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4
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52 views

Where should I start to teach myself 'comparative housing and urban planning'?

For my own research, I need to teach myself the basics of the research areas of Dr Morrison, Department of Land Economy, U.of Cambridge. Sorry if this is the wrong SE site, but the title 'Land Economy'...
4
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0answers
38 views

Are there any economic studies of License-On-Transfer agreements?

A recent entry at GitHub's blog caught my attention: https://github.com/LOT. The "network" claims to provide protection from patent trolls by entering into an agreement automatically granting all ...
4
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2answers
56 views

Why do some businesses choose scarcity as their business model instead of raising the price to meet the demand?

Here are some examples of what I'm talking about: Mass events such as Burning Man, the Olympics, and the World Cup sell out tickets very quickly which forces fans to resort to scalping or using bots ...
4
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1answer
89 views

Papers on Game Theory and the Housing Market

Professor George Fallis in his book "Housing Economics" writes: (Chapter 4 pg. 78) The (home)owners will establish a pricing strategy depending on how they believe demanders are behaving; and the ...
4
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1answer
152 views

Effects of ACA individual mandate vs AHCA surcharge

The US Congress is currently considering a new healthcare bill, the AHCA, which would replace the existing healthcare bill, the ACA. One of the major changes is the way each bill encourages people to ...
4
votes
1answer
44 views

Easterlin hypothesis

In my understanding, the seminal contribution of Easterlin (1974) showed that within a single cross section, both within and across countries, happiness correlates positively with income. However, ...
4
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1answer
350 views

Criticism of “Modern Political Economics” by Varoufakis, Halevi, Theocarakis

The book "Modern Political Economics" is quite critical about "neoclassical economics", the basic claim being, if I understand correctly, that the models which "neoclassical economics" (armed with ...
3
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0answers
26 views

Unique Nash-equilibria in multi-unit auctions with uncertain participation

Setup Consider a one shot sealed bid multi-unit auction where $N$ bidders compete for $K$ identical objects and each bidder $i$ has demand $d_i\in \{1,\dots,K\}$. Bidders receive private i.i.d. ...
3
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0answers
48 views

Mean Variance Optimization in a Utility Maximization Framework

I'm struggling to gain a broad understanding of Mean-Variance utility theory as it relates to finding the efficient frontier of a group of assets which each have some return and variance. The typical ...
3
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0answers
26 views

What changes do I, as an individual, experience during a recession?

There is a lot of talk about how we're approaching an economic recession. There is plenty of talk about how that would affect the world at large, but I haven't really found much on the level of ...
3
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0answers
50 views

Log-linearizing a non-separable utility function around the steady state

I've started reading Jordi Galí's Monetary Policy, Inflation and the Business Cycle (2nd ed., 2015). In section 2.5.2, Galí considers an example with the following non-separable period utility ...
3
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1answer
38 views

Quantity theory of money: microfoundations

The quantity theory of money states the price level is proportional to the amount of money in circulation. That is, if the quantity of money increases by some factor $k$, the price level will increase ...
3
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0answers
71 views

Linear Homothetic Utility

A Homothetic Utility is where $$ \forall x,y, \forall a \in \mathbb{R}_+: \ u(ax,ay)=au(x,y) $$ (or its monotonic transformation). A linear Homothetic utility is defined as $$ \forall x,y, \forall ...
3
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0answers
34 views

Asymmetric Nash Bargaining

The Nash bargaining solution selects the unique solution to the maximization problem $\max_{s_1, s_2 } (s_1 - d_1) (s_2 - d_2)$ such that the solution satisfy the following axioms : Invariance ...
3
votes
1answer
31 views

Trying to apply in practice the theory of finding the optimal price in a cournot competition

I recently received my bachelors degree in economics. For fun I wanted to try to apply some micro-economic theory of finding the optimal price in a cournot competition. I wanted to do this for a ...
3
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1answer
52 views

How to perform unbalanced panel data regression in R?

I am attempting to perform an unbalanced panel data regression in R. My code is as follows: ...
3
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0answers
36 views

Can technical change have a negative growth rate?

