DEA for Heterogeneous Samples
Data Envelopment Analysis is not very well applicable when a sample consists of firms operating under drastically different conditions. We offer a new method of efficiency estimation on heterogeneous samples based on a sequential exclusion of alternatives and standard DEA approach. We show a connection between efficiency scores obtained via standard DEA model and the ones obtained via our algorithm. We also illustrate our model by evaluating 28 Russian universities and compare the results obtained by two techniques.
We extend the Dixit and Stiglitz set-up by introducing consumer heterogeneity into a general equilibrium model of monopolistic competition. By getting a closedform solution for a symmetric equilibrium, we show how the market outcome depends on the joint distribution of tastes and labor productivities of consumers. In contrast to the traditional framework, the model predicts that the short-run equilibrium price may vary with the number of firms, demonstrating both anti- and procompetitive behavior, which is in accordance with economic intuition and empirical evidence.
In this paper, we discuss the methods of endowment management existing in the world and their applicability to the Russian university system. The endowment spending research focuses on the following issues: reinvesting endowment income; identifying the size of expendable endowment income; using the endowment body, not onlyincome; choosing endowment spending policy, rule and rate endowments, etc. We provide an overview of endowment fund financial indicators and endowment spending allocationin Russia. Based on the example of the HSE Endowment Fund, we analyze the use of endowment spending rulesand model of financial indicators for 2008–2014. The University’s Endowment Fund endowment spending policies implement the preservation principle, which may be reasonable in a stable economy. However, the viability of the principle is questionable in the crisis, the more so since the endowment is mostly in rubles. Using net asset valuation methods, the HSE Endowment Fund could provide equity betweengenerations with annual distribution of income in favor of the next and current generations.
The present study analyzes Perm, Russia residential housing market supply focusing on sellers' heterogeneity. Many indicators of heterogeneity were consi- dered in the previous research, and all of them were proved to have a great impact on housing prices and time on the market. However, the gap exists in evaluating sellers’ pricing strategies in dynamics mostly because of unavailable data. Current study clears out the effect of time on price using data on asking price dynamics. We employ semiparametric sample selection estimation procedure which accounts for the unobserved property characteristics and non-random selection of objects out of the sample. We consider two main types of sellers: real estate agents and property owners, and show that real estate agents appear to be more impatient compared to property owners. Specifically, they set a lower asking price initially and are more likely to revise it over time if the object is not sold.
International cooperation of experts, teachers of higher educational institutions is of great importance for long periods of time. The message described a five-year experience of international cooperation of the United editorial Board of scientific journals (UEBSJ) as an integrative platform between Russian and foreign universities. First and foremost there are strong research links through the publications of UEBSJ between the Bulgarian and Uzbek universities.