We reconcile conflicting evidence on the magnitude of the elasticity of substitution of land for capital, which is a key determinant of the relationship between the price of land and the density of land use. We first compare the performance of classic estimation approaches with a new estimation...

In this paper, we undertake an in-depth inquiry into the nature of sharing externalities, and study how they affect the market outcome. We show that the key thing for understanding sharing externalities is the interplay between two forces: the specialization/complexity effect, on the one hand,...

In our research we estimate the elasticity of substitution post-communist economies integrated in European Union. There are many approaches to estimate the production function coefficients as the elasticity of substitution. We argue that a frequency panel model is suitable econometric tool for...

This paper posits a new approach to the ?wage equation? of the New Economic Geography (NEG). On one side, it is shown that the NEG provides a spatial explanation of marginal costs, instead of wages. On the other side, and focusing on the statistical properties of the data, it is explained why...

Evaluation of spectrum price is important for most of the regulatory bodies and for most mobile operators. In some cases, regulatory authority faces a situation to evaluate the value of the radio spectrum which has been allocated already. In Korea, there was a reallocation of most of the LTE...

Duality in microeconomic theory takes an important role in the theoretical work and in empirical research. The dual description of convex set implies the unique structure of microeconomic phenomena in the consumer and producer theory. In this article the unique structure of microeconomic...

The UN Millennium Development Goals have recognized poverty reduction as the main goal of global development policy. A comprehensive framework to evaluate the effectiveness of single policy measures and policy packages with respect to poverty reduction is still lacking, though. Policy evaluation...