Using the following nested CES function I have backed out augmentation indices $A_L$ and $A_E$. Where $A_L$ is a labour-augmenting technical change index and $A_E$ is an energy-augmenting technical ...
3
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0answers
36 views

Are that models that explain how companies become more efficient?

I'm trying to model/understand the following intuition: Company makes a product Product gets sold, company makes a profit Company does something with the profit to become "better" at what they do: ...
3
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0answers
16 views

Can corporate tax loss carryforward function like a sort of insurance policy?

I'm a graduate student in mathematics, with a casual knowledge of economics, so please let me know if this question is a non-sequitur or off base. Here's the intuition I'm trying to capture: Suppose ...
3
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1answer
34 views

Existing metric for personal productivity hours needed per life hour?

With about 50 hours of productivity a week, including work, cooking, etc. I can complete the tasks and pay the expenses necessary to live about a week. Subtract maybe 5 hours of labor that goes into ...
3
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0answers
21 views

Are modern conglomerate mergers better or worse for economic competition?

Modern conglomerate mergers differ from those from decades ago as, even though they takeover smaller companies, they have a more narrow focus on related business and, in order to be successful, have ...
3
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0answers
48 views

How to interpret the proof that information cascades will form?

I am reading the 1992 paper of Bikchandani, Hirshleifer and Welch on information cascades. They claim and prove that, given an environment of sequential decision making, an information cascade will ...
3
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0answers
60 views

Combining Difference-in-Differences with Matching Methods When Parallel Trends Are Met in Unmatched Data

I'm running a difference-in-differences (DID) regression on panel data as follows: $$ Y_{it} = \beta_{0} + \beta_{1}Treat_{i}\times Post_{t} + \mathbf{\Pi}\mathbf{X}_{it} + \tau_{i} + \gamma_{t} +\...
3
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0answers
27 views

Sources on Border Carbon Adjustment

A large number of US economists have signed a Statement on Carbon Dividends, advocating a revenue neutral carbon tax as the best policy measure to reduce carbon emissions and so mitigate climate ...
3
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0answers
34 views

Inflation index and longevity of modern household appliances

The cost of household appliances and TVs are part of the Inflation Index. It is well known fact that modern appliances and TVs last 1/3 -1/2 time as comparing to 10-20 years ago and every time we buy ...
3
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1answer
62 views

Transformation of random variables and second order stochastic dominance

Suppose $X$ and $Y$ are two random variables where $X$ has SOSD (second order stochastic dominance) over $Y$. Let $g(\cdot)$ be a monotonic function and $X' = g(X)$ and $Y' = g(Y)$. Under what ...
3
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0answers
3k views

Did the robbers from Money Heist real steal noone's money?

Money Heist (original Spanish title: La Casa de papel) is a Spanish TV show about a bank heist. From Wikipedia (bolding mine), In Money Heist, a mysterious man, known as "The Professor", is ...
3
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0answers
867 views

Derive the cost function and supply function from production function

I didn't study economics, but am quite interested in the topic. I came to the question whether I could derive the supply curve / marginal cost function from the production function and I actually ...
3
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0answers
25 views

Ausubel (2004) auction, any implementation?

I'm looking for an implementation of the ascending-bid auction introduced in his 2004 AER paper. More specifically, a market using this framework which either has been reviewed by other scholars or ...
3
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0answers
54 views

Price elasticity on comparison website. How to calculate price elasticity using the coefficient of the products position on site?

I am looking at the following paper. Glenn Ellison & Sara Fisher Ellison, 2009. "Search, Obfuscation, and Price Elasticities on the Internet," Econometrica, Econometric Society, vol. 77(2), pages ...
3
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2answers
71 views

Translog cost function

Can anyone help to estimate total cost under Translog cost function. I have input output and input cost data. It would be highly appreciated if software demo to estimate the same is given.
3
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0answers
41 views

How should I calculate bulk selling price for a small business?

Some friends of mine run a small business, in a small garage-like space, with a few employees, making and selling "plumbuses". The typical customer orders about 5 plumbuses at a time. When I heard ...
3
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0answers
19 views

Publishing fixed and random effects in one model

I am a health economist working with panel data for a paper I am working on, I use Hausman tests to determine if I should use fixed or random effects estimators in my analysis. For some outcomes ...
3
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0answers
37 views

Are there empirical studies that quantify shoe-leather or menu costs?

