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Theoretical models of urban growth are surveyed in a common framework. Exogenous growth models, where growth in some capital stock as a function of investment is assumed, are examined first. Then endogenous growth models, where use of some factor by a firm increases the productivity of other...
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We present two notions of "no arbitrage" in urban economic models and show that there is no model satisfying both. The standard hedonic housing model of urban economics and its generalizations are consistent with the first of these, but inconsistent with the second. We present a model consistent...
Persistent link: https://www.econbiz.de/10005128055
We make two main contributions to the theory of optimal income taxation. First, assuming conditions sufficient for existence of a Pareto optimal income tax and public goods mechanism, we show that if agents’ preferences satisfy an extended notion of single crossing called capacity constrained...
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We model strategic competition between product differentiated oligopolists in a market with privately informed buyers as an abstract game over market situations. In this game each firm's strategy space consists of a set of catalogs--and each catalog in turn consists of a set of products and...
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We formulate a club model where players' have identical single-peaked preferences over club sizes as a network formation game. For situations with "many" clubs, we provide necessary and sufficient for non-emptiness of the farsighted core and the direct (or myopic) core. With "too few" clubs, if...
Persistent link: https://www.econbiz.de/10005145847
We model strategic competition in a market with asymmetric information as a noncooperative game in which each firm competes for the business of a buyer of unknown type by offering the buyer a catalog of products and prices. The timing in our model is Stackelberg: in the first stage, given the...
Persistent link: https://www.econbiz.de/10008521753