Secretary of Transportation Pete Buttigieg’s proposal to make the United States a “world leader” in high‐​speed rail would add more than $4 trillion to the federal debt for construction of new rail lines plus tens of billions of dollars of annual deficit spending to subsidize operating...

This paper studies road safety and accident externalities when insurance companies have market power, and can influence road users' driving behaviour via insurance premiums. We obtain both welfare and profit maximizing marginal conditions for first- and second-best insurance premiums for...

We model firms' optimal allocation of resources between surplus-creating (a.k.a., productive) activities and surplus-appropriating (a.k.a., rent-seeking) activities. We show that economy- or industry-wide technological progresses, such as the recent improvements in processing big data, induce a...

The paper offers a new view of the process of globalization of the necroeconomy. The goal of the research is to set out the main reasons why in many (and mostly in poor) countries the economies used obsolete technologies. As a result all these countries have retroeconomy. The process of...

The present paper analyzes the impacts of total labor productivity and efficiency in Oman State. As a Gulf state it has depended on oil production for its economic life for the past decades. However, it was typically known for traditional industries and trade, helped by her long sea shores and...

We do two things in this paper. First, we put forward some elements of a microeconomic theory of technological evolution. This involves adding nascent (essentially undiscovered) technologies to the existing technologies of neoclassical production theory, and, more importantly, expanding the...

The current paper reviews the impacts and effects of technical transfer and change on the economic patterns of developing countries. It has been postulated that production factors, labor and capital have the greatest effects on economic and development patterns. However, technical change emerges...

We analyze investment decisions when information is costly, with and without delegation to an agent. We use a rational-inattention model and compare it with a canonical signal-extraction model. We identify three "investment conditions". In "sour" conditions, no information is acquired and no...

Non-exposed space is defined relative to exposed space, and mostly refers to indoor or semi-indoor scenes, such as urban rail transit, tunnels, coal mines, factories, shopping malls, hospitals, etc. Navigation and location information are closely related to human production and life. No matter...

The prime objective of this paper is to empirically investigate the nature of technological progress in selected STUs. To examine this issue, a translog cost function is estimated jointly with factor share equations subject to required coefficient restrictions by using the method of 'Zellner's...