Two theoretical arguments why a high level of inflation is bad (e.g. for growth) are: shoe-leather cost: keeping lower money balances when inflation is high (implying more frequent trips to the bank/...
3
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0answers
71 views

Open Foundational Problems in Mathematical Economics

What are some open problems in mathematical economics which are treated as if they have been solved in economics papers? As an example, one of my teachers has previously pointed out to me that there ...
3
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0answers
73 views

Insurance question: need a brief explanation

Two risk averse people are identical in every way (including wealth, W , amount of loss, L, and utility function, U(W)) except they have different probabilities of loss. Suppose they want to buy ...
3
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0answers
38 views

Is there a theoretical basis for any popular income- or wealth-distribution model?

When modelling income or wealth, we probably want a continuous distribution with a lower bound; statisticians have named many, but Pareto and log-normal distributions have been among the most ...
3
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0answers
63 views

Marxist Economics: Contradicting Definitions of Capital Intensity?

As noted in a previous post one method of capitalist exploitation in marxian theory is through an increase in labor intensity as defined by the equation: $$I=\frac{SV+V}{lh}$$ A fellow user ...
3
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0answers
112 views

Solow growth model deriving solutions

I was reading a note on Solow model in continuous time, and it said we can derive K, C, and Y from the key equation. But the steps were omitted, and I have no clue with it. How can I derive these ...
3
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0answers
25 views

Policy rate and the mean of the stochastic discount factor: what is exogenous?

Let us fix the length of one period to be the tenor of the risk-free rate targeted by the central bank, e.g. 1 day. There exists a stochastic discount factor (SDF, a.k.a. pricing kernel). I am ...
3
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1answer
85 views

Use Lag Operator to find Lifetime Budget Constraint

The budget constraint is $c_t + \tau_t + s_{t+1} =w_t(1-l_t) +(1+r_t)s_t$ And assume $\underset{t \longrightarrow \infty}{lim} \ \displaystyle{\frac{s_t}{\Pi_{i=1}^{t-1} (1+r_i)}} = 0$ Lag ...
3
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0answers
54 views

Analzying K-12 Education: Cost vs. Expenditure?

I have heard constant complaints, particularly from teachers, that (United States) schools are underfunded, and that budget cuts only stand to exacerbate this problem. My own high school couldn't ...
3
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0answers
369 views

Market clearing condition with Walras law

I have a diamond overlapping model The question is as follows Let us consider an infinitely lived production economy populated at time t by $N_t$ identical and perfectly competitive adult ...
3
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0answers
54 views

Firm Dynamic Optimization Problem

A firm has received an order at time $0$ for $M$ units of product to be delivered by time $T$. It seeks a production schedule for filling this order at minimum cost. Let $x(t)$ denote inventory ...
3
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0answers
57 views

Market efficiency in software, music, news, etc

I'm not an ecomonist, but have been tossing around some ideas in my head for a long time and thought I might ask here what resources or existing work might be out there. There are a lot of market ...
3
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0answers
86 views

Does Economic Growth Lead to Inflation?

As an answer to this question, it was stated that Economists believe that higher growth rates tend to also mean higher inflation rates. As a non macro-economist, I am wondering if this is true? ...
3
votes
1answer
64 views

How to improve the underperforming construction productivity by correcting its market failures?

Globally, labor-productivity growth in construction has averaged only 1 percent a year over the past two decades, compared with growth of 2.8 percent for the total world economy and 3.6 percent in the ...
3
votes
2answers
757 views

Interest rate Effects on labour supply

I was analysing, free of specificities, the effects of an increase in the real interest rate on labour supply in a two period setting. The obvious effect on leisure is the intertemporal substitution ...
3
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0answers
20 views

Random effect Vs Fixed effect with the 10 CAN provs as cross sections

Im working on a model examining the effect of minimum wages on employment over the 10 provinces using a panel data set. I have used the Hausman test to decide to use RE or FE, in which it recommended ...
3
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0answers
26 views

References? — Coordination Between Groups

Can anyone provide references for research that focuses on coordination between groups of decision makers rather than within group coordination with individual decision makers? \ Edits given the ...

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