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Cespa, Giovanni - 2019

We show that dealers' limited market participation, coupled with an informational friction resulting from lack of market transparency, can make liquidity demand upward sloping, inducing strategic complementarities: traders demand more liquidity when the market becomes less liquid, fostering...

Persistent link: https://www.econbiz.de/10012902334

Convenient Flight Connections vs. Airport Congestion - Modeling the 'Rolling Hub'

Brueckner, Jan K. - 2015

This paper provides the first analysis of the trade-off between convenient flight connections and airport congestion. A continuous spatial model illustrates this trade-off in a framework where a small gap between flight operating times raises congestion while also shortening a connecting...

Persistent link: https://www.econbiz.de/10013014357

Slot-Based Approaches to Airport Congestion Management

Brueckner, Jan K. - 2008

This paper analyzes slot-based approaches to management of airport congestion, using a model where airlines are asymmetric and internalize airport congestion. Under these circumstances, optimal congestion tolls differ across carriers, and since a slot-sale regime (with its uniform slot price)...

Persistent link: https://www.econbiz.de/10012771860

Atomistic Congestion Tolls at Concentrated Airports : Seeking a Unified View in the Internalization Debate

Brueckner, Jan K. - 2007

The goal of this paper is to bring some unity to the theoretical side of the debate on internalization of airport congestion by showing that all the literature's theoretical results can be derived within one simple and unified framework. The analysis starts by replicating the results of...

Persistent link: https://www.econbiz.de/10012776625

What Marx Means Today

Sinn, Hans-Werner - 2017

Marx made significant contributions to macroeconomics, laying the grounds for both Keynes's theory of aggregate demand … and Schumpeter's theory of creative destruction. His law of the tendency of the rate of profit to fall parallels Alvin … Hansen's theory of secular stagnation which has recently received much attention among scholars studying the financial crises …

Persistent link: https://www.econbiz.de/10012954595

Reactivity in Economic Science

Frey, Bruno S. - 2017

There is a fundamental difference between the natural and the social sciences due to reactivity. This difference remains even in the age of Artificially Intelligent Learning Machines and Big Data. Many academic economists take it as a matter of course that economics should become a natural...

Persistent link: https://www.econbiz.de/10012949113

Household Models : An Historical Perspective

Apps, Patricia F.; Rees, Ray - 2021

the earlier contributions, and using them to place the current state of the theory in perspective. One of its aims is to …

Persistent link: https://www.econbiz.de/10013316648

Charity Auctions for the Happy Few

Bos, Olivier - CESifo - 2008

Recent literature has shown that all-pay auctions raise more money for charity than winner-pay auctions. We demonstrate that the first and second-price winner-pay auctions generate higher revenue than first-price all-pay auctions when bidders are sufficiently asymmetric. To prove it, we consider...

Persistent link: https://www.econbiz.de/10005181374

The Generalized Stackelberg Equilibrium of the All-Pay Auction with Complete Information

Konrad, Kai A.; Leininger, Wolfgang - CESifo - 2005

We characterize the equilibrium of the all-pay auction with general convex cost of effort and sequential effort choices. We consider a set of n players who are arbitrarily partitioned into a group of players who choose their efforts ’early’ and a group of players who choose ’late’. Only...

Persistent link: https://www.econbiz.de/10005406138

Labor Market Pooling, Outsourcing and Labor Contracts

Picard, Pierre M.; Wildasin, David E. - 2014

Economic regions, such as urban agglomerations, face external demand and price shocks that produce income risk. Workers in large and diversified agglomerations may benefit from reduced wage volatility, while firms may outsource the production of intermediate goods and realize benefits from...

Persistent link: https://www.econbiz.de/10014204210

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