Showing 1 - 10 of 144
A discrete symmetry of a preference relation is a mapping from the domain of choice to itself under which preference comparisons are invariant; a continuous symmetry is a one-parameter family of such transformations that includes the identity; and a symmetry field is a vector field whose...
Persistent link: https://www.econbiz.de/10010368165
One of the most well-known models of non-expected utility is Gul (1991)'s model of Disappointment Aversion. This model, however, is defined implicitly, as the solution to a functional equation; its explicit utility representation is unknown, which may limit its applicability. We show that an...
Persistent link: https://www.econbiz.de/10013189014
We prove that a preference relation which is continuous on every straight line has a utility representation if its domain is a convex subset of a finite dimensional vector space. Our condition on the domain of a preference relation is stronger than Eilenberg (1941) and Debreu (1959, 1964), but...
Persistent link: https://www.econbiz.de/10010272616
Accurate regional estimates of output are desired as an indicator of level of development and as a variable used to explain internal migration, demand patterns, fertility and other aspects of behaviour. This chapter explores one often neglected aspect of regional income differences, namely that...
Persistent link: https://www.econbiz.de/10010279312
This paper revisits the excess entry theorem in spatial models à la Vickrey (1964) and Salop (1979) while relaxing the assumption of inelastic demand. Using a demand function with a constant demand elasticity, we show that the number of firms that enter a market decreases with the degree of...
Persistent link: https://www.econbiz.de/10010264705
This paper explores the implications of price-dependent demand in spatial models of product differentiation. We introduce consumers with a quasi-linear utility function in the framework of the Salop (1979) model. We show that the so-called excess entry theorem relies critically on the assumption...
Persistent link: https://www.econbiz.de/10010264758
Overdispersion in count data regression is often caused by neglection or inappropriate modelling of individual heterogeneity, temporal or spatial correlation, and nonlinear covariate effects. In this paper, we develop and study semiparametric count data models which can deal with these issues by...
Persistent link: https://www.econbiz.de/10010266199
This paper examines the direct and spillover effects of exchange rate on foreign direct investment (FDI) inflows in a panel of ASEAN countries from 2001 to 2018. We utilize the spatial econometric approach to accommodate the nature of spatial dependence among ASEAN countries. Our results suggest...
Persistent link: https://www.econbiz.de/10015074173
This research analyses how tourists using digital sharing economy platforms have behaved in the European Union, whether there are differences between European regions and how they have evolved with the pandemic. Using spatial econometric techniques, this study provides a comparative analysis, in...
Persistent link: https://www.econbiz.de/10014367350
This study examines the dynamics of the exploitation of a natural resource distributed among and flowing between several nodes connected via a weighted, directed network. The network represents the locations and interactions of the resource nodes. A regulator decides to designate some of the...
Persistent link: https://www.econbiz.de/10015419684