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In many practical situations where experiments with mixtures are carried out, it is sometimes necessary to consider running the experiment at different levels, or combinations of levels, of one or more process variables. It is common practice to use a polynomial model for the responses produced...
Persistent link: https://www.econbiz.de/10009458340
In this paper we propose a locally interactive model which explains both the cross sectional dynamics as well as the possibility of multiple long run equilibria. Firms can choose between two technologies say 1 and 0; the returns from technology 1 are affected by the number of neighboring firms...
Persistent link: https://www.econbiz.de/10009458646