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 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 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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