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Transportation costs and the spatial organization of economic activity

Redding, Stephen; Turner, Matthew A. - London School of Economics (LSE) - 2014

This paper surveys the theoretical and empirical literature on the relationship between the spatial distribution of economic activity and transportation costs. We develop a multi-region model of economic geography that we use to understand the general equilibrium implications of transportation...

Persistent link: https://www.econbiz.de/10011126069

Epistemic virtues and theory choice in economics

Moscati, Ivan - London School of Economics (LSE) - 2006

When economists have to choose between competing theories, they evaluate not only the theories’ empirical relevance, but also qualities like their simplicity, tractability, parsimony and unifying power. These are called the epistemic virtues of a theory. The present paper proposes a formal...

Persistent link: https://www.econbiz.de/10011126176

From philanthropy to "altruism": incorporating unselfish behavior into economics, 1961-1975

Fontaine, Philippe - London School of Economics (LSE) - 2006

Persistent link: https://www.econbiz.de/10011125912

Automobile replacement: a dynamic structural approach

Schiraldi, Pasquale - London School of Economics (LSE) - 2008

This paper specifies and estimates a structural dynamic model of consumer demand for new and used durable goods. Its primary contribution is to provide an explicit estimation procedure for transaction costs, which are crucial to capturing the dynamic nature of consumer decisions. In particular,...

Persistent link: https://www.econbiz.de/10010746578

Railroads of the Raj: estimating the impact of transportation infrastructure

Donaldson, Dave - London School of Economics (LSE) - 2010

railroad network. Guided by six predictions from a general equilibrium trade model, I find that railroads: (1) decreased trade … real income; and (6), a sufficient statistic for the effect of railroads on welfare in the model accounts for virtually all … of the observed reduced-form impact of railroads on real income. I find similar results from an instrumental variable …

Persistent link: https://www.econbiz.de/10011126462

Sales and collusion in a market with storage

Nava, Francesco - London School of Economics (LSE) - 2006

Sales are a widespread and well-known phenomenon that has been documented in several product markets. Regularities in such periodic price reductions appear to suggest that the phenomenon cannot be entirely attributed to random variations in supply, demand, or the aggregate price level. Certain...

Persistent link: https://www.econbiz.de/10010884541

Digital goods and the new economy

Quah, Danny - London School of Economics (LSE) - 2003

Digital goods are bitstrings, sequences of 0s and 1s, which have economic value. They are distinguished from other goods by five characteristics: digital goods are nonrival, infinitely expansible, discrete, aspatial, and recombinant. The New Economy is one where the economics of digital goods...

Persistent link: https://www.econbiz.de/10010746188

Sales and collusion in a market with storage

Nava, Francesco; Schiraldi, Pasquale - London School of Economics (LSE) - 2013

Sales are a widespread and well-known phenomenon documented in several product markets. This paper presents a novel rationale for sales that does not rely on consumer heterogeneity, or on any form of randomness to explain such periodic price fluctuations. The analysis is carried out in the...

Persistent link: https://www.econbiz.de/10011071258

Strategic investment, industry concentration and the cross section of returns

Bustamante, Maria Cecilia - London School of Economics (LSE) - 2011

This paper provides an alternative real options framework to assess how firms' strategic interaction under imperfect competition a¤ects the industrial dynamics of investment, concentration, and expected returns. When firms have similar production technologies, the cross sectional variation in...

Persistent link: https://www.econbiz.de/10011071300