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Illuminating the formal–informal dichotomy in land development on the basis of transaction cost theory
, Article Planning Theory ; 2018 ; 14730952 (ISSN) ; Jalali, D ; Sharif University of Technology
SAGE Publications Ltd
2018
Abstract
Transaction cost theory is largely used to investigate the formal domain of land and housing. In the informal domain, however, this perspective has been employed largely as a supplement in addressing the other fundamental notion in new institutional economics—property rights—despite the possibility that informality in land development can emerge regardless of the informality or formality of such rights. To cover this gap, this study developed a theoretical framework based on transaction cost theory to explain the formal–informal dichotomy in land development. The proposed framework maintains that land development depends on engaging in transactions that involve total or partial ownership of...
Genetic algorithms for fuzzy multi-objective approach to portfolio selection
, Article Annual Conference of the North American Fuzzy Information Processing Society - NAFIPS, 12 July 2010 through 14 July 2010 ; July , 2010 ; 9781424478576 (ISBN) ; Nikkholgh, R ; Gharahkozli, H ; Sharif University of Technology
2010
Abstract
This research deals with a model with better efficiency for selection of portfolio making use of cardinal constraints, which are explained in previous sections. Such a method, which is a combination of fuzzy models and MCDM considering the constraints intended by investors, has not been used in previous models. We have considered transactions cost, because they are among factors important for an investor, and their being ignored in a portfolio selection method will result in inefficient portfolio. Sector value constraint is among other constraints considered here. Such a constraint aims to raise investment rate in sectors with higher values. Cardinal constraints (number of shares existing in...
Illuminating the formal–informal dichotomy in land development on the basis of transaction cost theory
, Article Planning Theory ; Volume 18, Issue 1 , 2019 , Pages 100-121 ; 14730952 (ISSN) ; Jalali, D ; Sharif University of Technology
SAGE Publications Ltd
2019
Abstract
Transaction cost theory is largely used to investigate the formal domain of land and housing. In the informal domain, however, this perspective has been employed largely as a supplement in addressing the other fundamental notion in new institutional economics—property rights—despite the possibility that informality in land development can emerge regardless of the informality or formality of such rights. To cover this gap, this study developed a theoretical framework based on transaction cost theory to explain the formal–informal dichotomy in land development. The proposed framework maintains that land development depends on engaging in transactions that involve total or partial ownership of...
Identification of the Best Form of Strategic Alliances between the travel Agencies in Iran
, M.Sc. Thesis Sharif University of Technology ; Beirjandy, Heshmat (Supervisor)
Abstract
Due to the intensive competition in the markets and high risk of other strategies, in recent decades, Strategic Alliances (SA’s) have been widely used as a frequent strategy by industries and service sectors especially tourism industry and travel agencies. In this research, using Transaction Cost Theory (TCT), we tried to determine the appropriate types of strategic alliances for Iranian Travel Agencies with regard to the expansion of such inter firm relationships among Iranian travel agencies. Using both qualitative strategy through depth interviews and qualitative strategy through survey and statistical tests, the results of research were determined according to the four main constructs of...
Estimation of Inter-sectoral Labor Mobility Costs in Iran’s Economy
, M.Sc. Thesis Sharif University of Technology ; Rahmati, Mohammad Hossein (Supervisor)
Abstract
In order to estimate the inter-sectoral labor mobility costs in Iran’s economy, in this research, we design and estimate a structural model of worker’s decisions. The estimation method used in this research is Simulated Method of Moments and we have used Labor Force Survey and Household Expenditure and Income Survey in order to extract necessary moments. Our findings show that: 1) inter-sectoral labor mobility costs in Iran’s economy are large and they are between 3 to 11 times the annual income. 2) These costs are higher for female, rural, older and high-educated workers. 3) If these costs were zero, production in tradable and non-tradable sectors would have been 36 and 16 percent larger...
Spontaneous Order of Market and Institutional Challengaes
, M.Sc. Thesis Sharif University of Technology ; Mirjalili, Hossein (Supervisor)
Abstract
Hayek is one of the most impressive figures of Austrian School of Economics established by Carl Menger. The Thinkers of this school of thought believed that governments should not intervene in the market process. They argued that such interventions would spoil the market performance in resource allocation. Hayek believes that the order which emerges from the market is a spontaneous one; it means no one has designed it, but it has evolutionarily evolved by distinctive agents' actions who had no plan to make it. Hayek's arguments for spontaneous order are based on some epistemological presuppositions such as: "methodological individualism", "methodological subjectivism", "tacit knowledge" and...
Estimation of Mutual Funds’ Transaction Costs
, M.Sc. Thesis Sharif University of Technology ; Barakchian, Mahdi (Supervisor) ; Ebrahimnejad, Ali (Supervisor)
Abstract
The average annual turnover of Iranian mutual funds is 330 percent during the years 2011 to 2017. Such a high-volume trading imposes substantial transaction costs on the funds and their investors. Transaction costs comprise four different types of costs: In addition to taxes and commissions, there are other transaction costs originating from bid-ask spread and price impact, which need more complicated procedures to assess. By using high-frequency data and the information in the fund’s seasonal financial statements, the transaction costs of fifteen Iranian mutual funds are estimated. These funds spent 11 percent of their value on the trading costs per anum. Furthermore, the relation between...
An online portfolio selection algorithm using clustering approaches and considering transaction costs
, Article Expert Systems with Applications ; Volume 159 , November , 2020 ; Azin, P ; Sharif University of Technology
Elsevier Ltd
2020
Abstract
This paper presents an online portfolio selection algorithm based on pattern matching principle where it makes a decision on the optimal portfolio in each period and updates the optimal portfolio at the beginning of each period. The proposed method consists of two steps: i) sample selection, ii) portfolio optimization. First, in the sample selection, clustering algorithms including k-means, k-medoids, spectral and hierarchical clustering are applied to discover time windows (TW) similar to the recent time window. Then, after finding the similar time windows and predicting the market behavior of the next day, the optimum function along with the transaction cost is used in the portfolio...