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Income Differences and Prices of Tradables : Insights from an Online Retailer
Simonovska, Ina - 2010
I study the positive relationship between prices of tradable goods and per-capita income. I develop a highly tractable general equilibrium model of international trade with heterogeneous firms and non-homothetic consumer preferences that positively links prices of tradables to consumer income....
Persistent link: https://www.econbiz.de/10012462422
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Competition in Pricing Algorithms
Brown, Zach Y.; MacKay, Alexander - National Bureau of Economic Research - 2021
Increasingly, retailers have access to better pricing technology, especially in online markets. Using hourly data from five major online retailers, we show that retailers set prices at regular intervals that differ across firms. In addition, faster firms appear to use automated pricing rules...
Persistent link: https://www.econbiz.de/10012533409
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Optimal Dynamic R&D Programs
Grossman, Gene M. - 1985
We study the optimal pattern of outlays for a single firm pursuing an R&D program over time. In the deterministic case, (a) the amount of progress required to complete the project is known, and (b) the relationship between outlays and progress is known. In this case, it is optimal to increase...
Persistent link: https://www.econbiz.de/10012477422
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Dynamic Optimization in Two-Party Models
McKibbin, Warwick J. - 1987
problem we develop a numerical dynamic programming algorithm to solve for optimal policies of each party taking into account …
Persistent link: https://www.econbiz.de/10012476856
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Nonlinear Programming Method for Dynamic Programming
Cai, Yongyang - 2013
the linear approach to dynamic programming by using ideas from approximation theory to avoid inefficient discretization …
Persistent link: https://www.econbiz.de/10012459628
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Solving Dynamic Programming Problems on a Computational Grid
Cai, Yongyang - 2013
We implement a dynamic programming algorithm on a computational grid consisting of loosely coupled processors, possibly … leave the pool of workstations. The algorithm is implemented using the Master-Worker library running on the HTCondor grid …
Persistent link: https://www.econbiz.de/10012459947
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A Conic Algorithm for the Group Minimization Problem
Simeone, Bruno - 1976
A new algorithm for the group minimization problem (GP) is proposed. The algorithm can be broadly described as follows …-known algorithm of Glover, and checked for non-negativity. The first non-negative point is an optimal solution of (GP). Advantages and … disadvantages of the algorithm are discussed; in particular, the implementation of the algorithm (which can be easily extended so as …
Persistent link: https://www.econbiz.de/10012478970
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Strategic Interaction Among Heterogeneous Price-Setters In An Estimated DSGE Model
Coibion, Olivier - 2008
We consider a DSGE model in which firms follow one of four price-setting regimes: sticky prices, sticky-information, rule-of-thumb, or full-information flexible prices. The parameters of the model, including the fractions of each type of firm, are estimated by matching the moments of the...
Persistent link: https://www.econbiz.de/10012464325
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Sales Mechanisms in Online Markets : What Happened to Internet Auctions?
Einav, Liran - 2013
Consumer auctions were very popular in the early days of internet commerce, but today online sellers mostly use posted prices. Data from eBay shows that compositional shifts in the items being sold, or the sellers offering these items, cannot account for this evolution. Instead, the returns to...
Persistent link: https://www.econbiz.de/10012459642
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Digital Rights Management and the Pricing of Digital Products
Park, Yooki - 2005
As it becomes cheaper to copy and share digital content, vendors are turning to technical protections such as encryption. We argue that if protection is nevertheless imperfect, this transition will generally lower the prices of content relative to perfect legal enforcement. However, the effect...
Persistent link: https://www.econbiz.de/10012467145