to reach an agreement and will receive their disagreement point outcomes whereas with the remaining probability an arbitrator will distribute the resource by using (an extended) Gupta-Livne bargaining solution (Gupta and Livne in Manag Sci 34:1303-1314 1988). The model delivers intuitive equilibrium comparative statics on the breakdown probability the loss aversion coefficients and the disagreement point outcomes.
Citation - WoS: 11
Citation - Scopus: 15
Female Employment Status: a Survey Analysis of Selected Member States of the Arab League
(Springer Heidelberg, 2019) Ucal, Meltem Şengün; Günay, Simge
Low female labor force participation is a conspicuous issue in the literature. Based on this information, women's perspectives of the determinants of female labor force participation in 13 member states of the Arab League in relation to the region's patriarchal culture and conservative social norms are discussed in this paper. Probit modelling is applied to the sixth wave of the World Values Survey data (2010-2014), in order to examine the relationship between female labor force participation and socio-cultural variables, such as women's perceptions about the importance of religion, the priority of religion compared with science, the importance of traditions for women, the priority of men concerning the right to a job and the importance of a job for women's independence, and personal characteristics, such as women's social class, marital status, number of children, educational level and age. The results indicate that the number of children and the importance given to tradition and religion by women are obstacles to increasing their labor force participation.
Citation - WoS: 32
Citation - Scopus: 44
Income Inequality and Fdi: Evidence With Turkish Data
(Routledge Journals Taylor & Francis Ltd, 2016) Ucal, Meltem Şengün; Haug, Alfred Albert; Bilgin, Mehmet Hüseyin
This article explores how foreign direct investment (FDI) and other determinants impact income inequality in Turkey in the short- and long-run. We apply the nonlinear auto-regressive distributed lag (ARDL) modelling approach which is suitable for small samples. The data for the study cover the years from 1970 to 2008. The empirical results indicate the existence of a co-integration relationship among the variables with asymmetric adjustment of the income distribution in the short- and long-run. The negative impact of FDI on the Gini coefficient decreasing income inequality is statistically significant in the short- and long-run though with a quantitatively small impact in both cases. In the short run GDP growth increases inequality initially an effect that is reversed in the next period increases in domestic gross capital formation decreases inequality and increases in the literacy rate have very minor adverse effects on income equality. However in the long run these variables have no statistically significant effects on the Gini coefficient. A reduction in the population growth rate reduces inequality in the short run but has no effect in the long run whereas an increase in the rate reduces inequality in the long run but has no effect in the short run.
Citation - WoS: 7
Citation - Scopus: 6
Multi-Player Race
(Elsevier Science Bv, 2018) Dogan, Serhat; Karagozoglu, Emin; Keskin, Kerim; Saglam, Cagri
We present a model of race with multiple players and study players' effort choices and expected prizes in equilibrium. We show that in equilibrium once any two players win one battle each the remaining players do not exert any effort anymore. This turns the continuation game into a two-player race. This is different than the results in previous two-player models of race which report that all states of the game are reached with positive probabilities. We also provide a set of comparative static results on the effects of the number of players and the victory threshold. (C) 2018 Elsevier B.V. All rights reserved.
Citation - WoS: 83
Citation - Scopus: 82
The Role of Intangible Assets in Explaining the Investment-Profit Puzzle
(Oxford Univ Press, 2019) Orhangazi, Özgür
Starting around the early 2000s, and especially after the 2008 crisis, the rate of capital accumulation for US nonfinancial corporations has slowed down despite relatively high profitability; indicating a weakening of the link between profitability and investment. While the literature mostly focuses on financialisation and globalisation as the reasons behind this slowdown, I suggest adding another layer to these explanations and argue that, in conjunction with financialisation and globalisation, we need to pay attention to the increased use of intangible assets by nonfinancial corporations in the last two decades. Intangibles such as brand names, trademarks, patents and copyrights play a role in the widening of the profit-investment gap as the use of these assets enables firms to increase market power and profitability without necessarily generating a corresponding increase in fixed capital investment. After discussing the ways nonfinancial corporations use intangible assets, I look at large corporations in the USA and find the following: (i) The ratio of intangible assets to the capital stock increased in general. This increase is highest for firms in high-technology, healthcare, nondurables and telecommunications. (ii) Industries with higher intangible asset ratios have lower investment to profit ratios. (iii) Industries with higher intangible asset ratios have higher markups and profitability. (iv) The composition of the nonfinancial corporate sector has changed and the weight of high-technology and healthcare firms has increased; but this increase did not correspond to an equal increase in their investment share. The decline in the investment share of durables, nondurables and machinery is matched by an increase in the investment share of location-specific industries with low intangible asset use, most notably firms in energy extraction. In general, these firms have steadier markups and higher investment to profit ratios. (v)Yet, intangible-intensive industries' profitability has increased faster than their share of investment or total assets. All in all, these findings are in line with the suggestion that the increased use of intangible assets enables firms to have high profitability without a corresponding increase in investment.
Citation - WoS: 12
Citation - Scopus: 13
Sabotage in Team Contests
(Springer, 2019) Dogan, Serhat; Keskin, Kerim; Saglam, Cagri
In the contest literature sabotage is defined as a deliberate and costly activity that damages the opponent's likelihood of winning the contest. Most of the existing results suggest that anticipating a possible sabotage contestants would be discouraged from exerting high efforts. In this paper we investigate the act of sabotage in a team contest wherein team members exert costly efforts as a contribution to their team's aggregate effort which in turn determines the contest's outcome. For the baseline model with no sabotage there exists a corner equilibrium implying a free-rider problem in each team. As for the model with sabotage our characterization of Nash equilibrium reveals two important results: (i) a unique interior equilibrium exists so that the free-rider problem no longer is a concern and (ii) the discouragement effect of sabotage vanishes for some players. On top of those conclusions we investigate the team owner's problems of prize allocation and team formation with the objective being to maximize his team's winning probability.
Citation - WoS: 7
Citation - Scopus: 9
Time-Varying Fairness Concerns Delay and Disagreement in Bargaining
(Elsevier Science, 2018) Karagozoglu, Emin; Keskin, Kerim
We study an alternating-offers bilateral bargaining game where players may derive disutility from accepting shares below what they deem as fair Moreover we assume that the values they attach to fairness (i.e. their sensitivity to violations of their fairness judgments) decrease over time as the deadline approaches. Our results offer a new explanation to delays and disagreements in dynamic negotiations. We show that even mutually compatible fairness judgments do not guarantee an immediate agreement. We partially characterize conditions for delay and disagreement and study the changes in the length of delay in response to changes in the model parameters. (C) 2018 Elsevier B.V. All rights reserved.

Browse

Browsing Ekonomi Bölümü Koleksiyonu by WoS Q "Q2"