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CASE STUDY
The internationalisation of Tesco -
new frOntiers and new problems
Neil Wrigley, Michelle LoWe and Katherine Cudworth
Tesco's international expansion until 2010 had seemed like a complete success despite the odd hiccough.
This c
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Publisher: Routledge
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See discussions, stats, and author profiles for this publication at: https:/www.researchgate.net/publication/274625048
The beneficial effects of prosocial spending on
happiness: work hard, make money, and spend
it on others?
Article in The Journal of Posi
730N1 Workshop - Week 7
Tesco Case Study Instructions and Questions
Students are required to meet in their learning teams before the workshop, discuss the case
study and prepare answers to the following questions. It is essential that your learning teams
730N1 Workshop - Week 7
Tesco Case Study Instructions and Questions
Students are required to meet in their learning teams before the workshop, discuss
the case study and prepare answers to the following questions. It is essential that
your learning teams
TY - JOUR
T1 - The beneficial effects of prosocial spending on happiness: work hard, make
money, and spend it on others?
AU - Geenen, Noreen Y.R.
AU - Hohelchter, Mareike
AU - Langholf, Valentin
AU - Walther, Eva
Y1 - 2014/05/04
PY - 2014
DA - 2014/05/04
Macroeconomic Theory I
Fall 2013
Homework #5
Question 1
Suppose now the agents problem is given by
max
cy;t ;co;t+1 ;st
(cy;t
1
)1
+
(co;t+1
1
)1
;
> 0 and
0:
subject to
cy;t + st = w ;
co;t+1 = (1 + r)st ;
cy;t
and co;t+1
;
where w > 0 is a constant wage
Macroeconomic Theory I
Fall 2013
Homework #3
[Due Date: November ?, 2013]
Question 1
In the class notes on the Ramsey model, the Hamiltonian is written as
H=e
with
(
n)t
u(c) + [w + (r
n)a
c];
> n: This is called the present-value Hamiltonian. Dene ~ = e(
Macroeconomic Theory I
Fall 2013
Homework #1
[Due Date: October 17, 2013]
Question 2
Suppose now the saving rate in the Solow growth model follows an exogenous time path, s(t). The
function s(t) is continuous and satises s(t) 2 (0; 1) for all t. The model
Macroeconomic Theory I
Fall 2013
Homework #4
[Due Date: December ?, 2013]
Question 1
Consider an economy that is inhabited by N identical innitively-lived consumers. Each consumer has
access to the production technology
y(t) = Ak(t);
where A > 0 and k(t)
Macroeconomic Theory I
Fall 2013
Homework #2
[Due Date: October ?, 2013]
Question 1
Consider the following system of dierrential equations:
x_ = Ax
x
y_ = x
where A > 0,
2 (0; 1);
> 0 and
y;
y+ ;
> 0: Assume that x and y must be non-negative at all time.
Macroeconomic Theory I
Fall 2013
Solutions to Homework #5
Question 1
(a) The consumers problem is given by
)1
(cy;t
1
max
cy;t ;co;t+1 ;st
)1
(co;t+1
1
+
subject to
cy;t + st = w ;
co;t+1 = (1 + r)st ;
cy;t
and co;t+1
:
The Euler equation is now given by
Macroeconomic Theory I
Fall 2013
Solutions to Homework #4
Question 1
(a) The problem faced by a typical consumer is given by
max
fc(t);i(t)g
Z
1
1
t [c(t)]
e
1
1
0
dt;
> 0;
> 0;
subject to
(1 + )c(t) + (1
)i(t) = Ak(t)
(t);
_ + k(t);
i(t) = k(t)
c(t)
0; k
Macroeconomic Theory I
Fall 2013
Solutions to Homework #2
Question 1
(a) Consider the following two equations
y = f (x)
Ax
x
and
y = h(x)
x+ :
The rst equation corresponds to the x_ = 0 locus and the second one corresponds to the y_ = 0 locus.
The functio
Macroeconomic Theory I
Fall 2013
Solutions to Homework #3
Question 1
~ = e(
Since H
n)t
H, we have
~
@H
= e(
@c
Obviously when
> n;
@H
@c
@H
@a
=
(
@c
n)t ~
~
@H
= e(
@a
and
= 0 if and only if
h
_ (t) = d e
dt
Hence
n)t @H
i
(t) =
~
@H
@c
(
n)t @H
@a
:
=
Macroeconomic Theory I
Fall 2013
Solutions to Homework #1
Question 1
(a) Let s stand for the marginal rate of substitution between K and L (the ratio of marginal
product of L to that of K). Then the elasticity of substitution between capital and labor is
Problem Set 4
Graduate Econometrics I
Due Date: 12/30/2013
1. Consider a model for new capital investment in a particular industry (say, manufacturing), where the cross section observations are at the county level and there are T years
of data for each co
The Solution of Problem Set 2
Graduate Econometrics I
2013
b0 X0 Xb/K
.
e0 e/(n K)
(X0 X)1 X0 = (X0 X)1 X0 . Then,
1. The F ratio is computed as
F =
We substitute e = M, and b = +
0 X(X0 X)1 X0 X(X0 X)1 X0 /K
0 M/(n K)
The denominator converges to 2 as we
Problem Set 4
Graduate Econometrics I
Due Date: 12/30/2013
1. Consider a model for new capital investment in a particular industry (say, manufacturing), where the cross section observations are at the county level and there are T years
of data for each co
Problem Set 3: Solution
Graduate Econometrics I
1. One occasionally sees the following reasoning used in applied work for choosing instrumental variables in the context of omitted variables. The model is
y1 = z1 1 + 1 y2 + q + a1
where q is the omitted fa
Problem Set 2
Graduate Econometrics I
Due Date: 10/28/2013
1. For the classical normal regression model y = X + with no constant
R2 /K
,
term and K regressors, what is plim F [K, nK] = plim
(1 R2 )/(n K)
assuming that the true value of is zero?
2. Let ei
Chapter Sixteen
Equilibrium
Structure
Market
equilibrium
Quantity tax and equilibrium
Tax incidence
Deadweight loss
Market Equilibrium
A
market is in equilibrium when total
quantity demanded by buyers equals
total quantity supplied by sellers.
Also
Chapter Seventeen
Auctions
Who Uses Auctions?
Owners of art, cars, stamps,
machines, mineral rights etc.
Q: Why auction?
Who Uses Auctions?
Owners of art, cars, stamps,
machines, mineral rights etc.
Q: Why auction?
A: Because many markets are
imperfect
Chapter Six
Demand
Properties of Demand Functions
Comparative statics analysis
of ordinary demand
functions - the study of how
ordinary demands x1*(p1,p2,y) and
x2*(p1,p2,y) change as prices p1, p2
and income y change.
Structure
Own-price changes
Price
Part 2 Consumer Theory
Chapter 2
Budget Constraint
Economists assume that consumers
choose the best bundle of goods
they afford.
Structure
Describe budget constraint
Algebra
Graph
Describe changes in budget
constraint
Government programs and budget
co
Chapter Twelve
Uncertainty
Structure
State contingent consumption (
Preferences under uncertainty
Attitudes toward risk
State-contingent budget constraint
Choice under uncertainty
Diversification and risk spreading
Uncertainty is Pervasive
What is u
Chapter Five
Choice
Structure
Rational constrained choice
Computing ordinary demands
Interior solution
Corner solution
Kinky solution
Example: Choosing taxes
Economic Rationality
The principal behavioral postulate is
that a decision-maker chooses i