Adam Smith and Sayyid Qutb: A comparison of two different worldviews
By Kehaan Manjee The “West” and “Militant Islam” have been in conflict with each other because of their different worldviews. Adam Smith and Sayyid Qutb have arguably had tremendous influence on these worldviews i.e. capitalism and Islamic state. Both thinkers provided their prescriptions to improve the condition of their societies, and analyzing these prescriptions helps us understand the differences in these worldviews. I have compared and contrasted their socioeconomic […]
Optimal Ordering in Sequential English Auctions: A Revenue-Comparison Model for 18th Century Art Auctions in London and Paris
By Amaan Mitha We develop a model based on several auction parameters to test the widely held notion that in a sequential English auction, it is optimal for the seller to arrange the lots in order of decreasing value. We test this model against two datasets of 18th century auctions, one of various auctions from […]
A Superstar Dreaming: An economic analysis of the Aboriginal Desert Paintings Market
by Karen Francis Abstract Two artists each have total auction sales greater than AU$10 million in a single decade. In that same market and decade, over 20% of painters failed to sell a single painting offered at auction. There is no question that superstars dominate the Aboriginal Desert Paintings Market (ADPM) in Australia. But what […]
Analysis of Auction Price Risk: An Empirical Study of the Australian Aboriginal Art Market
by Ilya Voytov Abstract Auction theory economists have shown that auctions can be structured to maximize the expected revenue to the seller. In this thesis, I show that they can also be optimized to minimize the sellers’ risk through an understanding of the driving factors behind seller’s auction price risk. I derive a general form […]
