On Tuesday, April 7th, ISET hosted Professor Giorgio Brunello from the University of Padova. Prof. Brunello presented his recent paper titled "Pappa Ante Portas: The Retired Husband Syndrome in Japan”, that he collaborated with his colleague Professor Marco Bertoni.

Professor Brunello attempted to show the relationship between a husband’s retirement and mental health (stress) of his wife by using an econometric analysis. As explained, the paper was prepared based on Japanese micro data and the exogenous variation generated by the 2006 revision of the Japanese Elderly Employment Stabilization Law, which mandated employers to guarantee continuous employment between mandatory retirement age and full pension eligibility age.

ISET Policy Institute hosted Claus Hipp, CEO and owner one of the largest baby food manufacturer in Germany. Messenger and Georgia Today covered the event. Please find the full article below.

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On 5 June, Professor Deniz Selman from Bogazici University presented the paper titled “Simultaneous Auctions with Private and Common Values,” which he co-authored with Deniz Nemli. In a simultaneous auction, every bidder submits bids on an item simultaneously. The paper discusses a situation where an item’s value can be of two types, one in which the bidders have private values and another where the value of the item is a publicly known common value.

On September 4, 2014 ISET Conference Hall hosted Dr Sophie Ghvanidze, Hochschule Heilbronn, with her presentation. Does Country-of-Origin Matter? The Case of Georgian Wine for German Wine Consumers".The purpose of this study is to identify dimensions of country images of Georgia in terms of benefits sought by German wine consumers of Georgian wine. Four consumers perceived values quality, price, social and emotional value identify the perception of consumers for Georgian wine.

On June 13, ISET hosted Dr. Dmitry Shapiro from the University of North Carolina at Charlotte, who presented his paper “Microfinance and Dynamic Incentives”.

The presenter started his presentation by providing some numbers related to microfinance organizations, explaining theessence of how they work and providing examples of problems that these organizations face, such as: adverse selection, moral hazard, the lack of collateralizable assets, the lack of enforcement and high costs. In the presence of such problems, repayment rates were very low and heavy subsidization was needed. One solution to this is the use of dynamic incentives, which is the methodology used by microfinance organizations throughout the world. According to this methodology, borrowers have incentives to repay in order to have access to higher future loans. This successful methodology is one that does not create incentives to default.

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